If we ever hope to have HBD be taken seriously we need a lot of supply. DAI has 4.5 billion usd of stablecoins.
Also on Gemini you can stake stablecoins for 7.1% apr.
This is becoming more of a thing on exchanges and defi rates are way higher.
If we want to attract people to using HBD we need billions of it printed and put into circulation.
This could be done by reducing Hive payouts or curation rewards amd paying out HBD more or almost exclusively instead, thus making Hive more scarce as well and that benefits long term holders due to reduced supply.
Thoughts?
liquidity pool not Interest for the only hold + increase it then up to 10%. Would IMO end up in higher prices and it would be harder to manipulate prices on exchanges.
More HBD is printed when Hive prices go up. Plus the DAO is generating HBD daily. HBD supply has doubled in the past few months, and as long as it can stay steady at $1, I'm sure more and more of it is going to just be held instead of converted into Hive.
Having anything less than 1 billion is too low
I think it's at 10 mil max now. After 5 years...
5 years of having no interest and therefore no particular reason to buy it or hold it. Mostly its been converted back down to HIVE (which in turn has likely resulted in more selling pressure on HIVE and a lower price)
Anyway, after the next hard fork it will be possible to convert HIVE into HBD. So as much as there is demand for can be created.
Do you think with upcoming changes we could see HBD grow to hundreds of millions in existence? Would get attention of exchanges and more people using it.
I'm not going to predict a number, as it depends on many factors including awareness and demand, but the mechanism to grow quickly is now there if needed.