Overall printing HBD should be considered as an act of balance from the witnesses.... with the main thing to consider the Hive debt.
At the moment HBD is in a great position with around 2% debt. Hive has been conservative in this regards for a long time. With the increase of the haircut limit in the next HF there will be even more safe room.
At some point if we get above 20% debt, probably will be a good time to reconsider the hbd apr.
That has to be balanced with growth. If there are enough use cases forming for HBD and the token is being circulated, creating a thriving economy, then the debt level will not be a problem.
Obviously, if that takes place, the amount of HBD required will be enormous, meaning the demand for HIVE will increase.
As always, it comes down to building. If project teams are doing that and incorporating HBD in, then growth will offset it all. This is where I believe the foundation of Hive differs from many: we have builders here.
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I know there is at least one dApp that will be locking up a lot of HBD.
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It is a perfect solution for gaming.
Lock up some HBD in savings, earn 20%, and use the proceeds to fund some of the #Play2Earn. As popularity is achieved, and people are buying more NFTs, skins, or whatever, that money keeps getting pumped into the savings.
As it grows, so do the payouts to the players. A rather simple revenue source for the game.
Only 1? LOL
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There may be more than one, I just know of one. I am actually thinking about using for my projects as well. It isn't easy though, because you don't get the 20% instantly and not many people want to wait a year to get it. It also comes locked up so you are constantly unlocking rewards.
Being monthly, that means that is the shortest term you can use it for your dApp users without dipping into your own pocket.
In fact, it is likely you will have to dip into your pockets to use the rewards for a dapp which becomes a nightmare in terms of calculating. For example, if you wanted to use HBD to support a weekly reward pool. That's about 0.38% gain weekly if you ignore the 3 day to unlock.
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Just draw from principal. The interest will replenish it at the end of the month when paid. The interest will be slightly lower of course, but not significant.
One risk is that witnesses reduce APR (potentially to zero) before it gets paid out. This should be made clear in the rules of the game/dapp.
That is all true. At best you will have to wait a month to get the first payout and build from there. You are right, the accounting could get rather wonky if not careful. Have to first develop some type of revenue stream then place it in the savings and start earning there.
Alas, first order of business is getting the option there for people.
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