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RE: CBRS Podcast 32 | TheDappList, Hive-Echo, Gosh, Ecency, Lego, Fun and More

in Threespeak5 months ago

Hello guys. Thanks for noticing and talking about the various work done by many people around here, including my bit of work on the open-source hbdstabilizer. Let me see if I can shed some light on it.

Now that there is an open-source hbdstabilizer software, anyone can run one. It doesn't have to be just smooth running one, it can be more decentralized. But why would you want to run it? Simply, in order to help keep HBD's peg. It's simply to participate in helping keep the peg. There are no benefits to you personally for running it. You make a DHF proposal, but the hbdstabilizer bot that you run uses all the money from that proposal to buy and sell on the market in order to help keep the peg. When HBD is at peg, the hbdstabilizer bot immediately returns the money to the DHF.

But let's say that you want to be compensated for running the hbdstabilizer. (Even though there's really no work involved, but let's just give it as an example to better understand the whole concept.) In that case, you would make a DHF proposal, and you would keep a percentage of the funds for yourself, and the rest will be used to help keep the peg. In such a scenario there is a personal benefit to you.

Now, the last thing which might have been confusing: if you make a DHF proposal and you promise to use the funds to help keep the HBD peg, why should the Hive stakeholders trust you and upvote your proposal? After all, you might run away with the money. Well, to help with this, I had the idea that there could be a tool which regularly checks your DHF proposal and how the funds are being used. If the tool detects the funds are not used properly, it will quickly take appropriate action. So the Hive stakeholders can have more peace of mind and don't have to manually check how the funds are used.

I hope this clarifies it a little bit, but let me know.

You also mentioned something interesting - could such an hbdstabilizer be used to help keep the peg of an L2 stablecoin? I had not thought of this but in principle it would be possible, yes.

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Thanks for an amazing explanation, I will try to bring it up in the next pod. And as you said, it is very dangerous to give such power to someone you don't know to play w so much funds!

Great work!