As an active member of our blockchain ecosystem, I am writing to address a crucial aspect of Hive's financial infrastructure.
The HBD Stabilizer.
The project was initiated by our esteemed Hive witness and developer Hive account@smooth. It plays a pivotal role in maintaining the Hive Backed Dollars (HBD) price stability and serves as a significant mechanism in ensuring the stability of our blockchain's economy.
By mitigating the HBD price volatility, this initiative has contributed to the financial health and robustness of the Hive network. You can read the details provided in Hive account@smooth's post for more insights into the project's objectives and achievements ([1][2][3]).
Current Situation and Required Action
The current proposal (#308 - May-2024) is set to expire tomorrow!
Therefore, I find it imperative to take proactive steps to uphold the integrity and functionality of this vital service.
Despite my attempt to contact Hive account@smooth for confirmation on a new proposal, I have not received any updates. However, the good news is that the Hive account@hbdstabilizer bot continues to operate seamlessly, which indicates the service should not experience any abrupt halts.
To ensure that this essential service continues to do its job, I am submitting this proposal identical to the existing one. For consistency and efficiency, it will ask for the same amount and the funds received will be transferred from the DHF to the same beneficiary.
The Hive account@hbdstabilizer bot should continue to do its job with the funds it receives. It goes without saying that it will require careful monitoring. If there should be a problem, it is possible at any time to deactivate the proposal to avoid funds being "at risk".
The proposal is planned to run for 2 months, providing us with a buffer period to ensure stability and to anticipate what will need to be done in the future.
Next Steps
It would also be important to think about decentralization or integration into the blockchain code of this service so that its long-term functioning does not depend on the goodwill and vigilance of one or two people.
In the unlikely event that the Hive account@hbdstabilizer bot ceases operations, I could consider developing a similar bot to take over its functions. However, this contingency plan will be initiated only if there are no updates from Hive account@smooth in the coming days.
Community Call to Action
Your support and participation are crucial in ensuring the continuity of this service. I urge all members of the community to vote for this proposal at their earliest convenience. Your vote will play an integral part in maintaining the financial stability of our blockchain.
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