plus 3 days time to converting or instant? I think it would not need both and 3 days would average out most time.
Or is there a reason i don't see? The best case would be we print a bazillion HBD and burn Hive with it. So defi platforms can use it as a stable coin.
Edit:
I ask because why should someone do it? If I can sell 1,05$ of Hive for 1,05USDT that's available on a lot of exchanges and easy to transfer. Why is HBD better in that case?
I guess the fee is a more direct money grab from speculator/pumpers than merely using it to buy HIVE would be. Which ends up benefiting Hive (stakeholders) more, I can't really say.
It takes 3.5 days to complete but the HBD is delivered immediately. To account for price fluctuation there is a overcollateralization.
To the speculator/pumpers point. If it is immediately, it is cool, but 5% way too high. How should HBD compete with other stables?
if I sell 1$ in Hive, I get 1USDT for it. With Haircut I don't see much abuse potential, it's more like people would less likely sell for Tether if they can use our onchain HBD.
More liquidity in Hive/HBD. The market wants to avoid fees. I think this makes a good idea to something that manipulates itself.
plus 3 days time to converting or instant? I think it would not need both and 3 days would average out most time.
Or is there a reason i don't see? The best case would be we print a bazillion HBD and burn Hive with it. So defi platforms can use it as a stable coin.
Edit:
I ask because why should someone do it? If I can sell 1,05$ of Hive for 1,05USDT that's available on a lot of exchanges and easy to transfer. Why is HBD better in that case?
I guess the fee is a more direct money grab from speculator/pumpers than merely using it to buy HIVE would be. Which ends up benefiting Hive (stakeholders) more, I can't really say.
It takes 3.5 days to complete but the HBD is delivered immediately. To account for price fluctuation there is a overcollateralization.
Very good to know :).
To the speculator/pumpers point. If it is immediately, it is cool, but 5% way too high. How should HBD compete with other stables?
if I sell 1$ in Hive, I get 1USDT for it. With Haircut I don't see much abuse potential, it's more like people would less likely sell for Tether if they can use our onchain HBD.
More liquidity in Hive/HBD. The market wants to avoid fees. I think this makes a good idea to something that manipulates itself.