This is great for helping the SBD peg but I do have some concern about the fund getting too large as long as the disposition is undefined. I'd like to see some effort put into defining it so we know what we sort of long term outcome we are voting for (the short term effort, of course, is well defined).
Hi @smooth just saw your message. Sorry, can you rephrase that, are you saying you want the community to decide now what to do with the fund once it is no longer needed?
Well, no, not NOW as in right this minute, but something should be decided before the fund gets too large IMO, at which point it could become a very contentious "hot potato".
A simple solution would be to just donate it to DAO, at which point the stakeholders can decide what to do with it.
However, that requires some careful rules because donating to the DAO would turn it back into SBD and boost the ratio, which could undo what was accomplished up to that point (especially if the fund has become large). Probably need to wait until the ratio is low enough with some safety margin, and then donate.
"Hot Potato" - cool analogy, I would suggest we wait until the stockpiled DAO SBD does not form part of the debt ratio calculation and then commit to sending to the DAO, my commitment currently remains to take a community poll when it is no longer needed, at that time the market could need something else, SBD could be high and needed to flood the market to peg it back down as an example.
We don't really know, I reckon once there is 10 000 STEEM circa $1000 then we can have a discussion in comment on a dedicated post, maybe 1K USD is small, perhaps should be 10K USD before it becomes a concern, it's all subjective I guess.
It really do!
Sure is, should be at 1000 SBD before long, thanks for your contributions.
This is great for helping the SBD peg but I do have some concern about the fund getting too large as long as the disposition is undefined. I'd like to see some effort put into defining it so we know what we sort of long term outcome we are voting for (the short term effort, of course, is well defined).
Hi @smooth just saw your message. Sorry, can you rephrase that, are you saying you want the community to decide now what to do with the fund once it is no longer needed?
Well, no, not NOW as in right this minute, but something should be decided before the fund gets too large IMO, at which point it could become a very contentious "hot potato".
A simple solution would be to just donate it to DAO, at which point the stakeholders can decide what to do with it.
However, that requires some careful rules because donating to the DAO would turn it back into SBD and boost the ratio, which could undo what was accomplished up to that point (especially if the fund has become large). Probably need to wait until the ratio is low enough with some safety margin, and then donate.
"Hot Potato" - cool analogy, I would suggest we wait until the stockpiled DAO SBD does not form part of the debt ratio calculation and then commit to sending to the DAO, my commitment currently remains to take a community poll when it is no longer needed, at that time the market could need something else, SBD could be high and needed to flood the market to peg it back down as an example.
We don't really know, I reckon once there is 10 000 STEEM circa $1000 then we can have a discussion in comment on a dedicated post, maybe 1K USD is small, perhaps should be 10K USD before it becomes a concern, it's all subjective I guess.