RE: HBD - USDC Pool is coming! Prepare to get rich, steadily...
(Edited)
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I believe this could be a downside in the long run. But if you look at LUNA/UST it pumped the price as more liquidity wanted to benefit from this stablecoin.
But I do agree that Hiveans could sell Hive to buy HBD in order to benefit from these yields. Also, in the event that HBD dePEGs strongly; we could see a lot of conversion of HBD into liquid HIVE therefore increasing supply.
I read somewhere that current HBD MktCap is close to 5% of HIVE Total Market cap, so at the moment, clearly not a systemic risk.
The +10% would come from CUB/Polycub or LEO rewards so HBD would still only print at 20%APR.
cc @chekohler.
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That is true but Hives market cap is held up by a razor thin buy wall, its not even a few million UST in dumping and it drives that price down to $0.10, so the systemic risk remains regardless of how far below the ratio HBD is
Fair point. But also maybe some of the investors buying into this HBD story might also holds Hive if they believe in the story? Who knows. Not too worried yet.
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If it's just the peeps here who use it, sure they're pretty price-insensitive, what I am thinking is if you're trying to use the 20% to attract large traders as UST and anchor are you'll bring with it people who are looking for a quick clip of the premium and don't care, we've seen so many DEFI pools turned into carcuses because of that