We implemented HIVE to HBD conversion mechanism to help the upper peg and not have that shit show again hopefully.
That is unaffected by what is mentioned here.
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We implemented HIVE to HBD conversion mechanism to help the upper peg and not have that shit show again hopefully.
That is unaffected by what is mentioned here.
Posted Using LeoFinance Beta
Sorry. I thought you meant 25% fee on HIVE => HBD.
Got confused there. My bad.
This is much worse. It breaks the peg right away.
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Yes but the 25% fee makes it less useful in that regard. It allows HBD to reach $1.25 without much resistance. Assume HIVE's market cap is $10 billion. The haircut rule won't print more than 3 billion HBD (considering the next hardfork). But HBD being $1.25 means 25% overprinting. $750 million more HIVE.