Out of my own naïve curiosity, is it possible to have a native DeFi platform that utilizes the savings wallet as an asset like Metamask? I think it would be valuable to offer a sink for liquid HIVE where it can earn, without trapping it into the 13 week PD cycle whilst still offering Hive features, including decentralization, security and feeless transactions.
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Are you suggesting an interest bearing account for Hive (similar to what has been previously proposed for HBD)? It's certainly possible to implement, although it's non-trivial and would be a new source of inflation, of course.
But on a macroeconomic level, I'm not sure what the justification would be though, unless it's just a way to get Hive out of circulation in order to increase scarcity. Generally, I'm not in favor of such mechanisms.
At the moment, almost 2/3rds of the Hive is liquid, but even though it can't be used for much out there, it seems that powering up isn't attractive enough. I suspect that it is likely that a fair bit of it is being sold in order to get into the trading pools on eth and BSC etc, since the ROI is so high. Wouldn't it make sense to add capabilities for HIVE to be used, to give more reason for people to buy off exchanges?
I don't really know what the real interest level in such things are. Yield chasing definitely does seem to be a thing right now, but it's not something I'm keen to work on, I'd rather work on other things that I think can provide more real world utility. But I'm not opposed to having such functionality on the chain, if someone wants to implement it (it's probably not that hard to do).
Yeah, I understand that. I am hoping there are some more use case coming. It might be an interesting way to back SMTs in some way though. I think that the Leo Finance team might be working on something for it on CUB, but I think that it would be useful to have more native functionality and gateways.
You seem to be proposing an alternate staking period. Possibly useful, but seems a bit of diminishing returns. I mean 13 weeks isn't THAT long (6.5 weeks average). There was probably a better case for this when power up was two years. At this point let's say we had an alternate shorter staking of 1 or 2 weeks. Is that really enough value add relative to 6.5 weeks?
What I was thinking (in my limited head on these things) was more along the lines of a holding pool, that could have contracts placed upon it for a portion of the tokens, so they would be able to be used for staking purposes, whilst still being held behind owner keys in some way. kind of like an escrow?
I have no idea if this is useful or even possible.
I was also wondering if it could be used to stabilize HBD directly in some way using its value. But I can't get my head around that one.
Or, what if the savings wallet was used as a pseudo-stake wallet, that had voting capabilities with a three day powerdown, but it couldn't vote on governance and a portion of what it earned was burned?
It's perfectly reasonable but I'm still wondering whether the value add is enough to be making that kind of change. I'm just not sure that people need dial-a-staking-period to this degree. The 13 weeks (6.5 avg) isn't that bad unless you are completely a drive-by.
You'd think. But I am one of the fools that is powering up :)
The problem is that it is important to have compelling reasons to buy and hopefully stake Hive, in an environment where the 15%ish on curation isn't competitive. There are heaps of positives to being staked on Hive, but as you know, many people still act on maximization of wealth, regardless of whether they enjoy it or not.
I don't see a big change there from a modestly shorter staking period.
The saving wallet has a three day unstaking period, which is quite a lot shorter, and could allow for that stake to be active without governing. I think it would need more than that to be attractive, but having it on chain and available, gives the potential to further build usecase for it.