In late November we made an ATH after another and I suggested to 'calm down for a bit', the reason for what I decided to focus solely on purchasing stablecoins (specially HBD) while things cooled off for a bit.
Today, 3 full months after, I've decided to switch to a bit more aggressive mode of managing the portfolio and I'm getting ready to free up ALL of our HBD.
Currently, I'm waiting for the 3,5 days of wait to pull them out of Savings but probably after that I'll have to wait an additional ~3 days more to convert them into HIVE ( since I don't expect the required liquidity for 30K HBD anywhere).
Few reasons!
- HBD is still a very inefficient stablecoin: 3 days of lockup to enjoy a 12% APR and ~3,5 more days to exchange it for HIVE at a fair rate ( If HIVE doesn't make any crazy thing in those days). 6 full days are too much time and it's not competitive when you're trying to buy a dip. I prefer to treat those funds as locked and don't depend on them. WOn't complain, but I feel HBD needs to step up its game in orders of magnitude if we ever want to be treated seriously.
Ps. As a Witness, I'm advocating for a 15% APR (a ~3% increase) in order to stimulate HBD printing (If it ever gets approved I'll raise it to ~18% and over & over). Something which I truly believe HIVE needs as a network. In my humble opinion HBD will be our 'killer app' and we should encourage its adoption (not overcomplicating it).
The market showed signs of bottoming out for a few weeks and, although today we're dumping there are a few good buying opportunities which I would take profit ASAP.
With the last ''deppegging announcement '' from 15 days ago, it's been possible to sell decent amounts of SEED for 3$ (even 4$ sometimes!). Since the selling pressure is nonexistent I understand everyone is happy with the current direction and how overall SEED is performing. So... expect volatility ahead!
But empo, what are you going to do with those funds?
I can think of 3 things very quickly (in order of priority);
- Guarantee liquidity available for presales. Oh dear. This has been a pain point forever. We can't take more positions if every other week were starving for liquidity to keep participating for upcoming presales. It's been relatively quiet the last 3 months, but hey, April comes and DAO Maker asks me for 8500$. WTF. They think we print money or something.
Polycub saved our ass the last time, and we still have 9000$ available approx... but will not last long if we have to deal with a couple of big random pre-sales (improbable, but possible).
- Get a bigger position in ORN-USDT. Orion has been one of my favourite projects from a long time and I believe they will deliver (they're already!) amazing tech that will vastly improve the Defi sector. A x10 is my moderate target, but my bullishness is not enough reason to go all-in into that project. For every 1$ used to buy ORN, another 1$ will be used to buy USDT and I'll be pairing them into a Pool for a juicy +35% APR.
Who said we can't enjoy the stability of stables, the pumpamentals of good projects and still enjoy a wife-changing APR of +35% APR? ORN-USDT LP's for the win.
- BUY HIVE!
Don't get me wrong. I'm not going to exit a ~6 days-illiquid but a stable asset to enter (fully) into another with ~3 months of illiquidity + the volatility factor.
However, keeping HBD was a 'proof of good faith' towards all the SEED participants since it was a clear way of sending a message to all of you: '' Look, SEED is partially backed, your funds are there and you can request them on demand ''. This hasn't changed, but I believe it's a MUST to do a bit of DCA from time to time on HIVE. I owe a lot to this chain and this project as a whole is the first example.
Hope you understand. Enjoy your week!
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Understood
Why so serious :)
Tot bé company?
hahahhah!, no home, tot be!!!!
GAYYYYYYYYYYYYYY
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I agree with you, The conversion times are too long but they explained to me that it is useful to avoid market manipulation.
The cause is the low liquidity of HBD for which it is necessary to print many coins
It is from a stability standpoint. But still needs improvement. I WANT to use it efficiently but I just can't.
Wen rich? Wen new wife?
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This is my experience with you so far LMAO
tagging @cmmemes coz he will enjoy it :P
ops the last GAY moved a bit. Anyway u get it
😂😂😂😂😂😂
I am dieing
fucking epic :))))
Nice. Do you need to be slapped around to get aggressive lol.
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It's like in the military. Every soldier (asset in the portfolio) has a function. And sometimes you have to play defensive :)
Aloha! u always use some of the best pics in your posts! cool!
Thanks chinito! :)
Just wondering but why the ORN/USDT pool if you feel bullish about it? Do you think the farm rewards will pay enough that it will offset the IL?
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Again it's because a stability factor. 1/2 of stablecoins is still pretty stable Vs 2/2.
Single staked ORN has another problem: a 14 days lock. (for +10% APR atm).
Much better to stake with USDT, you get +35% APR which given enough time will cover the IL if it increases in price.
yeah , 3 month of illiquidity but it is good advice to a noob like "buy bitcoin" who is very susceptible to be burned in crypto space.
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My advice for people who's starting out is to stake small amounts but often. It keeps you going.
Eventually you'll be a minnow... and without noticing, someday even a dolphin.
A lot of todays orcas were minnows in 2017. We had a long winter to prepare, but the most important thing is that we resisted.
Perrrrfect! SEED entering a bit more adventurous road. Obviously, we shall not miss out on presales! I dont think you take too much of a risk since I think similar to you: 1) the market looks like to go up again next period 2) with 1 presale can do very well, 3) with 1 and 2 the future HBD becomes 'cheaper' to the SEED fund which makes this leaving HBD a profitable trade when SEED decides to repurchases HDB in the future.
Though I do see why HDB is not effective, I kinda like the idea of having some barrier to get out of perks around HBD. One such perk is the interest HBD holders can earn. The 3 days delay, could be replaced with some percentile/percentage fee, am ok with that. But ok, for mass adoption, or use by the big players, maybe no barriers shall exist. The low liquidity of HBD is not good; This should be increased dramatically. I wonder if our own HIVE proposal system should be used to increase HBD liquidity. Should we maybe use the profits from the HBD stabiliser project for this? Add to that, for use by the big guys, a better and more recognisable UI is needed as well as LP pairs at some of the popular chains. Again that needs funds; Would be perfect again for our proposal system to fund this liquidity.
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I agree with slowly increasing HIVE, we need to grow a cadre of orcas around here to get things done!
Maybe I should look into ORN too. have it since months on bookmark but hey :D
Thanks for the update
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