TONS of other means to stabilize HBD
Please make a DAO proposal for alternative way and I will support if it’s a better solution for stabilising HBD with long term vision
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TONS of other means to stabilize HBD
Please make a DAO proposal for alternative way and I will support if it’s a better solution for stabilising HBD with long term vision
Posted Using LeoFinance Beta
I have a proposal written, lets dm.
Let's do this.
If you need any help before you publish the proposal the please let me know.
I wrote a comment in this thread but don't want to copy/paste spam it. Would love to see a critique of it :)
I don't know what the best solution is, but we were discussing a bunch on discord yesterday. One big (and easy thing) would be for witnesses to add the HE/BXT liquidity pool(s) for HBD to their price feed, instead of just taking in prices from external exchanges.
Let’s keep the discussions going my man. We can even ask Vitalik for suggestions because he always talks positively about Hive community.
Especially now that Justin Sun has left Tron/Steem/BitTorrent to now be an ambassador for Grenada(LOL).
Vitalik might like to talk about how Steem has been abandoned and ideas for Hive. Would be a great discussion if someone could get him to talk about it, put on the pressure!!!
@aggroed is probably the best person to start the Hive discussion with Vitalik.
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Well that seems like a great idea!
Seems like there are lots of possible angles to take for a pegged currency, many of which can be applied together, so it seems like the lowest impact, most systematic/algorithmic, most transparent approaches would be the best, to me at least.
@stayten brought up the lack of a HBD:DAI Liquidity Pool, and that got me pondering on those in general, and how good an LP can be at stabilizing prices. After asking more questions, and more discussion happening, the thought that I finally came to was:
At which point we realized nobody knew if the prices from LPs even affect any price feeds, so I went a-searching for those answers, to find:
So, it seems like getting CMC & CG to pull price info from the LPs would be huge, since then we have some actual power over that price, in-ecosystem.
Currently, the outside world's price for HBD is based purely on centralized exchanges.
I'm not sure how to check if witnesses are integrating the LP prices, without asking them all individually.
I'd be perfectly happy to include DEX prices in my feed if there is a simple API I can use to get those prices.
One thing to understand, though, is that the price feed is the price of HIVE, not HBD.
That's kind of what I thought, but not what I was getting in that Discord conversation.
So, the only thing we can really do on-chain (side-chain) is to get CMC/CG to take in the LP price?
If there isn't such a thing, it seems like something that would be great to have, eh @aggroed?
No, the price feed isn't tied to those sites. Some witnesses may use it, others don't. I don't, I get it directly from the exchanges.
Sorry, I meant that we could do on-chain, that would directly affect the price of HBD out in the rest of the world (like on CMC/CG, where people go to check prices & charts)
I smell DejaVu. Do you smell it, too?!
Seems like some inside joke, or at least inside information, that the rest of us aren't privy to; care to share?
Like I was telling you I remember something like this happening before. Pretty sure same thing has been happening for many years.