The damage has been from people thinking that 20% is too good to be true and a scam, especially after the collapse of Terra Luna.... and the 2nd thing is that 20% doesn't come from nowhere... it is basically a value extraction method for insiders like there is on all Proof of Stake chains.
As much as I have enjoyed the 20% APR through @solominer.stake I do feel like it was not sustainable.. no way to prove that just seemed like being able to cash out HBD for so much Hive would lower the price.
I support them lowering the rate to 15% and I am not going to panic sell my HBD because of that. Hopefully it does not go the way of Luna.. that was quite the disaster.
Then the damage is not done by the 20% HBD savings interest, but by the thoughts and the sentiments of some Hive users. If this even affected the price/value of the Hive at all.
How the 20% (currently 15%) HBD savings interest is damaging?
The damage has been from people thinking that 20% is too good to be true and a scam, especially after the collapse of Terra Luna.... and the 2nd thing is that 20% doesn't come from nowhere... it is basically a value extraction method for insiders like there is on all Proof of Stake chains.
As much as I have enjoyed the 20% APR through @solominer.stake I do feel like it was not sustainable.. no way to prove that just seemed like being able to cash out HBD for so much Hive would lower the price.
I support them lowering the rate to 15% and I am not going to panic sell my HBD because of that. Hopefully it does not go the way of Luna.. that was quite the disaster.
Then the damage is not done by the 20% HBD savings interest, but by the thoughts and the sentiments of some Hive users. If this even affected the price/value of the Hive at all.
I do not think any damage has been done.. All altcoins are down. So Hive is no different.
But if we want to stabilize the price.. making changes to yields may be the way to do it.