Return to stabilizer

in HiveDevs2 months ago (edited)

Just wanted to share simple script and possibly encourage other proposal creators to consider running this or similar script that will help the peg.


hbd-hive-stabilizer

HBD return

We don't know how long HBD will be above the peg, so it is natural for DHF/proposals to adjust and return HBD back to stabilizer that will help the peg and decrease the supply of HIVE while continue to fund some projects. Also projects could continue to evolve, develop, attract more developers and people... For most proposals/labor/infrastructure costs are still based in fiat so the risk is minimal and this script only sends back if peg is above $1.

Choice is ultimately yours and it is based on trust. We are going to run this script in all our proposals until reasonable correction to the peg.

https://github.com/ecency/hbd-return

This simple script is written in nodejs that will calculate reward received for entire day and send the difference above peg to @hbdstabilizer. If you find any issues or want to improve it, feel free to submit PR or suggestions. We could add configurable threshold, send from multiple account and other settings...

Edit: New environment parameter PERIOD (how often return) and THRESHOLD (peg percentage threshold) is added, now you can specify those values accordingly.

Let me know what do you think?

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Ecency | Hivesearcher | Hivesigner

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Good idea. I think more proposals using this would help get them back into being funded.

I voted for your proposals now.

Just pushed update to script with period environment parameter and set return to hourly. Anyone can now choose their own period of return.

HBD pump right now!

Yes, as long as entire market stays bullish it will likely be above peg, we don't know how long it will take to come back to peg. But good for HIVE because supply decreases and more funds for future development.

Also we just added HBD as currency into https://ecency.com because it is not $1 anymore and causing some confusion because we were using 1 USD value.

hbd-currency-selection-ecency

If the last bull cycle is any indicator it will be until about the end of this year

Haha hbd price caused coinfusion?

In some part of code on our website, not for new people but for those who use multiple frontends and see different payout values 😅

If I ever get refunded totally using this snazzy bit of code. Damn good thinking!

Thank you for your great initiative 👍 I hope that your script will be used by the maximum of beneficiaries

I'm curious about what happens if the US dollar crashes. Would that cause any potential problems with the math that generates HBD? After the next HF, HBD should be pegged down to the dollar. Will it be possible to modify the funding DAO to issue Hive instead of HBD?

There is actually a system built into Hive already for the scenario where the dollar going into hyperinflation - the way it works is that if the HBD debt to cap ratio were to go below a certain limit, the peg will treat it as if it's exactly at that limit. Thus in such a scenario there is a limit to how much purchasing power the HBD could lose.

Additionally, if the dollar is in high but not hyper inflation, Hive witnesses can increase HBD interest rate to compensate for that.

Ah, thank you for clarifying that for me!

On top of that, it wouldn't even take a hard fork to repeg to another stable measurement of purchasing power. If witnesses agreed, they could repeg to a certain amount of euros, pounds, swiss francs, or even a certain weight of silver or gold.

Hmmm, Hive Backed Euro in our future? The way my government is printing USD, it seems likely.

Hahaha exactly. We should push hive dollar up not down. Let it be the low supply RARE hive used as the Author Reward Stimulus token

Youre so right... what if the dollar is no longer a valid currency hahaha it wont define value in future so kets just use BTCP or LEO or get @aggroed to start a service like @likwid to set all your beneficiary rewards by default on every post.... but which pays you back not in liquid HIVE but swap.BTC or swap.DOGE or LEO any choice of hive engine token which it will buy automatically

Muy buena esta noticia, la aplicacion del script seria solo de un uso, o de uso continuo

Dear @good-karma

I was looking for a way to find the transactions happening on Hive Engine
I don't if there is any tool available
I am new and I tried my best to find
I am not getting any solutions
Please help or let me know even if it's not possible

Please Please
Forgive my brevity
I would be highly obliged to you for your kind support

I am not super familiar with Hive-Engine, but they have explorer, here check from this search results: https://ecency.com/search/?q=hive%20engine%20explorer

Please look into the system EOSDT uses for their digiridoo dollary doo coin https://equilibrium.io its on eos and we can honestly hardwire eos smart contract code back into hive so we can have PBTC and PETH style coins in the internal market

We also need simple system for dev curatiom and gitlab hive blog code stuff but dont over think the systen for commits

We can teach our users to code using nothing more than uovotes emojis and dan larimers tweets man

Amazing idea

you are really smart. fuck hive. let's go to another platform. tell me where mate.

it feels damn awesome... CRYPTO UP MY MAN !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

How do you file taxes? Can you deduct what you send to the stabilizer as it's not the same entity as the source of the funds?

Thanks for the ideas Hopefully it can be used by the beneficiaries to the maximum