HBD savings rate drops to 19% Was Hive Hacked or did an intern jump the gun?

Hello Hello Hivians

For the observant amongst us this morning it seems that the Hive Backed Dollar (HBD) savings interest dropped from 20% to 19% ...

I do say seemed for a reason ...

Just to doublecheck I went to the Witnesses page on my PeakD account and saw that ...

... yes indeed the APR had been changed to 19%.

No real shock tho

The fact that it has dropped to 19% APR should not come as a shock to anyone after all the furore about dropping it last year. We all knew it was coming. Indeed I also half expect the reward pool to be eliminated or replaced by something...

But the shock is more a case of .. Was this intentional?

It went back to 20%

Yes you read it that right!

Not long after it was visible at 19% it then went back to 20%.

Infact, at the time of writing this post (10.45am UK time) it is back at 20%...

So what is happening? 20% or 19%?

In a scene reminiscent of the recent SEC spot Bitcoin ETF tweet fiasco, was Hive hacked or did an intern just get a bit too excited and jump the gun or in this case update pages to reflect the 19% before an official announcement?

Do rate changes get announced?

I am not an oldtimer on Hive, if I remember rightly the rate was 12% when I joined and was increased to 20% not long after, so I cannot remember if there was an official announcement.

Is that the Chief of Witness's job so to speak?
Would that fall to ...

@arcange being that he is the number 1 witness in terms of votes received...

Would you look at that, now it is 10.51am and we are back to 19% ...

What is going on Witnesses???

Is it 19 or is 20 or is going to be 12 % APR again soon?
Actually it does get confusing when you look at the witness page, click on the APR 19 (or 20) you get this mouse over message 👇

If that really is the case, how can it be 20% and I doubt very much that the median would land exactly on 19.00%

How do you get witness feedback?
I must admit I like the monthly report that @quochuy posts.

As luck would have it today was the monthly post ...
Witness Earnings Monthly Report - January 2024 he also explains what a witness does.

So, shall we see what he says about HBD ...

HBD savings interests rate. The current APR as voted by the witnesses is 20%

Confused?

Yes I am 🤣

Moral of the Story

No real moral as such, but it does go to show just how fast confusion and doubt can spread at the sight of misinformation!

Whilst we are talking about witnesses, I would urge people to make use of their vote.

You have 30 votes, do you really want to vote for witnesses advocating a 7 yes you read that right 7% APR...

That by the way is a top 20 witness! not to mention 12% and 15% that are in the top 20.

PS I meant to post this in the Hive Governance community (which I never knew existed, there is always a silver lining right...) because they list an example post type 👇

Questions about hive governance