HBD savings is paying 10%

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Has there been a significant increase in saved HBD?

I don't know how to use HiveSQL (nor any other tool that can do this) so I don't know but last report I saw it had increased from 400k to 550k. That was several days ago, before the increase to 10%.

I do know that the flow direction of the stabilizer is still absorbing HBD from the market rather than supplying it (likely due to bag holders from the pump continuing to unload it). Perhaps that will start to shift after the change 10% which just happened within the last day or so, we'll see. Plus, of course, the bag holders will exhaust their bags at some point too.

It will be interesting to watch what is happening with it over time as demand rises and falls in the markets.

@dalz has you covered:
https://peakd.com/hive-167922/@dalz/hbd-transfers-to-savings-or-data-by-date-and-users

I think there were some errors in that unless he fixed it.

very nice... time to take advantage of it!

well , I can speak for myself: just bought some HBD to save it. 5k =D yay! now hive has an interesting savings account!

Wen test of the peg?

I was hoping for some easy money.

I looked only at deposits, and there was around 800k, but one big player has withdrawn a big amount as well, so the net is somewhere 500k to 600k.

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To support your work, I also upvoted your post!

I'm starting to feel better about using HBD as a stablecoin with everything that has been happening. Good to to see the jump to 10%!

now we need to get rid of the 5% converting fee and we can expand massively on HBD.

Trade on the internal market if you want to get a $1 price, the stabilizer frequently brings it back to$1 there.

Would be interesting to read your thoughts on @edicted's idea to make an internal AMM.

Thanks. Moved all my HBD to savings.

https://twitter.com/offgrid/status/1417082698548531206
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I would like to see that done via a smart contract platform as I consider the functionality too complicated and potentially unstable (in the sense of wanting upgrades) to make it a good fit to build into the base layer.

Once we have that, sure it is a reasonable application to build.

It's easy to get this data from HiveSQL, it's currently ~650k HBD

Yes it is changing a lot these days :)

It's already ~650k

I do like it. I believe it will provide stable ground for steady pegged HBD.

stabilizer has done a good job but now we are at the point where we need hbd/usd pair, Hive-Engine SWAP.USDC/ SWAP.HBD pair would be a good start

I don't want to buy at a dollar, I want to buy at 50cents.

I was just hoping that I could start converting right away rather than have to wait for a pump.
Where is that $15 hbd now?

lol

Ah yes, so it's "official." I noticed it had jumped to 10%; that's a pretty nice incentive, especially if the peg holds reasonably well.

So. Make it an even 12 next week?

I think realistically at least some of the witnesses are going to want to give it some time to see if 10% generates high demand.

I don't know how to tell if that is a good idea.

Stablecoins need to work on demand. There is no difference between sell for a tether or sell for HBD. The only impacts that happen big time are under 1$.

We should start burn as much as possible on low prices and promote HBD with 10% APR.

Hive into HBD under 1$is a longer win. IF the demand for HBD becomes higher, the price of hive rises too. The stablecoin market is a multi-billion$ market and we limit HBD to a low million one with this.

With on-demand, HBD could become a stablecoin on other chains too, defi and so on. It could be a big thing.

IMO fee is too high. 5% is way too much.

Nobody pays for yield farm 10% a 5% fee. on 100k it would be a 5k fee... And yes I know we have a market, but only with a total of 6 Million HBD...

0,1% to 0,3% are competitive. if we want a fee. But we don't need a fee IMO.

If we add an onchain defi pool with 10% APR between Hive and HBD that charges a fee for trading, it would remove all outside risks because the liquidity is here.

Because of the fee, the staker / liquidity provider earns additional yield besides the 10%. the fee should be low like on Uniswap.

IMO this liquidity pool could be the backbone of an interchain stable coin. With feeless converting it would allow printing as much as needed. If someone needs 1 Billion HBD, it could be printed and Hive would skyrocket.

To prevent abuse it could be a 3,5days past average and 3,5 days future average. So it would be never the price of a spike. It is very hard to manipulate.

IMO this is a vision for HBD. All other things are more play money like an ingame currency on a videogame.

And some Sidenote: If it would be worth the 5% fee, we would see a massive run into HBD. 10% APR is really competitive.

I see nothing, no whale moves in. Only some people that saves now the author earnings. Wow...

I don't know that the typical buyer has to pay the fee. The fee effectively (soft) caps the price at 1.05, but it may still trade much lower most of the time. Even if it trades a bit above $1, that's good for Hive in terms of economics, but it's a much smaller fee for buyers.

And some Sidenote: If it would be worth the 5% fee, we would see a massive run into HBD. 10% APR is really competitive

Not seeing that happening. For nearly all of the past 24 hours you could buy HBD for under $1, essentially a negative fee. It takes more than price to make something attractive.

If we start to see an equilibrium that is a bit over $1, then it would be a stronger case that the loose cap is constraining demand, but I don't see it yet.

this is good sign to compete with USDT and other stablecoin in open market where these coins gives good amount of interest on holding or staking .finally good initiative for HBD.

Not seeing that happening. For nearly all of the past 24 hours you could buy HBD for under $1, essentially a negative fee. It takes more than price to make something attractive.

Like I told, no run on HBD. 10% are really good for a stable ( if it's stable).

