Two months ago, in response to the impending expiration of the HBD proposal, I took the initiative to oversee the management of the HBD Stabilizer proposal. This proactive step ensured the unbroken operation of that critical component in maintaining Hive's financial stability.
At the request of @smooth, who is currently busy with other commitments, I will renew the proposal for an additional two months.
Having multiple community members involved in managing the HBD Stabilizer proposals provides resilience and ensures the system does not rely solely on one individual. This shared responsibility within our community not only strengthens the network's infrastructure but also underscores our collective commitment to maintaining Hive's robust financial ecosystem.
The HBD Stabilizer
The HBD Stabilizer is an important tool to maintain the Hive Backed Dollars (HBD) price stability. It serves as a significant mechanism in ensuring the stability of our blockchain economy.
By mitigating the HBD price volatility, it has contributed to the financial health and robustness of the Hive network. You can read the details provided in @smooth's post for more insights into the project's objectives and achievements ([1] [2] [3]).
Community Call to Action
The existing proposal (#328) is set to expire in one week.
I am once again reaching out to ask all members of the Hive community to support this proposal at their earliest convenience.
Your support and participation are crucial in maintaining the financial stability of our blockchain. Every vote counts in ensuring this service continues to operate effectively.
This proposal is planned to run for the next 2 months and will mirror the current terms, requesting the same amount of funding and directing the funds from the Decentralized Hive Fund (DHF) to the same beneficiary (@hbdstabilizer).
Support This Proposal:
- Vote for the proposal (#334) on Peakd.com
- Vote for the proposal (#334) on Ecency
- Vote for the Proposal (#334) on Hive.blog / https://wallet.hive.blog/proposals
- Vote for the Proposal (#334) using HiveSigner
Thank you!
100% beneficiary to @hbdstabilizer
12000 HBD per day is a bold request.
Have there ever been calculations if this was in the past needed at all? Were there some events that reached this edge?
If not, why not reduce it? Why is e.g. not 6000 per day enough?
I have checked it. All payments from the DHF to the HBD stabilizer go back to the DHF. Plus profit.
According to this comment, this proposal would not even be necessary if more users with their own coins worked the way the HBD stabilizer does. And they would even make a profit.
I would like it better if the Hive users would secure a stable HBD on their own initiative. But as long as this does not happen, I will support the central protection by the HBD stabilizer.
!BEER
View or trade
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BEERKING.Its a nice project, but am just curious though what will happend if HBD exceed the normal stable value
If HBD exceeds the target value, the stabilizer sells HBD to try to reduce the value, which also generates a profit for the stabilizer and the profit is returned to the DHF. If the value is more than $1.05, the stabilizer will also start to convert HIVE into HBD, which removes HIVE from circulation and also produces more HBD which can be sold at a profit (as above).
Anyone with a Hive wallet and their own coins can also do this, taking advantage of the imbalance to potentially generate a trading profit, but the stabilizer does it using DHF funds, all of which are then returned.
I guess everything is to keep balance in hive for better growth, now i see the need for such technology
Sometimes the HBD price is in the range of $1.10 - $1.20 for a long time. What is the reason for this? Is the HBD stabilizer not doing its job at that moment or are the witnesses entering the hive price with a delay?
You will find an answer to your question in [this post[(/@smooth/request-for-comments-hbd-stabilization-dhf-proposal)
Ok thanks a bunch will go through it
You will always have my support on all proposals.
Thank you @cryptosimplify
!BBH
Done!
Thank you @papilloncharity
Sounds good to me, I'll try to remember to support when on my laptop tomorrow PM
Thank you @ablaze
This is nice. I just voted the proposal.
Quick question, wouldn't it be a good thing if HBD exceeds $1?
Also, i was curious enough to check the votes, and i saw something that made me confused.
Please, what is the meaning of the phrase "use proxy," in the bracket?
Thank you for supporting the proposal!
Regarding your question about HBD exceeding $1, it's important to understand that HBD is designed to be a stablecoin, meaning its primary goal is to maintain a stable value of approximately $1 USD. If HBD were to consistently exceed $1, it could indicate instability or inefficiencies in the market. The stability mechanism ensures that HBD can be used reliably as a unit of account and store of value within the Hive ecosystem, which is crucial for users and developers who rely on predictable pricing.
Regarding the "use proxy", it refers to a feature on Hive where users can delegate their governance to another account, known as a proxy. When someone sets up a proxy, they are essentially allowing that account to vote on their behalf.
Done ! I like this proposal because I know the "Daily Pay" figure is really just liquidity the stabiliser can shuffle back and forth, it's not like someone is actually pulling 12K a day from Hive's market cap 😀
Thank you @alonicus
Done! Good to see this around here and still going strong!
Thank you @neruel
This is much needed for HBD to stay in peg value of USD. You have my support 💪
Thank you @kwick
Done!
;)
Thank you @jlinaresp
Voted for the proposal.
Thank you @dantrin
Thank you very much for the work you do.
You have my support.
May Positive pepEntropy be with you.
!LUV
!LOLZ
!CENT
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Thank you @fjworld
!PIZZA
You got my support @arcange
Thank you @elevator09
Interesting proposal, anything that gives stability to the blockchain has my support.
Thank you @mariiale1979
Supported this proposal!
Thank you @iyanpol12
You have my vote on your proposal.
Thank you @reidenling90
Most welcome my friend.
always stable. BTW, I already support the proposal
Thank you @waliphoto
It's great what you are doing but we must deal with bad downvotes on Hive
voted!
Thank you @tobetada
This is an amazing project that will bring balance and stability in the hive community. Thank you for the effort invested.
Vote and Supported!
sure thing 🦾
Wait, why is it only 60 days? Wouldn't something like a year make more sense?
Interesante
Done!