Do u have any thoughts on putting a proposal out to use 1M usd of the dhf to buy btc and then put it into a multi sig account that guarantees a 1:1 conversion to HBD on hive internal market thus partial backing HBD with btc? Bitcoiners would likely start to see hive as a btc side chain at that point. Especially if we had a way to tip content on hive with lightening (which is basically already ready with BoL’s V4V system)
I'd support this with a lower exchange rate, essentially a backup, maybe 0.98 or so. This would also have the advantage of avoiding depleting the BTC backstop quickly. Right at 1:1, a lot of BTC might get redeemed. At 0.98 , it won't unless there is real stress on HIVE/HBD.
In the event that the BTC does get redeemed, this accrues a small profit to DHF, which always values and can exchange between HIVE/HBD at 1.00
Yes. Nice!! Also, assuming that the hive holders already have the btc they want, anyone else looking to empty such a btc pool would likely have already have had to buy hive off the open market to convert to HBD, likely pushing the market cap of hive up already.
The exchange rate should be set low enough to discourage someone using that peg for large orders and draining the pool, when they can get a slightly better usd btc rate somewhere else
Someone mentioned the APY on UST is going down. Not sure if that is true but it makes sense considering the number of tokens out there and how they structured things.
Do u have any thoughts on putting a proposal out to use 1M usd of the dhf to buy btc and then put it into a multi sig account that guarantees a 1:1 conversion to HBD on hive internal market thus partial backing HBD with btc? Bitcoiners would likely start to see hive as a btc side chain at that point. Especially if we had a way to tip content on hive with lightening (which is basically already ready with BoL’s V4V system)
I'd support this with a lower exchange rate, essentially a backup, maybe 0.98 or so. This would also have the advantage of avoiding depleting the BTC backstop quickly. Right at 1:1, a lot of BTC might get redeemed. At 0.98 , it won't unless there is real stress on HIVE/HBD.
In the event that the BTC does get redeemed, this accrues a small profit to DHF, which always values and can exchange between HIVE/HBD at 1.00
Yes. Nice!! Also, assuming that the hive holders already have the btc they want, anyone else looking to empty such a btc pool would likely have already have had to buy hive off the open market to convert to HBD, likely pushing the market cap of hive up already.
The exchange rate should be set low enough to discourage someone using that peg for large orders and draining the pool, when they can get a slightly better usd btc rate somewhere else
Great idea, I would definitely support it.
Someone mentioned the APY on UST is going down. Not sure if that is true but it makes sense considering the number of tokens out there and how they structured things.
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