what's with the 5%tax for hive to hbd conversion?
is that to stop manipulation of the price or something?
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what's with the 5%tax for hive to hbd conversion?
is that to stop manipulation of the price or something?
Posted Using LeoFinance Beta
Yeah the idea behind the tax is that we want to add friction to this process so that it can't be exploited.
Ideally, we want users to be trading HBD and Hive on the open market, not using these failsafes whenever it suits them.
By creating a 5 cent buffer ($1.00 - $1.05) there's a lot of wiggle room to continue trading and providing liquidity to the free-market.