Luna stablecoin 0,94$
I don't want to say I told you so.
But it happens. For all that want to leverage HBD, look at luna.
The chain will 100% break after this run.
We can be happy hive is slow otherwise hive would be dead in bear market.
Now we can learn from luna.
Bitcoin to stabilize the algo coin? Laughable!!!
Luna dies, Hive surrives. Very good!
Fuck the price, the chain will stay. If we would have Billions of HBD it would be a suicide mission.
@smooth now we should look very closely what happens to TerraUSD, I think this is billion-dollar know-how.
I also think with that + additional mechanics HBD can become really stable, even on scale.
But not with the magic luna scam trick. Print and pump.
Side note, I would bet if whales start panicking ( if Kwon can stabilize with bitcoin or whatever) Trust will go away with the potential to rug bitcoin to 10k. And I don't even know what it would trigger at some important price areas.
To everyone, be careful. It's not only crypto, all markets start to fuck.
Billion dollar funding does not necessarily translate into billion dollar know-how. We'll see what happens there.
See counterexample here https://hive.blog/hive-167922/@smooth/raj509
BTW, I think Terra has vaguely similar stupidity which Hive does better, such as instant conversions, and a less clear haircut mechanism.
We should still learn what we can of course.
uh, I fully agree.
The know-how comes more from the breaking point and not the mechanic. We can see live where the points are.
Billion Dollar know-how comes into place to prevent such catalyst points to build scaleable mechanics that come into place.
100% agree and i would bet there was no 1 billion dollar funding, even less to start the ponzi cycle.
The interesting part IMO comes what will be the point ( -20%?) investors sellout no matter what.
Could insurance with another stablecoin ( depending on volume) help to stabilize and so on, where to trigger?
If insurance big enough, trust would be big enough?
This is the Billion dollar know-how for a working algo coin.
Real market data is much more valuable as theory. I think we all knew terra is a ponzi :D
Edit: Also to increase slightly print mechanic.
Btw another idea for an insurance mechanic that doesn't affect inflation that hard.
if hive 1$, HBD will always be convertible to hive.
From range 1$ to 0,20$. At 0,2 insurance trigger and is only tradeable to another stablecoin.
I dont did the math. Not for lower or higher numbers.
But the idea is to limit inflation in a worst case + provide security.
There are some other parameter like total HBD + hive MC. but that could work with more thinking about.
Like a 20% rule. So there would be no reason for a super panic sell.
Maybe with some other mechanics. Luna will give insights i think
Edit 2:
Another idea what if hive would build a DAI version + HBD + Mechanics.
And thinks secure each other. I also did no math here.
A Collateral version to peg could open more ways to stabilize.
I look at pools where the overpays happen for other coins. This is the magical insight we need.
yup. Time is king.
I guess the LUNA conversion and prices tanking couldn't stop the peg from breaking. Now I wonder if those reserve assets will be sold to bring the peg back up.
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