RE: Hive Backed Dollar (HBD) Is Becoming A Stablecoin
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Fun fact: Dai was suppose to be done via a float mechanism to keep it purely decentralized so Dai would range from like 0.98-1.02.
However in order to appeal and grow more fast, DAI gave up the float and thus became more centralized pegs.
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Interesting trade-off. Sad they went that direction although hard to argue with the adoption of DAI.
With HBD we can take the slow, steady approach. We simply need to start developing some use cases.
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Before we had the DHF there pretty much was no use for HBD beyond speculation. The DHF doesn't need HBD to function, DHF could just payout in Hive instead.
There's really no use case for HBD as you can already use DAI for almost 0 fees by using sidechains, and when Ethereum starts rolling out all the huge updates they are doing to turn into POS there will be virtually no fees on layer 1.
I agree 100% I never understood why most don’t see this:
I don't really know either, could just be it was a "given" that we needed it. We also don't need the internal Hive/HBD market either, the only reason that exists is that we need to trade HBD against it to balance it to be stable.
Idk.
Nothing is purely decentralized, especially most cryptocurrencies.
Exactly!