I have been meaning to suggest this to you for some time, but with the implementation of time locked vaults at the base layer coming at some point, now is a good time.
Instead of being coded as a single time lock vault time (e.g. 1 year), I propose that it should be coded as a witness voted on yield curve so users can select their own time frame (e.g. 30 days, 44 days, 90 days, 1000 days, etc). This approach is more complicated but I assume a single time lock vault option will not be enough for the Hive Financial Network in 10 years so in my opinion we might as well code it for the future now.
This approach would allow for maximal flexibility with a single base code development. This would be similar to the FED’s yield curve.
Thoughts?
An interesting idea.
I am not sure what the best approach is. Certainly I believe that multiple time vaults will be required at some point. How to be proceed is up to people above my pay grade. LOL
It is something that will have to be worked out. Having a sliding scale that the witnesses can alter is an interesting idea. They could change both the interest along with the time.
That would allow one vault set up. I wonder, once in place, how hard it is to add more. Can that be coded in and put live if the witnesses determine?
These are questions that the core devs might have to opine about.
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Exactly, the developers will have to decide the best way to implement these things.
The main point that needs to be highlighted in my opinion is the fact that a simple, single time lock vault, although cool and innovative, won’t ultimately accomplish what is needed. Instead of developing just a quickly outdated stepping stone, I would prefer that development focus on the end goal in mind, which our developers are awesome at but it doesn’t hurt to keep highlighting these things.