Disclaimer: This post is not financial advice. I am posting information that is accurate the the best of my knowledge.
I had to do a lot of digging to get this info and figured Id share what I've found out. I will talk more about how this lack of communication is hurting the project a little later in this post.
I'll share what I know as well as some questions, concerns and suggestions I have. I will try to keep this relatively short and to the point.
@dhedge please correct me where I get things wrong/misunderstand.
What is DVS?
DVS is a layer 2 token on hive. Dhedge Voting Shares. I has been live for a few months now but not much official info about how it all works has been made. Here' s what I know:
How it works:
For those with staked DVS every 2.5 hours the system does a snapshot based on available voting power. This amount is divided amongst all stakers -based on how many tokens they have staked-and put into a database (voting shares) . These shares continue to accrue every 2.5 hours.
When someone with voting shares makes a post ,40% of those shares are converted to an upvote (up to a 100% upvote).
So what happens if the HP of the dhedge voting bot suddenly decreases?
"If we lose a big chunk of HP like we just did, some larger percentage upvotes will be given out to try and compensate for the missing HP, but things will balance out as those shares get spent." -dhedge
Personally, I am very glad I stumbled across this info . I had questions about sustainability. I still have some questions but this clears a lot of things up. The snapshot/voting share distribution is based on the voting power at that time. This is important for long term sustainability.
Earn DVS by delegating to dhedge
The two main ways to acquire DVS is either to purchase them from the market or you can delegate HP to dhedge to earn daily DVS (and some dhedge). At first that rate was a flat 21% APR however that has changed a bit. Here's how it works now:
"...DVS code has been updated creating a green zone price for DVS. Right now this green zone is 0.5-1 HIVE per DVS. Below 0.5 APR will be below 21%, in that zone APR will be 21%, and above that zone APR will be above 21%. This has been added on top of the average price setup."-dhedge
Basically when the price is up -emissions go up, if the price falls so does the emission rate. Price is based on 72 hour rolling average I believe.
A few weeks ago some people manipulated the market and increased the emission for the day by 100x or something crazy like that. These changes hope to prevent things like this in the future.
One can never really predict what the market can do but before bad actors were "incentivized" to lower the price to receive more DVS tokens from delegations. Now that incentive is actually to keep the price up if hte goal is more DVS tokens for delegations.
The dhedge account and other accounts related ot the project are buying up a lot of the tokens that were minted in the clusterfuck a few weeks ago. It will be interesting to see what the market does in terms of token price.
Personally the price of this token is not as important to me as the value.
I am not sure what dhedge has planned to do with the tokens- this may not yet be decided.
This is basically all I know for now. Here are my thoughts. questions etc
Questions:
Are there any plans besides relying on delegations to increase dhedge's HP? If so what are they?
Is setting up a liquidity pool and using the tokens that are being bought back as rewards something that's being considered?
This could be a great way to distribute those tokens that have been bought back to liquidity providers.
What is the plan to increase communication?
I talk a lot about strategy to my Hive friends and they all say the same thing about dhedge/dvs-the communication sucks big time and makes the project less trust worthy.
Even simple "I'm working on things" posts would be better than nothing. Even if you aren't sure of a solution/action plan -communicate that as well.
Failure to communicate sends the message to the community that you don't care /respect them -even if that's not the case and you are simply overwhelmed/busy etc.
The dhedge/dvs community has been very patient waiting for an official guide post /more information in general abut how DVS works. I hope this can at least partially fill in that gap.
Taskmanager is one person doing a hell of a lot of work. Maybe it's time to add another person to help out with some tasks?
Weekly update posts are a good plan even if that update is simply stats etc. This can be automated for the most part.
I think having a consistent presence is important especially to new adopters/people not familiar with dhedge.
That's it for this post. I hope I got all of the information correct. I will do my best to edit this post for accuracy but please also read the comments.
I plan to do a separate strategy post on what I plan to do soon. Now that I have more information and understand how it works (I think lol).
I don't see anything incorrect other than the bit about it taking two weeks to communicate, the first post communicates intent to make changes, the second states those changes, and the third updates about additional changes.
That being said, communication is quite poor on my part. I've never been very good at it. Certainly isn't a lack of respect for the community. It's more of a stick to what I'm good at kind of thing.
To answer some of those questions:
User delegations alone can NOT be the only source of HP. Earned HP has been mostly directed to @dhedge.bonus. After it gets what it needs, I plan to split up some into HBD, and some into an account that delegates back into @dhedge, but uses it's income for things like liquidity pool rewards. It's still a delegation, but it's project controlled delegations. There are already a few of these that feed their rewards into our token delegation pools.
Yes a liquidity pool is being considered. I am also considering an update to the code so users receive their benefits (or partial benefits) while in the pool, or something along those lines to encourage users to join the pool (on top of liquidity rewards).
As for communication, I'm just going to have to do better. If I can't, I'll have to find someone who can.
Thanks for your response and additional info. I deleted the two weeks part . Thanks for pointing out the mistake.
I really appreciate you engaging in dialogue and taking constructive criticism. These are rare traits and it is appreciated.
Also very happy to hear abut the other source (s) of HP. Thanks so much for taking the time to reply , clarify some things and answer these questions. Much appreciated.
Thank you for taking the time to make this post
No problem. I had to write it all out to make sense of it in my head anyway, so figured I'd share it.
Posted in Discord - the !DHEDGE bot does not reset the counter any more for the last 2 days, it just keeps counting down to zero.
We had an issue with connecting to the hive engine api, it has been resolved for now and am going to set up our own node.
Thanks for responding ! I had faith that you would quickly get it resolved!
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Please try to communicate a little better. I was a bit disheartened after the manipulation two weeks ago when I dropped from #2 on the richlist to #10, as 600 DVS suddenly became nothing compared to the thousands they were able to get, and my investment dropped by more than half in value (not to mention the upvote dropping by almost 75%).
I don't blame you—I understand that these kinds of things happen. But I would appreciate more communication if I am going to invest more.
That's a sticky situation there, I think I've fixed things for new people coming in, and those who delegated received an even share, but people like you who bought in got things pretty rough.
I'm hoping to entice some of that staked DVS back into the market and get people a little closer to where they were by removing it (at least for a while) from the staked DVS equation, and place it somewhere I can control it's release.
Thanks for the response. Like I said, I don't blame you. But I would have liked to know what happened. It took me several days of talking to people to figure out what was going on; you could have cut through that confusion by issuing a statement explaining things as soon as you yourself got a handle on it.
That said, I'm glad you are trying to address things. I won't sell what I have. I will keep watching and may invest more, as I already have here and there.
I got hit the same way, got in early and had 600 DVS. Now the upvote and prices are both not real good. You're not alone!
There haven't been any distributions for dhedge or DVS for a few days now. Is this intentional or are the bots down?
there is a problem with hive engine, but should be up hopefully in 1 or 2 days
Thank you for this, I must admit I used to love DHEDGE and got good votes from it. Then the switch to DVS and it was okay at the beginning for me, but now far less so. I did hear about the episode a couple of weeks ago. To be honest I don't know if it is for me anymore.
Will have a think and wee dig around and see, I noticed there has been no DVS added to my account for the last couple of days either.
Good post!
Thanks for reading :)
The bot seems off or something. This happens once in a while. Not just dhedge/dvs.
Yes I understand. There is nothing wrong with a "wait and see" approach. Do what is best for you :)
Very useful, thanks @cryptounicorn420 for the info.
!DHEDGE
I think having weekly stats would help increase the visibility of the dhedge project. And DVS is a promising project to be handled by just one person due to the reason you stated above - overwhelmed or busy.
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