Hive Backed Dollars (HBD) - Underrated
Hive Backed Dollars are honestly the most underrated part of the Hive ecosystem.
Dalz' look at the total stablecoin market cap today was a real eye-opener for me.
Seeing just how big the stablecoin market is, and just how insignificant we are, is sad.
Hive Backed Dollars are one of the best, untouchable algorithmic stablecoins in existence and we NEED to be doing more to promote this fact.
I have to get my head around the tokenomics of the haircut level, but if we can sustainably somehow offer 20% interest on HBD in savings, then it is a no-brainer.
We would then match Anchor Protocol's interest rate on staked UST and immediately put Hive Backed Dollars in the news.
Is there any discussion about this on-chain from our witnesses?
I'd love to read some proposals and hopefully throw my support behind those taking action on bettering HBD.
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There have been a few articles about the haircut level and increasing it. Blocktrades and others made their feelings known in some of the comments.
He is the one who started the idea of 20% or 30%.
I would agree with this statement. We have a lot to offer. For me, I think it starts with people focusing upon it and trying to get a lot more out there. This is something that starts with each of us saving some.
Plus, the relationship between HBD and HIVE will likely have an impact on the price of the later.
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