According to recent reports ( https://peakd.com/hive-167922/@dalz/hbd-savings-are-up-or-data-for-transfers-by-date-and-users ), there are 2.7 million HBD in savings. It is extremely difficult to swap any larger amount of HBD to Hive and then back to HBD due to lack of liquidity, so the people who are storing their wealth in the Hive blockchain (savings account) are unfortunately getting left out of the airdrop. It would be great to include them as they obviously see a bright future for the blockchain, so much so that they store their wealth in it.
It seems very easy to calculate how much each HBD should be airdropped. On Jan 6th, someone could use the HBD to Hive conversion operation of the blockchain to convert 1 HBD to Hive. After 3.5 days, however much Hive was received, then this is how much Hive one HBD is equivalent to at this point in time.
Using this simple operation, people who hold HBD in savings can be included in this and any future airdrops to Hive holders. It seems important to me to include them. And if HBD in savings goes up to tens and hundreds of millions of HBD, there won't be enough liquidity for them to convert to Hive and back to HBD in order to participate in airdrops. They'll be left out unless the project aidrops to HBD in savings also.
Seems like a minor change to include, if the snapshot already records HBD balances, should be easy to aidrop to them in addition to the Hive balances.
HBD is a stable coin. HIVE is not. We cannot give you 1 per Hive and 1 per HBD. The only way to achieve this would be to count the price of HIVE at the time of the snapshot, then say you get x in HBD vs. the price of HIVE. So if HIVE is 2$ and HBD is 1$, you would get 1 NFT per 2 HBD.
The HIVE price fluctuates on exchanges, and we can't use any exchange for the price as it can easily be manipulated. We understand that this would be ideal to drop to both HBD and HIVE, but we just do not see a good way to do it. It would be overly complicated. If someone has an easy solution, we are definitely open to hearing a practical way to go about this for future games.
Thanks for considering it! Yes, a very simple solution would be to use the HBD to Hive conversion operation that the Hive blockchain itself has. The blockchain allows for converting HBD to Hive (also the other way around, but then there is a 5% fee). So you can use the decentralized blockchain to convert 1 HBD to Hive. The conversion operation takes 3.5 days, after which you get Hive. However much Hive you got, then this is how much Hive is equivalent to 1 HBD, as defined by the blockchain itself. The conversion operation could be started on Jan 6th, so on Jan 9th you will have the Hive and the answer of how much Hive 1 HBD is equivalent to. :)
EDIT* We have found there is no "simple" in blockchain. But we will look into this and see if it is a possibility. But we are proceeding with HIVE/HP only. Maybe for future game drops we can consider this method. Thank you.
Thank you! Yes, the major Hive frontends have already built an interface for the HBD to Hive conversion in their wallet sections. Here are the steps to do it on the PeakD.com frontend (which is the most popular Hive frontend currently):
That's it! After 3.5 days, the blockchain will send you the equivalent amount of Hive for the 1 HBD you converted.
ridiculous to have to do all this, just tally the entire HIVE wallet and drop the tokens, plain and simple, stop with all the hoops
This is not for users to do but for apps that do the airdrop so they can calculate how much Hive an HBD is equivalent to.
what do i need to be eligible for the snapshot?
I'm withdrawing my HBD from savings at the moment to trade it in the inner market for Hive. I fully expect to lose quite a bit on slippage but I still think it will be worth it, though I wish I had done so sooner as I kind of expect the price to start going higher due to these airdrops (seems it already has started). It'd be cool if they could include it but it's not going to be that much of an issue if they don't.
I don't think you'll lose that much if you are a little careful. Stabilizer buys and sells a lot without much slippage. If there was a lot of slippage it's job would be easier. Mostly the arbitrage bots won't let the market move that much (unless you do it in a very careless way like one big order far from the market).
Imagine hundreds of thousands (or millions) of HBD being sold for Hive and then the Hive being sold for HBD. How is it going to happen without enormous slippage if everyone wants to buy at the same time and then sell at the same time?
I doubt there will be millions, but even if it's over 100k it should work, it may take a while and you'll have to wait around for the market maker bots to do their thing, but there's millions of $ of daily volume on Hive/USDT on the centralized exchanges so there will definitely be market maker bots doing arbitrage providing the needed volume for the interested traders in the inner market. At least if HBD keeps being stable during all of it which we hope it does thanks to the DHF proposal and @hbd.funder rewards being used to stabilize it. Another reason as to why those are important.
Imagine Hive dropping 20% in price (quite likely after the snapshot) while you wait for days to sell back your Hive for HBD. Seems like a very big risk if you have put a lot of your wealth in HBD savings.
You can convert HBD to Hive, but then you want to exchange the Hive back to HBD because that's how you store your wealth. The HBD to Hive conversion has no fees, but the Hive to HBD conversion has a 5% fee. So a bunch of people would be stuck with a bunch of Hive that they want to sell for HBD asap, which translates to big slippage.
couldn't you just convert it to Hive?
Only gets you half instantly and the rest after 3 days which would miss the snapshot, also costs 5% as it's mainly meant to be used when HBD is overpriced.
actually I just realized that HBD > Hive is the old way right? So no 5% fee.
Oh true, my bad.
You don't get half right away on HBD->HIVE conversion. In that direction you have to wait the 3.5 days for all of it.
I'm really not worried either way. There's so many hoops and jockeying to get airdrops, DAPPS really just need to take the overall wallet into consideration. Too many steps is a big turn off to casual users. Wake up and make shit user friendly !