Can any one elaborate on how the convert HIVE to HBD function works in the Keychain?
"You deposit collateral (HIVE), then you are given HBD up front worth half of the collateral amount (minus a 5% fee). Your official final payment is in 3.5 days. At that point remaining collateral (HIVE) is returned."
So if I understand this correct
I convert $10 HIVE. I would receive $4.75 HBD up front. But I struggle to comprehend the function after this. Essentially I have $5 still in conversion for 3.5d. My question is do I get $5 more HBD or HIVE returned?
Asking for a friend 😎
You get HIVE returned after 3.5 days. The amount depends on the HBD you received and the average (median) price of HIVE over the next 3.5 days. So if you received 20 HBD, deposited 50 HIVE, and the average price of HIVE over the next 3.5 days is $1, you will receive 29 HIVE back (20 to pay for the HBD received and 1 HIVE charged as 5% fee).
I am not sure how Keychain works but it sounds like it is simply tying into the conversion.
If you go to convert $105 with of HIVE, you will get 100 of HBD.
At this point, there is no reason to convert any HIVE to HBD. One is best going to the internal exchange and trading HIVE for HBD there.
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