( a little screenshot sneak peak at to what the browser version of the CFD platform GUI looks like )
Being a first to market innovator on HIVE has always been one of those things that have been a source of great pride in the development work done here on HIVE and on the previous chain.
There is just something friggin' neat about being the first person to put forward or launch a product or service that otherwise wouldn't have existed without the hours of focused work and dedication it takes to bring it into reality for the betterment of the community and to help drive HIVE demand.
While still in need of some serious testing and to see how well its logic scales when there are hundreds or thousands of active orders on the books, pretty damn proud to announce that HIVE / USD contract for difference (CFD) trading is coming to HIVE shortly offered as a bonus to the paradigm shifting HIVE liquidity lending using the first of it's kind "account as collateral" lending model. After finding the algorithms and formulas enabling the addition of this financial vehicle after some deep digging online to facilitate Hive.Loans users to create positions speculating on future HIVE / USD prices, I'm quite confident that the platform will be a great addition to the ecosystem.
Initially I'd not planned to allow for leveraged CFD trading to occur until later down the road but found that it's inclusion on the launch of this aspect of the upcoming Hive.Loans site would actually be beneficial overall as long as kept limited to a "sane" range of allowed multipliers which will initially be tested between 1x <-> 10x. With 1x being the default if the trader doesn't bother to specify.
Profit as it Should Be: Calculated By The Second
The community supplied bankroll and the current HIVE / USD price coupled with the total sum of unrealized profits/loses owed to the open positions created by the community will ultimately decide what sort of future positions and profits can be realized by traders, and with by the second price updates not only will the CFD trading be real-time, but also the prior statements about having to time lock positions will be discarded altogether, as it won't be required due to the inclusion of a spread on spot prices offered on the long and short positions. Effectively everything pertaining to the CFD trading ranging from position profits, stop loss checking, position liquidation and bankroll investors profits will be processed / calculated every second reflecting the price changes of the HIVE / USD pairing with the source of this by the second price update being the average of many exchanges.
Offering the HIVE Community a New Investment Vehicle
Bankroll investing will take place as an "open to all" community funded financial vehicle allowing you to park your HIVE in the bankroll against CFD traders in order to realize / earn profits from their position loses (or incur loses of invested HIVE capital from their position wins). Had briefly considered privatizing the bankroll, as it would be FAR less work to simply supply the bankroll from private funding however in the interest of creating more lucrative reasons to buy and hold HIVE it was decided that an open community architecture was worth the effort.
In order to prevent investors any ability to "rug pull" or otherwise invalidate or force close CFD traders positions investments in the bankroll will require a 7 day divest delay once triggered in order to withdrawal their invested HIVE. While an inconvenience at least and effectively the sort of thing I was trying to avoid as it sits this seems to be the only way to ensure that potentially malicious bankroll investors wouldn't be able to manipulate the platform in their favour to force orders closed.
A Note on the Upcoming Beta Testing Coming This Week
While initially there will be some caps on investment amounts and CFD position sizes put in place during public beta testing in order to prevent huge sums of HIVE capital from being injected into a system in need of hours and hours of testing, both features will ship with the v0.1.0 public beta releasing here hopefully within the next week. I've still got probably 100 hours work site wide to put into developing before Hive.Loans is ready to shift into a fully functional public beta testing phase, but the goal is still to release it before the start of this weekend. If this timeline shifts a bit for whatever reason I'll let the community know in a post.
The exchange side of things on Hive.Loans to facilitate the sale of HLSHARE is also coming together and prior to the beta testing launch will be announced in regards to initial offering.
My development work is currently unfunded, so if you have a spare witness vote or aren't yet supporting my latest proposal to fund this and the Hive Smart Chain solidity smart code side chain project that ramps up after this one goes live please consider giving your support. <3
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Posted Using LeoFinance Beta
Can’t wait!
Posted Using LeoFinance Beta
Hey man, always nice to see our main marketing man on twitter pop in to say hi. Keep up the good work, what you're doing out there is noticed and undervalued.
Excellent. We need this.
Agreed. Hive.Loans will have all sorts of oppurtunity for those wishing to use their HIVE to profit far more than currently available investment vehicles on the network allow.
Look at you go. Using Leofiance like a boss..
Now that I know it posts to my normal HIVE blog as well I have no idea why the fuck I wouldn't for stuff pertaining to finance or investments.
So.. you ARE smellin whst I'm stepping in then 💩💰😂
Posted Using LeoFinance Beta
Makes more fucking sense than leaving "money on the table" when posting about financial tools really.
What's the link for that one?
I think when hive.loans comes out for beta testing I'll make a new account and chuck some hive in it to see how it all works :D While I don't see myself even needing to get a loan in this way might as well help test things. I'm usually very good at breaking things.
Communities I run: Gridcoin (GRC)(PeakD) / Gridcoin (GRC) (hive.blog)| Fish Keepers (PeakD) / Fish Keepers (hive.blog)
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Yeah. I'll suggest beta testers user dummy testing accounts for sure rather than their normal accounts.. Juuuuust in case some horrible bug slipped my development testing and nukes an account or something.
The lending is the unique part about this site, but far from the only functions it serves.
Can't wait to get this going and see you around the site when testing. Thanks captain.
