It looks like the HBD APR was actually quietly changed to 19%! Frankly, at least one of the witnesses should have announced these changes.
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It looks like the HBD APR was actually quietly changed to 19%! Frankly, at least one of the witnesses should have announced these changes.
It's not practical for one witness to announce this change because each witness can choose what the APR will be and the system will calculate the actual effective %. See the
APRcolumn below:That makes sense. However, based on this chart, I'm not quite seeing how it changed to 19%, seeing as the majority still have it at 20%. Could this be a display error?
Yea so it's the median price between top20 + 1 backup.
There have been discussion since I've convey your question to other witnesses and there could be an update to do a median price between top19 witnesses instead in order to get a more stable APR.
I appreciate you looking deeper into this and discussing it!
I'm wondering whether a mode might be a better approach? It seems like it would be more reflective of the general consensus, unless every witness decides to switch to a different number - which seems rather unlikely.
I did suggest a mode but another witness came up with a counter example where it would not work as expected. Say 18 witnesses each have different APR values and two of them have an APR of 0%, mode would result in 0% APR.
10 witnesses signal 20%, 10 signal less. The APR is calculated each round anew, so currently it depends on the chosen backup witness if it's 19% or 20%
I’m not 100% sure of how the calculation is done but it could be a median over last several days or median from witnesses APR value.