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RE: HBD Defenses: How HBD Is Different From UST

in LeoFinance2 years ago (edited)

One thing I like about the haircut is that it tells people HBD is not risk free. You are being explicitly told that you are taking risk. If HIVE fails to hold enough value, there is no nonsense about how printing trillions of HIVE is going to save you.

Of course, you do need to understand what you're buying, and it isn't necessarily clearly explained all the time.

That's not the only risk, but once you have one explicit risk, it isn't claiming to be risk free.

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Any real reason why not remove HBD and make a DAI out of it? DAO could easy pay in hive connected to $ value of hive.

I think this would scale better to some higher level

I'm not even sold on DAI being better in any useful way. For one thing, a lot of its collateral is USDC (used to be the majority, but less than that now). What's the point of that?

Until you show me a collateralized stablecoin with only on-chain assets as collateral demonstrating clear superiority l don't see the point in a major revamp. This has been done before, of course. DAI originally did that, but didn't perform that well, leading to the current situation. BitUSD was the first I think.

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