We’ve been trying to reach out to Hive witnesses and big stakeholders to let them know why pHBD is so important and why they should consider adding liquidity.

Some of them think that the internal market is good enough to onboard DeFi whales. I can tell you 3 major reasons why that’s not true:

1. The internal market UI/UX is awful. This was built by Steemit and it simply is a horrible experience. The order book is backwards and there isn’t good liquidity. Yes, the stabilizer sells HBD daily at a fixed price, but there is no indication of that
2. As you said - many DeFi whales are accustomed to Automated Market Makers and they aren’t going to use the old “order book” system to buy HBD
3. Offramp liquidity is just as important as on-ramp liquidity. It’s great that people can buy HBD if they want it, but can they easily sell? With a stable coin, it’s extremely important to be able to liquidate your positions or parts of it when you need liquidity

Posted Using LeoFinance ^Beta