RE: Could Hive Follow The Ethereum Model?

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I think one thing that should be considered is creating a stablecoin based on Collataralized Debt Positions like MakerDAO. That would allow passive investors to buy into HIVE and earn a return without messing with the Proof-of-Brain mechanism.

hive-167922
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That is very true. It is one of the reasons why I am interested to see what LeoFi will look like.

Leofinance announced that is coming the other day but was sketchy with the details.

It could have a profound impact on Hive if done properly.

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Very interesting! I definitely agree. LeoFinance is on fire!

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Yep, over collateralized loans are the way to go but I don't think we need another stablecoin - we already have HBD. Also someone would need to buy those stablecoins (take the loans) and pay the fees and I can't see the reason to do it.

Instead we could have a system where you deposit BTC/ETH and take the loan in HIVE. You could power-up this Hive and make a nice APR while still having your crypto. The Hive for loans could be provided by liquidity pools fueled by hive users that want to get passive income without need to power-up. It could also work the other way around - deposit Hive/HBD and take loan in BTC/ETH.

I wonder if anyone would actually use it :)

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Yep, over collateralized loans are the way to go but I don't think we need another stablecoin - we already have HBD.

HBD sucks as a stablecoin.

Also someone would need to buy those stablecoins (take the loans) and pay the fees and I can't see the reason to do it.

Anyone who wants to buy HIVE with a leverage. Suppose HIVE were used as collateral. You could use your HIVE as collateral and have the new stablecoins created. Then you could buy more HIVE with those stablecoins. When you're expecting a pump in the value of HIVE, it would make sense to do so. You could also trade those stablecoins for any crypto asset on the market.

Instead we could have a system where you deposit BTC/ETH and take the loan in HIVE. You could power-up this Hive and make a nice APR while still having your crypto.

That's another possibility. A good one, too, if you were going to do something useful with that HIVE. On the other hand, I'm not sure if any more passive auto-curation is needed.

The Hive for loans could be provided by liquidity pools fueled by hive users that want to get passive income without need to power-up. It could also work the other way around - deposit Hive/HBD and take loan in BTC/ETH.

That system couldn't work on the Hive blockchain alone. It would have to be a multi-chain app. MakerDAO takes any ERC-20 tokens as collateral but only those so it works on Ethereum and fully trustlessly.

I wonder if anyone would actually use it :)

DeFi seems all the rage now. $4 billion is locked in DeFi smart contracts on Ethereum. Hive would have lower fees.

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(Edited)

Just to be clear - you're writing about new products that would probably take 1 year+ to code on hive blockchain, I'm referring to apps/services that can be created today but sadly in a mostly centralized way.

Then you could buy more HIVE with those stablecoins.

So someone would need to sell his hive in exchange for this stablecoin. I imagine that holding those coins would yield you passive income, right? And the fees could be paid in Hive?

You could also trade those stablecoins for any crypto asset on the market.

Well, first this token would need to be listed on exchanges which is pretty optimistic :) I guess we would use hive engine for a start.

That system couldn't work on the Hive blockchain alone.

Well, we can have an automated script that monitors BTC/ETH deposits on provided wallets and issues hive engine pegged tokens. Something like what we already have on h-e but without the crazy 1% deposit/withdraw fee.

DeFi seems all the rage now. $4 billion is locked in DeFi smart contracts on Ethereum. Hive would have lower fees.

Of course, but Hive doesn't have smart contracts that would allow trustless loans. So back to the basic question, do we want to wait months for hive devs to even start working on it or do we try to build more centralized product and hope that someone will use it :D

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can't hive also somehow use smart-contracts?
we already have escrow built in (even though noone uses it)

So back to the basic question, do we want to wait months for hive devs to even start working on it or do we try to build more centralized product and hope that someone will use it :D

both :)

start centralized, if people use it and like, they automatically wanna go forward and decentralized -> ask/ demand for hive devs programming :)

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(Edited)

Just to be clear - you're writing about new products that would probably take 1 year+ to code on hive blockchain, I'm referring to apps/services that can be created today but sadly in a mostly centralized way.

I know.

"Then you could buy more HIVE with those stablecoins."

So someone would need to sell his hive in exchange for this stablecoin.

Yes.

I imagine that holding those coins would yield you passive income, right?

No. A stablecoin is a stablecoin. You hold a stablecoin because you want stability.

"You could also trade those stablecoins for any crypto asset on the market."

"Well, first this token would need to be listed on exchanges which is pretty optimistic :) I guess we would use hive engine for a start."

I don't think a new stablecoin on Hive would have to be listed on any external exchanges to be useful. Hive already has an internal exchange. But yes, it would be very convenient to have it listed on external exchanges. Also, its market cap would be boosted by having it listed on exchanges.

I don't think getting it listed would be outlandishly optimistic. Many exchanges that list HIVE list HBD already. Ditto for STEEM and SBD.

"That system couldn't work on the Hive blockchain alone."

Well, we can have an automated script that monitors BTC/ETH deposits on provided wallets and issues hive engine pegged tokens. Something like what we already have on h-e but without the crazy 1% deposit/withdraw fee.

The problem with that is that such an app would have to be centralized and not trustless. But sure, why not.

"DeFi seems all the rage now. $4 billion is locked in DeFi smart contracts on Ethereum. Hive would have lower fees."

Of course, but Hive doesn't have smart contracts that would allow trustless loans.

I know.

So back to the basic question, do we want to wait months for hive devs to even start working on it or do we try to build more centralized product and hope that someone will use it :D

I have nothing against that. :) Please go ahead if you find the idea worth implementing! A centralized product can be valuable as a proof of concept. The other way it would be valuable would be that the code could be made at least partly portable despite not being written in C++ like Hive blockchain code. At the very least, parts of the architecture could be reused.

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With the popularity of DeFi, I have a feeling it would be used.

It would all depend upon how well it was marketed. This idea might actually enable the ability to reach outside the ecosystem.

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