Glad to be reading this post, I agree; HBD is still very early. The most known utility is to mint more HBD when locking it up or to convert it to Hive. The mechanism of how HBD is printed is pretty much in line with how our current employee-pay system works (monthly paychecks).
Imagine having the option to delegate Locked HBD in Savings to someone for X time. How difficult would this be to implement in our system?
If we scope in this just a tiny bit; As an employee, I have to guarantee to do my work, as well as my employer, who then needs to guarantee me that I have work. Having enough liquidity as an employer is one responsibility/requirement to be able to guarantee pay + work to an employee. Wouldn't this be a trustless 2-way agreement/contract? Read as; a massive utility opportunity for HBD?
If your monthly pay or a project budget is 1,000 HBD... Imagine the TVL of HBD in savings ($60K in HBD) required to mint 1K HBD per month, thus, lowering the selling pressure. As more user cases come for HBD, the more it should be used, and the more value that should be locked.
If 17 million people (The Netherlands) would get 1,000 HBD per month. TVL would be
$1.020.000.000.000 ($1.02 T), for the entire global population it would be 45x the size of the entire gold market.
It is certainly an idea I would like to explore more. But as I was thinking about it, I thought you might enjoy sharing your thoughts about it as well (and I think this post was the right moment to share). Of course, there are CONS that would be challenging, but I'm sure most of it will come down to accepting HBD as payment for people.
Cheers :))
LOL I am not sure HBD will be funding the entire global market but it is fun to think big.
I have no idea of the coding that would be done but, more importantly, why would you delegate lock HBD? It has no impact upon voting.
That said, the idea of Hive Bonds is to provide liquidity AND collateralization ability to the locked HBD. It will be a layer 2 solution, something that can really alter the landscape of Hive Finance.
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Haha, yeah 🤣 was just pointing out that it is '45x' the size of the entire gold market.
For governance, people would have to stake and lock Hive.
Having the option to delegate locked HBD (someone else will receive minted HBD rewards) unlocks new innovative ways to think that bring more layer-1 utility for HBD.
If I lock 600 HBD for one month, I would mint 10 HBD for myself. I can spend that 10 HBD.
If I lock 600 HBD, and delegate that for 1 month to someone, that someone receives 10 HBD.
I can think of many use cases for wanting to do that. I mean, that 10 HBD is worth something to someone, right? Having the option to delegate a stable-coin that gives interest to the delegated to me is pretty mind-blowing. I could help someone, or pay someone without losing much value other than the inflation on HBD.
Let's say, for example, a Netflix kind of service provider is building on top of Hive, and accepts HBD. Instead of charging people 5 HBD per month, they could charge a 300 HBD delegation instead that is tied to an agreement (if delegation = 300HBD: then provide username access to, else, revoke access).
Oh well... I don't want to waste your time and pollute your brain too much with someone that doesn't exist (yet). But it is fun indeed to think about it :)