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RE: Some speculation on HBD price movements and how it impacts proposals

in #hive • 3 years ago

You have already wrote about a work to try to fix HBD to 1$ in the last post.

HIVE-Engine has SWAP.HBD that is a HBD synthetic this work to stabilize HBD will have impact also on SWAP.HBD?

I am questioning this because they are on different markets.

3 years ago in #hive by
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     3 years ago  

    SWAP.HBD is comparable to a wrapped token. The fact that it's on a layer-2 is basically no different than looking at HBD priced across multiple exchanges (Bittrex, Huobi, etc.) Sure prices can vary but due to arbitrage opportunities they should broadly fall in line. So stabilizing HBD absolutely should stabilize SWAP.HBD to the same degree.

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     3 years ago (edited) 

    I'm not aware of how SWAP.HBD is being used to stabilize HBD, but in practice I don't see how it could be done by that alone, because the only effective way to fight an HBD pump is to create more HBD supply, and only the blockchain code mechanisms can do that.

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       3 years ago  

      Oh, sorry, I misread your question the first time I think. To answer your question, yes, the work to stabilize the value of HBD will also help stabilize the value of SWAP.HBD.

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         3 years ago  

        Thanks for your feedback.

        You dont need to apologize when I read the previous post about this I got this question but I did not put it.

        I took advantage now to clarify my doubt.

        Thanks once more for clarifying my doubt.

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