The latest Hardfork has introduced interest on HBD but only if it is transferred in the savings account. The interest on the HBD was always an option as it is a parameter set by the witnesses. Witnesses have introduced interest before the HF but it was applied to all the HBD holders, including the exchanges.

With the latest changes, only HBD that is in the savings is receiving interest. The withdrawal from the savings account is three days, that is a reasonable period. It’s like staking with three days unlocking period.

When the interest on HBD was first set by the witnesses a few months back, it was only 3%. Now it is 7% with more witnesses setting it up to 10% or even 12%. You can see what the interest rate is set by the witnesses here https://peakd.com/me/witnesses.

At the moment of writing this there is different interest set by the top 20 witnesses. Half of them, or 10 witnesses have 7%, 6 have 10%, 3 have 12% and one have set interest of 5%. Not totally sure what is the final % under these conditions, but Peakd is showing 7%.

---

Now lets take a look at the data and see how much HBD has been transferred to savings and who is taking advantage of the HBD interest rate.

The period that we will be looking at is January 1st, 2021 to July 12, 2021 , with focus on the latest period after the Hardfork was introduced, July 30, 2021.

We will be looking at the following:

• Daily transfers to savings

• Monthly transfers to savings

• Top accounts that made the transfers

Daily HBD Transfers To Savings

Here is the chart for the daily HBD transfers to savings.

As we can see in the chart, prior to June 2021, transfers to savings were almost non existent with few spikes. Then in June prior to the hardfork HBD started to be transferred to the savings accounts. There was few big spikes with more than 100k moved in a day, and the trend continued in the first days of July.

The monthly chart looks like this.

Note that July is not over yet and the bar will be higher at the end of the month.

A total of 350k HBD was transferred to savings account in June and almost 400k in the first days of July, resulting in almost 800k HBD moved to savings since the hardfork. At this rate there will be one million in the savings accounts soon.

There is a total of 10M HBD supply at the moment, out of which 4.5M HBD in the dev fund, meaning 5.5M HBD in circulation. 3.7M HBD is in the exchanges wallet, that leave us with 1.8M HBD in users account. This means that 800k out of the 1.8M, or almost 50% of the HBD in users accounts was moved to savings in this short period.

I expect the trend to continue in the next months and more HBD to be moved to savings. Will update the data in the next period to see how things are going.

Top Accounts That Transferred HBD To Savings

Who has transferred the most funds to savings? Here is the chart.

The @mika account is dominant here with almost 600k HBD moved to savings. Next is @fullalt.dhf with 33k, and then @alpha. The numbers goes down fast and the no.15 on the list has around 2k HBD.

---

Overall quite an impressive start for the HBD savings with almost 1M HBD now in these accounts earing interest on HBD. These numbers are still relatively low compared to the big defi stablecoins farms, meaning that there is a lot of room for growth. HBD is more stable now, but still needs to prove itself. If in the next period HBD keeps it peg relatively close to the dollar it can grow even more. Off course the marketcap of HIVE in general needs to increase as there is a limit of HBD printing as 10% debt. If there is demand for HBD that will push the price of HIVE as well.

All the best @dalz

Posted Using LeoFinance ^Beta