Hi task, I'm a regular reader of your posts and I admit that the question of how to prevent HBD from killing Hive has been bothering me for weeks, even before the moon crashed into terra, if I may be allowed this sad joke.
It's a very complex problem, but after a lot of thought I came up with the following ideas, although I don't know if they are feasible.
If a HBD person seeks liquidity after increasing his savings... HBD at that moment is worth $1, person A wants to sell $1000. A swap with stable foreign currencies is enabled. That is, the person will exchange 1000 HBD for 1000 BUSD. The cleanest way without affecting the 1 - 1 relationship against the dollar is to burn the 1000 HBD immediately afterwards. Could we contractually avoid the purchase of HBD in these networks so that we would have full control of the peg?
It seems to me vital, once the above mechanism is successfully developed in several networks to hinder with that 25%, or with 50% or directly eliminate the hbd conversion mechanism -----> hive, which is the one that would cause an increase in the supply of Hive disastrously in attacks on our currency. If the person gets his liquidity through a swap with another foreign stable and wants to convert to hive, he has no choice but to buy hive, which would cause an increase in the price of hive, i.e. the opposite effect!
The conversion mechanism hive ----> hbd would remain intact, as it would also help in this case to burn and shortage of hive, with the consequent price increase.
I have been studying the case for weeks because it seems to me to be the cornerstone of our whole system. That stone could crush us, or we could use it to our advantage. If we add these strong external stable currencies, we add to the confidence generated by our ecosystem the confidence of these strong currencies. If we lean on a giant, we can see further.
Asahel
@criptosectadepit