You are quite the busy one! Between your work on HIVE.LOANS and HIVE Smart Chain (HSC) your artistic masterpieces must be taking a backseat!
If you need more funding for your projects, you could always turn your art into Non-Fungible Tokens (NFTs) and raise capital that way! NFTs are all the rage! 😜
Posted Using LeoFinance Beta
Eh. I'm doing all this so I can retire back into what I enjoy which is drawing dicks..
Eh, I can barely sell dicks as NFT's here. Let alone being able to justify the fees on these larger sites where I'm all but unknown.
This is pretty cool, I can't wait to watch what happens with it
Posted Using LeoFinance Beta
A "moon" or flop. We shall see but if I didn't think it would be a heavy percentage of possibility of option 1 I wouldn't bother. :)
It's looking good! Thanks for the update and I'm really looking forward to seeing it.
Posted Using LeoFinance Beta
Highly appreciate you taking time to comment in support of the project.
Very cool. I suppose CFD trading will be centralized?
Posted using Dapplr
The initial site will operate in a centralized fashion on top a decentralized network until I can get some funding to continue my work on Hive Smart Chain and effectively transfer all Hive.Loans functionality and web hosting requirements "into the cloud" on it's completion. Although as it sits this funding is at the whim of a handful of heavy stake weight individuals who have expressed working on similar smart contract capable improvements to HIVE so there may be some conflict of interest or personality clashes standing in front of support.
We will see what happens. Regardless of funding on HSC I'll get this first version of Hive.Loans and it's tools pushed out into beta testing ASAP then pivot onto campaigning for funding to build the tools required to properly decentralize it once this initial version is proven stable and secure.
I don't like the focus on big stakeholders when there are proposals like PeakD that get to the top without any big stakeholder voting. Orcas matter more than whales, you make it seem like hive is centralized.
Empirically, you can simply look at the total hibe powered up and see that the percentage stake in few hands should not matter.
The real problem is that most people don't take the time to review proposals. So although they can make a difference, they are not active.
Posted using Dapplr
What is your cut off of consideration of a "large" stakeholder? I'd personally consider Orcas to be 100K of their own stake. Where as an Elite is over a million or considerably (> 10x) more in the case of the most upper echelon of top tier.
A lot of the stake we see voting is delegated by these Elite / Upper Echelons. Another thing to note is that the stake being used in your example are almost entirely supplied by the largest of stakeholders to those propping the peakd.com proposal up. It is basically only by the will of the top tiers we see that possible. If we were to, lets say, see a network wide retracement of all delegation we'd see some serious shifts and a more clear gaze upon the leaps and bounds influence wise the community is behind the tops.
You're not wrong in saying the Orca is incredibly important. But when you need something like 100 Orca to make up a single Elite class and we've only got a couple thousand active users... You begin to see the issue emerge.
Most people don't even have a clue what is going on under the hood. Nor should they honestly be expected to. However in saying that you also see that people not being aware contributes to this and magnifies the stake distribution disparity even further.
I realize to some calling this sort of thing out is viewed as wealth or stake shaming, but that isn't my intention at all, with that falling somewhere between wanting large stake holders to take more consideration for their choices or actions and trying to loosen what effectively is a death grip around the way things are run here's neck we potentially see now.
Very interesting Kyle! Thank you for your good work. I can't wait for this to go live. I wanna try it.
Thank you for the show of support and comment.
It's exciting to be building and innovating towards things on this platform that in my opinion should have come to fruition long ago, but are only now catching up to what I would consider a minimum offering of utility for any finance tool.
It looks like there is great progress on this end and its nice to see leverage included. I probably won't use that feature though as it creates massive profits/losses in either direction. Also good job on including a current solution for the "rug pull". It may get better over time as you or someone else comes up with a better method.
Posted Using LeoFinance Beta
Protecting and valuing the user / consumer is something important to me, as it serves to be said that without user confidence or solutions thought out to nullify predatory or malicious behaviour you're effectively condoning it. While sort of a sad state to realize, as a community builder it is the sort of thing I think about that keeps me up at night, so putting things in place to ease not only my own, but others minds' is an important aspect of design.
Make it beautiful :)
Yeah.. My GUI design has always been bordering on trash and it's likely the current GUI ends up tossed out in favour of something a little more aligning to the common trend of popular exchange designs.
The Mobile version is all but completely non-existent currently which is something I need to work on before it gets a proper launch.. But more focused on getting it ready to public beta test to go through the functions and whatnot before focusing on getting mobile display rendering production ready.
The most important thing is to work and be secure ... design can come after
Yep. That is the exact thought I had on it too.
Not really keen on taking in external integrations until I have HSC set up to facilitate the things properly and decentralize this offering. I've still got months and months of work ahead of me trying to tackle it all unfunded and without the ability to compensate buddies for coming in to help me. While I suspect I know root cause of this with it being a mess of self interests and personality in power clash I'm likely only able to circumvent it with broad community support and making sure these services are undeniably deemed assets to bring into question why exactly things are going as they have been going.
EOS bridging will be pretty trivial once things are in place, although expecting an expedited product delivery when there is effectively a race condition going on between myself and larger stake holders to be first to deliver HIVE smart contracts supporting industry standard languages, it ultimately serves to expose the jagged underbelly of what appears to be from the outside a just and fair governance model. Ah well.