A pool could be the solution IMO. If there no outsides fees, it would always worth to stake more in the pool

If the price hits 0,998232$ it would be worth converting hive into HBD. If it's higher the same the other way. A trading fee can make it worth taking the risk to stake into the pool

It would be work as a decentralized bank, and this makes me really exciting thinking about it.

Useful, fast, and with competitive fees.

Think about the marketing that we can build behind.

No transaction fees

10% apr

high liquidity

Token versions on ETh, BSC and any other smart contract chain.

Maybe a Dex that uses HBD. Build around a stable coin can be besides SMTs such a big thing. I hope we doesn't miss this opportunity out because of fear of taking action.

Worst case Haircut comes in and panic sell. Yeah it would suck, but how likely would it be if a big pool is in place?

With inflow and outflow cash a pool it would need such a massive amount to attack with the risk, it gets absorbt.

The math behind is a bit random, but as bigger the pool becomes between HBD/Hive and more liquidity it becomes super unlikely to get bust. Only at the start, but to attack it needs HBD and there are not enough available for it.

And if big enough, the pool is also bigger :)

IMO we should really think about it.

At a glance I'm seeing a range of 5% to 12%. Is it possible to receive a different rate than the stated 10% dependent on which block producer did the thing with the stuff and the transactions at the time?

It's based on the median so the median would have to shift (why it rarely changes).

nods confidently

I think that the conversion fee is superfluous. The interest paid on HBD savings could be a factor that drives demand for Hive but the 5% fee effectively cuts into the APR right off the bat. There is already an inherent risk that the conversion will result in receiving less HBD per hive due to the 3.5-day delay in completing the operation (compared to the market rate).

Also, if the conversion operation uses the lowest price from the feed as initially proposed by @blocktrades (instead of the median), we have another hidden cost under certain market conditions. But I am not sure if that logic was left in the code.

Short and simple but meaningful.
I love this interest rate of 10%. Almost double of what banks pay here.

the 5% fee effectively cuts into the APR right off the bat

It cuts into the APR if you use the conversion operation, but in practice you can buy from the market and not pay the fee (or even buy at <$1 which is effectively a negative fee). We have no experience seeing sustained market conditions where the price remains at or even near 1.05, so it would be rare for anyone to be paying the fee. The only time it happens is if and when the price of HBD goes above 1.05, in which case you can make an immediate profit by selling it (clearly worth paying the fee).

There is already an inherent risk that the conversion will result in receiving less HBD per hive due to the 3.5-day delay in completing the operation

I guess it's a risk strictly speaking, but you can also receive more.

if the conversion operation uses the lowest price from the feed as initially proposed by @blocktrades (instead of the median)

It uses the median. The lowest price is only used to determine the excess collateral needed for the 3.5 day loan (it is a loan because the HBD is delivered immediately even though the rate is determined and the actual conversion can be said to occur after 3.5 days).

You're probably wondering why such a small post got so much reward. The answer is simple, all the rewards for this post are going towards funding future development of Hive, rather than to the poster (that's what that beneficiary message at the bottom of the post is talking about).

It uses the median. The lowest price is only used to determine the excess collateral needed for the 3.5 day loan (it is a loan because the HBD is delivered immediately even though the rate is determined and the actual conversion can be said to occur after 3.5 days).

I misunderstood the mechanics of the conversion process. If we view it as a loan instead, then a fee is justified. I still think that it is a bit high (~2 percent would be better in my view), but that is just my opinion.

Are you satisfied with how the peg has been holding? I guess many people are really encouraged as they see it stay close to $1.00 better than ever before.

One possibility for improvement might be to change the HBD to Hive conversion operation to resemble the Hive to HBD operation. Hive to HBD gives you 50% right away. But HBD to Hive makes you wait 3.5 days to get any Hive. This seems to put a delay in how fast the hbdstabilizer (and any other potential actors that want to stabilize the HBD price) can react.

I think we should give it some time and assess.

I would like to see both conversion operations shifted down by half the fee (i.e. convert HBD to HIVE at 97.5 and convert HIVE to HBD at 1.025) which would make the fee 2.5% in effect. But it could be that the total fee should also be smaller (say 1% on each side). In any case I think we should assess for a while before making any changes.

How it works? I should moving HBD to Hive Savings? or not?

If you plan to keep the HBD for a while and won't have an immediate need for it, then yes, it is best to keep it in savings, because it will collect interest payments there.

Takes 3 days to get it back out. That's the tradeoff.

I forgot to thank you for this heads up that I passed on to some folks ... until now. Thank you!

Annually??

What's happened with @hbdstabilizer? It hasn't made any actions in a few hours.

Yes

Not sure why but the bot got stuck (first and only time). I restarted it everything looks normal.

Not sure why but the bot got stuck (first and only time). I restarted it everything looks normal.

Nice, 10% is very good. Nice to see you again. This is @armen from steemit days. Back at it posting my weed grows.

Hey armen, good to see you here.

Currently it is now about 20% and that is a good interest for those who save in hbd savings. Hive to the moon and it is one of the most friendly Blockchain I have came accross. I didn't regret leaving the Bitcoincash Blockchain, and hope to find the desired satisfaction in the hive Blockchain.