Previous HBD stabilizer proposals have grown with available funding from DHF. With this proposal, funding is being scaled back, with the intent that it operate as a more ordinary DHF proposal and no longer as a substitute for the "return proposal", absorbing all available budget.
As such, there is room for other community members to propose (and, if they choose, stakeholders to approve) their own HBD stabilizer proposals. Having multiple independent proposals would likely make the system more resilient (if one stabilizer bot had downtime, as has occasionally occurred, others would keep going). It also reduces the exposure to a single stabilizer bot getting hacked or the operator going rogue and running off with some funds (ongoing funding would stop as soon as someone noticed and stakeholders unvoted it, but some damage could already be done).
Although the implementation I am using is not open source, the algorithm is open source and others are free to copy it, use it as the basis for their own stabilizer implementation or proposals, and/or improve on it. It is quite basic and can likely be improved, both in terms of peg-supporting and in terms of profit generated and returned to DHF.
In addition to the now slimmed-down budget, the stabilizer recipient account for this proposal will continue to accept, power down, use for stabilizing, and return to DHF, any beneficiary rewards sent to it by the @hbd.funder account, as well as any other beneficiary rewards or other donations to the @hbdstabilizer account.
Important note: since this proposal will no longer consume all available funding, stakeholders should direct some renewed attention at the voting of the return proposal
Proposal number 264
Hivesigner link to approve
Peakd proposal link
Ecency proposal link
100% beneficiary to @hbdstabilizer
It will be interesting to see the impact on HBD price in upcoming weeks with reduced stabilizer funding.
Some days it won't make a difference because the stabilizer, even with the previous, larger, proposal does nothing and just sends most or all of the funding back.
Other days, when there is more imbalance, it may deviate more from the peg. If it looks like more funding is needed that would be all the more reason for someone else to make another proposal, though I think this is a good idea for robustness in any case.
Totally agree. It was non-trivial to explain why we rely on a single entity to keep our stable coin actually stable. I would happily support a proposal to develop an open-source bot based on your algorithm shared on github.
Agree.
FWIW, I think ChatGPT can come close to working code given the algorithm pseudocode. It doesn't quite get APIs right, but that can probably be fixed with prompts.
This is an improvement as IMHO the popularity of the HBD stabiliser proposal was setting the bar too high for other DHF proposals.
Thanks for fixing this.
The bar is still set far too low judging by what gets funded.
I think it is also less confusing in terms of voting to not be a 'return' substitute and just get voted like any other proposal: if you support it you you vote for it, and if you don't, you don't.
I believe at one point I unvoted the previous proposal which is silly because I obviously supported it, but I had to do that because it was getting too many votes and knocking out other proposals.
Do you think some kind of priority system in the DHF could be done instead of binary support yes/no?
ie. everyone ranks the proposals they support in order of importance. I have a suspicion it would be computationally complex, but if it is viable it seems like it would be better than having to juggle votes for proposals based on how much support the return proposal has now.
I'm sure it 'could', but I don't really see that as likely to happen.
Applaud your work in this area and fully support this direction!
Thank you
Spreading the work is definitely crucial, should definitely make holding the peg on a rather more efficient scale.
24k only ... thats quite the reduction. I would have made it at least 100k, but its up to you
We can always add more proposals.
I cant say I'm too happy with the current situation wer in.
A proposal with which we limited the access to funds beyond the return proposal, the general lack of non-dev proposals, lack of new dapp proposals, lack of healthy competition for funding, the passive aggressive behavior from some towards those getting funding.
I think we are in a sort of a lull that in part came from Stabilizer keeping the peace and quiet. Might be time to let some controversy in to shake it all up. Get people talking about the DAO again as the amazing tool it is.
Just sitting on a pile of gold only ever gives you a bad back.
Throwing it to anyone won't bring anything good as well. I don't vote for every proposal but I always try to explain why, maybe it's time to do it publicly to open some space for discussions.
We've got plenty of funds in our DHF and that's great but we still need to spend it reasonably. We need more minor proposals to get approved to encourage "smaller" developers to make valuable stuff on Hive. People tend to refresh the proposals with increased funding which I often consider as "easy money" and that might be the main reason for this "passive-aggressive behavior" from some stakeholders. I do understand it but would personally prefer constructive criticism.
Why would you invoke the opposite extreme? No one even implied that.
I c, looks properly guided
I hope we get more proposals then because having a stable HBD is essential to this ecosystem
Nice
Congratulations @smooth! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next payout target is 970000 HP.
The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @smooth! Your post has been a top performer on the Hive blockchain and you have been rewarded with this rare badge
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
Hive still remains a mystery to me, how does the hive back dollars work, does it work like the popular tether or how is backed up to prevent it from losing it pegged. New to hive anyway and I have little experience in crypto and I hope to get more infos about hive and get to check on the hive ecosystem
Am a newbie in the building. Thanks for the great job Mr. Smooth
Is there a way I can get in touch with you on any social handles @smooth
did anyone start it own hbd stabilizer yet ? i mean i could try to make one if still needed
Not that I'm aware of. However, it's remaining stable even with the reduced stabilizer volume. Under more volatile market conditions, that might not be true, and having more stabilizers might become helpful.
well i don't mind making one, but i would like to know what there is to know, i mean i saw the https://github.com/iamsmooth/hbdstabilizer/blob/main/hbdstabilizer.txt this code so i guess i have to run it on a server to make a stabilizer. but what are the cost/things needed to run it ?
and yeah since you need a proposal to make it run idk if i will be able to get enough votes as a small user
Your code doesn't need to follow the same template, though it could. There is actually added value if there are different algorithms competing to trade toward the peg.
I'd vote for a small user, as long as the amount at risk isn't very large. My vote alone isn't enough but it is pretty large.
As for server, I don't know what sort of creative ways there might be to minimize that cost. In principle, you could run it at home if you have a system you can leave on, so the cost would be just power and (minimal) bandwidth. It might occasionally fail if your personal ISP isn't that reliable (but many are), but some occasional downtime isn't that big a deal for this.
Greetings...
Hey king! We need you, you're a such valuable member of the HIVE community and we need your help to bring the most advanced NFT market to HIVE that will integrate all the games and offer a new level experience to the NFT traders on all our blockchain. We're running a proposal and your vote is necessary to reach the goal. Thanks in advance king!
Congratulations smooth