Logged onto my account to do the usual check up and make sure to close all my tasks for the day...
To my surprise I see right away the 10% APR for the HBD savings account... Are we finally going to start working on our on very much stable coin? Or will HBD continue to be the target of small Pump and Dumps.
I checked out what witnesses where running their servers and I found 10 out of the 20 are running with versions that have 10% APR on the HBD so 50% of the top 20 Witnesses are running over 10%.
6/10 of the Top Witnesses are running with the APR of HBD set at over 10% so we are now gathering 10% APR on our HBD stable coin .. That is a nice first step in competing with BlockFi and or Gemini and various other platforms that pay a nice APR for stables.
This feels like Hive's Blockchain is going into the right direction.. took some years but we are making progress..
The price does show a different story... so we are almost* there, HBD should not go under .99 if it truly wants to become a competing stable coin.
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It is back to 7%, but I observed the same and made a post as well :P.
This is the state right now: Full Post Here
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They playin with us.
I guess it's all on the 21st witness, if he is 10% or more it goes with 10% else 7%.
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I read your post and check my wallet but I see 7% APR?
Yea you are right it went back down to 7% since 7 seems to be the middle. If 12/20 choose 10% or higher it would probably stick.
What the hell do I know?
It'll probably bounce back and forth for awhile, but I think the trend is up. Some witnesses are even setting for 12 and 14%.
Where does the interest actually get paid from?
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Inflation in the board speak.
In short speak it also an IOU of future hive.
It effectively locks Hive in and redeemed later
!ENGAGE 10
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10% is pretty high but honestly if it's sustainable it puts it into competition with some staking and defi projects.
10% is solid and if it really holds a stable 10% it pays FAR better than any bank ever would or even a majority of dividend paying stocks.
The only real issue is it's for sure still not holding that $1 peg
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More exchange listings for HBD would make a massive difference to the stability of HBD. it's literally on 2 exchanges as far as coingecko is concerned. It's also paired with BTC and does not have any USD pairings so swings in BTC also cause HBD to swing regardless of trade activity. (though trade bots and such do auto adjust with these fluctuations, just not to a good enough degree for stability)
It's strange that current exchanges that list hive don't just list HBD at the same time.
Yea the price itself is concerning. The % for interest is definitely going to be changing periodically as the top witnesses try playing around with it
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Im no expert but the ability to alter the interest rates so easily, even if done consensually, doesn't that create more questions than confidence with potential investors?
So what does the savings do?
I haven't used that on hive yet
It takes 3 days to remove things from savings back into your wallet. In the case you are hacked or if you need funds in a rush, having some there is nice. Also HBD only gets interest inside the savings.
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