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.
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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.