Big problem with HBD is that it has zero [liquid] exchange listings and all arbitrage is done through the conversion mechanic. 3 days to convert is a long time when the market can swing like it is. It often looks like there's an arb opportunity but it comes at high risk of failure. The more the peg is broken the more the risk is worth it.
Do you think decreasing the conversion time could be a away?
What do you think of hbdstabilizer?
I see it as kind of emergency solution and would rather see some more organic community using the mechanisms.. which brings me to:
My biggest problem is, that it is not being advertised.. especially to traders.
People complain about problems with stablecoins but just keep centralising and therefore pushing the underlying premises for the problems they are complaining about. they now talk about pegging it to something else (what??) but the peg is not even the real problem..
And even if I try advertising our solution by myself.. my effort is either completely ignored all together.. or even worse.. HBD and me are being pushed into bad light and compared with Terra Luna..
What do you think about that?
I then can only say it is still working.. compared to Terra Luna. And tell them about incentives and the mechanism again, exactly as you just told me..
And they just reply with "it works until it doesn't" then.. - great! same with fucking everything! Also usdt, usdc, just paper dollar..!
Decreasing the conversion time increases the systemic risk of complete collapse.
I think it's been talked about before but lowering it less than 24 hours in basically impossible from that perspective. That ties into the "it works until it doesn't" idea. The way conversions operate ensure that it will keep working when considering the haircut and the fact that it can depeg on purpose.
Yes it would be great if we had more organic usage and more market makers than just the stabilizer. But we... don't. If HBD had exchange listings we'd have plenty of market makers automatically maintaining the peg. It's kind of like that saying: "When your rich everything comes free." A network like Hive struggles a lot because it's small and doesn't have a ton of network effect. The HBD problem gets fixed automatically if Hive just gets more adoption in general... which can be accomplished in a lot of different ways [in theory].
Struggling to make posts but still around.
Big problem with HBD is that it has zero [liquid] exchange listings and all arbitrage is done through the conversion mechanic. 3 days to convert is a long time when the market can swing like it is. It often looks like there's an arb opportunity but it comes at high risk of failure. The more the peg is broken the more the risk is worth it.
Good to see you still around :)
Do you think decreasing the conversion time could be a away?
What do you think of hbdstabilizer?
I see it as kind of emergency solution and would rather see some more organic community using the mechanisms.. which brings me to:
My biggest problem is, that it is not being advertised.. especially to traders.
People complain about problems with stablecoins but just keep centralising and therefore pushing the underlying premises for the problems they are complaining about. they now talk about pegging it to something else (what??) but the peg is not even the real problem..
What do you think about that?
I then can only say it is still working.. compared to Terra Luna. And tell them about incentives and the mechanism again, exactly as you just told me..
And they just reply with "it works until it doesn't" then.. - great! same with fucking everything! Also usdt, usdc, just paper dollar..!
Decreasing the conversion time increases the systemic risk of complete collapse.
I think it's been talked about before but lowering it less than 24 hours in basically impossible from that perspective. That ties into the "it works until it doesn't" idea. The way conversions operate ensure that it will keep working when considering the haircut and the fact that it can depeg on purpose.
Yes it would be great if we had more organic usage and more market makers than just the stabilizer. But we... don't. If HBD had exchange listings we'd have plenty of market makers automatically maintaining the peg. It's kind of like that saying: "When your rich everything comes free." A network like Hive struggles a lot because it's small and doesn't have a ton of network effect. The HBD problem gets fixed automatically if Hive just gets more adoption in general... which can be accomplished in a lot of different ways [in theory].