Fear not, hiveizens of the web3 digital finance commieunity. While the world outside crumbles like an undercooked cookie, your Hive Dollars remain perfectly safe, pristine, and untouchable backed by the temporary-permanent staked hive. At least according to the highest authorities in optimism.
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HIVE is paying over a $100,000 a month in interest on HBD. People are converting over a hundred thousand HBD to HIVE. The HBD interest is spawning over a million HIVE a month.
What I find amazing is that we are able to generate over a million HIVE a month to support the high interest without affecting the price of HIVE.
I mean the market can easily absorb a million HIVE a month because it comes from paying stupid high interest on a stablecoin. Stablecoins are that great.
BTW, HIVE is suffering from award pool abuse by unpopular authors. Please join the whales and help HIVE by down voting unpopular authors. If we vote unpopular authors off the platform, then HIVE will have only popular authors.
!WINE
Aha! I think I know why HBD is a little down. I think if you were the recipient of unsatisfactory pegging, you would be a little down too. Maybe someone should take HBD out to dinner, for a drink, or at least give it a kiss. I'm sure you'd respond more favorably to being treated to a night on the town, a few drinks, and kissed before you were pegged, amirite? You might even be up after such affectionate and considerate treatment. YMMV
Anyway, I haven't given this much thought before Engine's post, but now I am just as baffled as to what exactly the circuitous route tokens take in the Stabilizer is supposed to achieve. If they were buying HBD at a price higher than the $.96 it is currently on the market at, then I can see how that excessively convoluted mechanism would operate to raise the price. Same in reverse. However, they buyers would be paying the sellers a lot of money to do this, and a quick glance at Hive oligarchs suggests that would become a very popular opportunity to extract value from the ecosystem. After all that's who's upvoting the HBDfunder posts, and raking in the curation rewards for so doing bigly.
Who knows if something like that is actually happening. Is it happening? I sure dunno.
Thanks!
Please keep me post-it on your findings.