HBD Interest Payouts For May 2022
Summer is here! Time flies! I think this summer is going to be amazing. It will be great to have Covid free summer at last. I know it is still around. There was a spike with this stealth variant in May, and all of the sudden many people who I interact with ended up catching covid. I even was in close contact with some who tested positive, but I didn't get it myself. Among the people who I know tested positive for covid, were those with underlying conditions who tried their best to avoid it. Unfortunately, they did get it just recently. Fortunately, it wasn't anything serious. From what I have heard their experiences weren't as bas as common cold.
Despite the stealth version is indeed operating in stealth mode, things seem to be going back to normal. No masks, no mandates, as if covid is almost gone and forgotten. Let that be true. Nobody needs any more of these variants. Summer is here. Sun is out everyday. It is green everywhere. Time to enjoy the outdoors. I wish you all the best summer. Have fun!
Today's topic is HBD and interest payments on this awesome algorithmic stablecoin. Algorithmic stablecoins was the main topic in the crypto world in May, due to UST and Terra Luna fiasco. The definitely wasn't fun month for those who were invested in UST and Luna. Regardless the financial interests, it was a big lesson for everyone. These events especially made Hive community to ruminate about our own stablecoin efforts. It was only a couple of months ago when Hive witnesses decided to increase the HBD APR to 20%. Partly, these actions were motivated by the success of UST and Luna in the past. Partly, because we believe we have a better algorithm for our stablecoin.
In any case, this made most of us to reevaluate our positions about the high APR, possible attack vectors, flaws in design, sustainability, etc. There were many discussions that presented how HBD is stronger stablecoin because of the protections in place to prevent events that lead to UST-Luna death spiral. Protection measures like conversion fee, haircut, ease of changing APR parameters, and more do make HBD a stronger contender in stablecoin space. But also it makes Hive a more resilient blockchain network.
What hasn't stopped impressing HBD enthusiasts is how it continues to keep its peg due to high volatility in crypto market. May was definitely a test if HBD would break its peg. It has been doing great. Surprisingly, many still have not discovered it yet. Bitcoin and all other coins dropping in price significantly, showed another great use case for HBD, that is to use it as a hedge. That's an easy decision to make. Stay in the sidelines, and keep earning 20%. Brilliant! But then again, need to make decisions when to buy some other coins with HBD when prices are so low.
It has been two months since APR has been raised to 20%. It is time to look at the HBD interest payments in May and what changed.
While we don't see massive interest in HBD, we do see a decent increase in total payments. Hive blockchain paid total of 66,025 HBD to 2,471 unique accounts. Total interest payments almost doubled. Number or payment recipients have increase a little bit as well. It doesn't seem like HBD and what if offers is being noticed yet from outside the Hive network. At least not yet. Maybe that is for better. More interest payments for us. :)
I would prefer slow growth anyway. We aren't in a hurry. Even if outsiders are not seeing this investment opportunity yet. It does look like folks within the community do love the stable APR. As you can see from the list below, there is a new player in HBD interest space. @mika as usual remains at the top of the list. But, look at @muenchen with almost 10k payment. @alpha is back in HBD action as well. Congrats!
Hive and HBD are long term investment opportunities. When all crypto prices are low, maybe most would prefer to take riskier investments, instead of low risk ones. It is great to have options and Hive does offer options.
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