I agree with your take as well. HBD changed the system completely and those interest rates are just way too high!
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I agree with your take as well. HBD changed the system completely and those interest rates are just way too high!
The tokenomics of HBD are some of the worst I have seen on any chain.
The problem is that most people here don't really understand how the system works. HBD is a problem that will have to be dealt with. Cutting the interest to 15 was something, but it needs to be much, much lower...
This is one measure, the other is the size of HBD now is over half the market cap and whether Hive can financially support the peg too? I don't think it can...
This problem is mostly because Hive goes through a 3-year bear market and 1-year bull market, at most. Maybe even more skewed toward bear market. And during that time, a higher amount of HIVE is needed to keep HBD at peg.
Hive is an old token now, we didn't have any meaningful cycle this time so far..