What do you guys think about changing HP interest from flat rate to dynamic rate like Fixed Deposits rate ?
For example.
1 year continuous HP = 7 %
2 years continuous HP = 21 %
3 year continuous HP = 33 %
I thought this is one way to create long term HIVE stakeholders. Remember HIVE is only 6 months old.
I remember when when Binance starting crypto exchange in 2017. Only three things that separated them from their competitors.
- The Founder CZ
- Trading Fees replaced with $BNB token
- Long term incentive for early stakeholders
Posted Using LeoFinance Beta
@nathanmars, I don't do much Calculations but hope that Hive Mechanisms will move towards the right direction.
Because of the Decentralisation System and Young Technology many external factors will influence rates and all.
Have a great time ahead and stay blessed.
I truly believe that one or two key changes in our HIVE protocol fundamentals can take HIVE to the next level.
Let's hope for the best.
Solution 1: I'm for progressive interest. Probably during the same potential round of core changes, something can be worked out for those who want a quicker exit.
Solution 2: SMTs, if they'll ever come... Progressive interest can be offered as a new SMT token, so not directly as the base token.
Solution 2 is much better
I think so too.
I think you mean interest on HP, not inflation?
That would make sense, it’s also something Dan has written about to incentivize staking on EOS — rather than three days as is currently.
That would be computationally very heavy on nodes since most accounts stake almost daily, even tons of those dormant auto voting accounts have auto-claim.
Those numbers would need massive revision though. 33% shouts SCAM all the way, unless you mean 33% of the daily inflation goes to interest for 3 years old stake.
If you actually mean 33% interest on all 3 years old stake, inflation is going to skyrocket because it needs to actually pay that out. That will result in HIVE nosediving in value because nobody will want to participate in such massive inflation. Even your base 7% is close to currently daily production
Interest on HP holding is what I was talking about.
The numbers are only for illustration purpose.
Everyone talks about power down period to be reduced but not many talk about incentivising powering up with dynamic interest rate
A less computing intense method would be when you can stake xxxHP for xx months. The longer you stake for the higher your interest rate. You could still power down but at a slower rate (example: if you stake for 3 years, your power down would take 39 weeks.
Main issue is that all the interest needs to be printed, so that would have to gradually be taken from the reward pool as required and would still possibly become dynamic when staked interest exceeds the inflation reward. But it also opens up opportunities like lending.
While I’m no economist, I’m all for this. I say “release SMTs, with RC delegations pool rent market, and internal market for new tokens. Then gradually reduce the pool over the next 2 years (to give existing and new dapps creators the time to find token utility and investors in order not to crash active userbase who spend a lot of their earnings in the ecosystem — HE & gaming) and use the freed inflation for DeFi purposes like interest, lending, and whatever much smarter people than me come up with.
PS: This system started with 104 weeks power down. Long term incentives was something Larimer understood and still advocates. I predict it will eventually be why he leaves B1 since Blumer is the other side of the medal and also actively promotes exchanges staking.
Thank you for explaining to me :)
This good post
Thank you 🙏
@nathanmars interesting, hope it will work out ,we r with you👍
Thanks
Welcome 😊👍
Very interesting, it would be good to try
I’m just throwing out some ideas to improve HIVE protocol internally.
We have to look for alternatives so that people feel motivated to bet hive and keep it in time. I am not very clear about these numbers, but all consultations are important. I am here to see what others think.
I honestly feel that our HIVE needs a major internal change that would create demand for $HIVE and push the price above $1
Our HIVETwitter movement will continue to attract big investors from outside