RE: Is HBD Getting More Stable?
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It's not really better honestly instead of holding $1.30-$1.50 we now bounce around $0.90 to $1.10 same range lol
Even a fluctuation of $0.01 -$0.02 is too much for a "stable coin" I'm not really sure if its possible to make it stable in the way they are trying to do it with pegging it to be worth $1 of Hive. Just seems weird why we always try to do everything in our own unique way instead of using what is already working with other stable coins.
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The market is still too small. Like non liquid assets, there is major slippage. The same can apply here.
We need a lot more players and much more money to keep the peg tight. If not, we will see these fluctuations.
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The stable coins I'm guessing you are referring to (e.g. USDC and USDT) require you to trust their issuers.
We're designing one that requires less trust. Is this the only way to do that? No, we could have chosen other mechanisms. But this was the easiest tweak I could see to the existing code to stabilize the peg for HBD without requiring some external entity to promise to back it dollar-for-dollar.