HBD interests - CUB governance in test
'I'm not a racist, but...'
Racists, homophobes, antisemists and the rest of their lot tend to say when they want to make a point.
I don't like prying into others' wallets, BUT let's talk about @bnb-hbd funds.
I'm sure you all remember that according to docs available on Cubdefi bHBD is backed 1:1 with HBD. Later on it turned out that it isn't exactly the truth, but the Leofinance team claimed it's only due to current bridge malfunction and funds needed to be put elsewhere until the bridge will be fully operational. It is an explanation ane I accept it.
I don't know when this will happen ,though.
The Leofinance team didn't just put away funds to lay around, they put some into savings and - this part is a wild guess - some went to @leo.bank to let the bridge stay operational.
This funds in savings create about 2k HBD per month.
Currently the entire value of burned CUB amounts to circa $37k.
What if this funds were put into burning CUB?
I want to stress out that these funds aren't entirely Leofinance's, because they also belong to people holding bHBD and as a one I think I have a say in this. Even if it's not true, I'm entitled to an opinion.
In this spirit, I want to suggest one of the following options:
- Use this interests to burn cub directly, or
- Use them to fuel MTB's arbitrage capital (which I think will permanently increase its ability to burn cub)
Maybe my post is utterly wrong because of my ill understanding how things actually work. I want to hear your opinion and hear your facts if mine aren't exact.
I still believe the CUB project has an important role in Hive ecosystem as it's proving a bridge between BSC and Hive. As for now, even an announcement would create a scent of project still in development. This scent is much needed since all we see is this ⬇️⬇️⬇️ (days since last burns)
Posted Using LeoFinance Alpha