I share the same thoughts as you. This thing is built to eat Hive every day for the rest of its life, which is forever theoretically. The daily auctions allow the system to absorb the largest amounts of energy from speculative waves. Short-form sales, "timing" matters; this thing will be available every day in every climate. Just look at how some of the similar releases went, 4bil+ to EOS in 1 year of daily auctions, whose funders turned into BTC and just hodl. No founders here; the community gets all of that money; I really do think this thing could get pretty wild and become a standard on how people do these things moving forward.
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Hive may need to increase the inflation rate down the road if this just keeps locking it up. Or are there ways for it to come back into the market again, say by funding new projects or paying rewards on Defi LPs?
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Hive is set to decrease in inflation every block until it reaches just under 1% yearly inflation. Keep in mind Hive is highly divisible and RCs are shared by usage.
Excuse my ignorance/curiosity: how does Hive's divisibility help with inflation?
The question was pertaining to increasing inflation because if there is a lot of Hive locked in the SIP, then we could face a liquidity crisis.
The fact is, with 3 decimal places, we really have 3X as much Hive potentially. Of course, the price would have to increase substantially to even out.
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3 decimal places is 1000x, not 3x. it's just a change in significant digits, not a quantitative change though. still if it does permanently burn a lot of stake, it could create massive pressure for the price to equilibrate to the new effective supply...
LOL yes you are correct. Thanks for that.
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Based upon the Light Paper, payouts from the SIP take the form of BROCA and SPEAK. That is how the infrastructure providers and other participants are rewarded.
Keep in mind that this is the base layer SIP. Any community can have its own SIP consisting of BROCA and their native token. Hence we have a gateway into whatever projects the community (or any community) wants to fund.
That is how I understand it at least.
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Me too
It is always good to put money to use instead of burning it. Why torch capital when it can generate a significant return. As you pointed out, Block.One understood this. Of course, that didnt benefit the community, just a few insiders.
The SIP will benefit everyone who is a holder of SPEAK as well as HIVE.
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We hope that this will also incentivise other open source developers / teams to think or and integrate more sinks / use cases for the sip so that the eco system can provide peer to peer / autonomous services
There literally can be layer upon layer built. That is the wonderful aspect to all of this. We could see thousands of SIPs forming around every project imaginable.
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Yup
I agree.
We are currently putting adding Thunkgaria to the project on our roadmap.
great like to see it in action soon