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RE: Blocktrades proposal to quarantine and increase HBD interest rates

in LeoFinance3 years ago

Perhaps I'm wrong in thinking that giving governance votes to stake in the savings accounts sounds like a trivial process. For the most part I assume that there are a ton of people who just want passive rewards that don't want to be active in the community, so you can't really throw the baby out with the bathwater on this one. We get rid of people who shouldn't have a vote by offering them passive rewards elsewhere. Not too worried if some users don't get to have their cake and eat it too.

Those who want passive rewards and governance votes?

We still have curation bots providing that exact service.

Considering that we've already outsourced the blogging aspect of the network to dozens of tokens and condenser clones... it's not ridiculous to imagine a future where Hive pivots too 100% DeFi, eliminating the reward pool in its current form and allocating all inflation to the savings accounts as a yield farming mechanism. All governance votes and Resource Credit allocations would then also be moved to the savings accounts.

All it takes is one killer dapp to start filling up all our blocks and much of the consensus mechanisms we have today will make zero sense. Blogging will not survive the competition. Hive has shown it can roll with the punches though so I'm not too worried about that. This network is pretty good at reactive evolution.

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it's not ridiculous to imagine a future where Hive pivots too 100% DeFi, eliminating the reward pool in its current form

Fully agree. I already suggested the idea of moving the social stuffs to layer 2 and communities at SteemFest4 in BKK during the witnesses talk, but it was not warmly welcomed at that time.

Yeah I was pretty strongly against it as well.
I think it's just a waiting game until we get forced into it.