Man this is incredible to watch take place. When I first joined Hive back in mid-2020, I did not believe $HIVE would ever be deflationary, since, back then, there just wasn't the demand to push up the supply of $HBD, even with an 8% APR. Now that the APR is 20%, and no other cryptocurrency "stablecoin" comes close to providing such a yield, you would think that fixed income hunters would flock to Hive because of this.
Hypothetically, if someone demanded 1M $HBD in a single month, could we witness an explosion in the price of $HIVE? What would be the effect on the USD-denominated price of $HBD? Would that also go up and then force buybacks by the Hive DAO?
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