The HBD APR was recently reduced to 15% from 20%, which had been maintained for well voer a year. This change coincidentally occurred a couple of months after I started implementing HBD rewards for the Mental Health Ambassador team. Unfortunately, this means that their monthly rewards, while still collecting interest, will be cut down rather sharply and noticeably.
Purportedly, the APR was reduced as a means of decreasing the amount of HBD being spent. However, I ask: if this HBD a worse use of money than that spent from the DHF on multiple proposals? One is particular brings a very negative effect on the Hive ecosystem, and drains a great deal of HBD out of the system prior to even accounting for the losses of potential new investors.
Even though I was not personally using HBD, seeing this reduction makes Hive appear less competitive as a form of stablecoin earning. We weren’t exactly in danger – even at our current low prices, our debt is less than 10%. Check out the HBDStats website, created by @dalz, to see where our cutoff would actually take place. We can see that there was no practical reason, at this time, to change the APR.
If our witnesses truly wanted to make cuts, looking at wasteful spending in the DHF would have been a more fruitful starting point, rather than affecting the earnings of many thousands of its users.
As stakeholders, most of us probably feel small. However, a hundred thousand users who each have 100 HP can combine to have a vote nearly as strong as our most powerful users. We can use our collective stake to vote for witnesses who not only vote for a 20% APR, but also in the best interest in Hive’s growth, rather than manipulating the ecosystem to fit their own particular standards. The more freedom we have, the more people we can attract.
It’s up to us to investigate the witnesses for whom we have voted, or proxy voted, and vote for those who will actually help us grow as an ecosystem, and grow as HBD holders!
Conclusion
The HBD APR cut affects many of us who want to invest into the ecosystem. Let’s collectively use our stake to vote for witnesses who have our best interests at heart.
What are your thoughts on this reduction?
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