The Hive DAO has over 78 million coins locked up which cannot be powered up. If we take out the coins out of the equation we get what I call the available supply.
The percentage of vested hive relative to the available supply is ~47%. Now, the size of the DAO does play a role in the amount of coins that are minted since it is accounted for on the virtual supply so it does influence the market dinamics of the network although indirectly.
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https://peakd.com/@hive.fund/wallet
It is getting slowly converted into the dev fund after what? 5 years?
1.3M Hive a month getting dumped. Pretty significant.
Wasn't it like 83M when we started? Already shaved off 5 mill.
Those hive are not being dumped they are utomatically converted to HBD. Only 1% of the balance in that account is available to payout proposals so we are looking at 400 hive (in the form of HBD) added to the daily budget.
The point is that in all practical terms those funds are out of reach from the market. If anything the immediate effect of the DAO is that it reduces the total supply of hive by 40k per day.
I don't see it that way. Those funds could just as easily been powered up, and they were when Steemit Inc was in control of them.
I am trying to make the argument that Hive having low powerup dominance is bullish because we have a lot of runway to increase that dominance and choke the supply. It is being implied in this thread that actually our dominance is higher than that and we have less runway than I originally forecasted because of this locked up stake.
In reality, the opposite is true. This locked up stake gives even more incentive for users to power up their coins, because this locked stake is generating inflation and giving control of that inflation to the people that are powering up.
So even if my original numbers are off, the reasons to power up are even more pronounced.
Yield farming on Hive is back in a big way.
I totally agree with that.