We saw the Upbit move again. This time it was HBD that was sent flying. While some were able to make money, the question is what is the impact, if any?
In this video I discuss this along with what it all means. Like always, it is best to step back and look at things.
▶️ 3Speak
I agree that this is 100% a liquidity problem and we need to focus on long term sustainability/stability, upgrade our infrastructure, and increase our liquidity to the maximum.
This is exactly why I fervently oppose things like allocating 20% yield to timelocked HBD when we could be allocating yield to an AMM farm and actually increase our liquidity exponentially rather that removing HBD from circulation. I also question if bonds would do the same thing (reward users for removing liquidity from circulation).
You've been a proponent of bonds and savings account yield for a while now, and I'm still trying to figure out how that can be the case after making a post like this where it becomes clear as day that we need to add liquidity to the ecosystem rather than subtract it. I guess there's no reason we can't have it all (AMM + bonds + timelock yields) but still... an event like this really shines a light on the need for an upgrade of the internal market to AMM. HBD will never be stable without the necessary elastic liquidity to maneuver around supply and demand constraints.
Overall I'd say this stress test was actually a vast improvement compared to previous ones we've seen. The stabilizer has more liquidity than it's ever had before, and the price of HBD was brought down faster than it ever has before as well. Still, I think we can do much better going forward.
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Makes perfect sense. To combine yield and liquidity, an AMM is the best solution invented so far.
The pump affected HIVE, too, but I can't say I'm happy about the whole thing. It's a good thing it seems to be passing quickly.
I really like the Idea of all three options and wonder where that is all being built? Also wondering how long we can look at 20%return on HBD? How long is the foreseeable future on that one?
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BEER.Great for those who have lots of HBD. If I have that chance, I would buy HIVE with HBD and then will buy back HBD again after the pump.
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For my part, since I did not have #HBD in liquidity, I could not carry out any business, so for now it is better to see the bulls behind the barrier and wait to see what the future holds
After looking at the price go back to the peg, it just looks like a short-lived pump but it did increase the price of Hive. Sometimes it just hurts if you don't have the funds liquid and I have seen a few people mention about pulling HBD out of savings.
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