I think that with the implimentation of HBD, this caused the start of Hive becoming very centralised and you can see this in the way that certain people have taken up jobs with an "income" for doing them. Over time, with the tokenomics of HBD, this has skewed things even more. The only way to rectify this would be to burn the DHF and reduce the HBD interest back to 3% or abandon the token altogether.
Quite often I see the DHF being referred to as belonging to the community, this could not be more further from the truth.
I agree with your take as well. HBD changed the system completely and those interest rates are just way too high!
The tokenomics of HBD are some of the worst I have seen on any chain.
The problem is that most people here don't really understand how the system works. HBD is a problem that will have to be dealt with. Cutting the interest to 15 was something, but it needs to be much, much lower...
This is one measure, the other is the size of HBD now is over half the market cap and whether Hive can financially support the peg too? I don't think it can...
This problem is mostly because Hive goes through a 3-year bear market and 1-year bull market, at most. Maybe even more skewed toward bear market. And during that time, a higher amount of HIVE is needed to keep HBD at peg.
Hive is an old token now, we didn't have any meaningful cycle this time so far..
I agree that the interest of HBD should be further reduced. For me, 10% is still very good, as you know it's a pure incentivization and I don't blame those who want to be here for the interest alone. Most people in crypto just want to make profit.
Although I think the DHF is the bigger issue, and that's probably where most of us agree.
Yes, the DHF expense is the largest monthly expense for Hive right now.
I understand it's probably very annoying to watch how nothing is being done about it.
Not really, that's why we stack sats.