I generally try to avoid airing opinions on subjects I feel I am unfamiliar with.
And politics... well, I suppose an important part of wanting the best in a space like Hive inherently involves getting involved in politics.
I find the dynamics that are generated very interesting, but there are also days when I hate it as much as the next guy.
I think it is necessary to deal with both issues in the same post, as I believe they are closely related.
Let's get down to it.
Decentralized Hive Fund (aka DHF)
For months now I have had the feeling that as a community we are misusing the funds associated with the DHF.
I don't want to go into detail and start naming names, because I repeat, I don't have the technical knowledge to assess 100% to what extent something is ''worthy or not'' of being funded by the DHF.
But seriously... can't we try to do better?
in many proposals I see some or all of the same patterns repeated, which can be quickly summarized like that.
- Lack of clarity on what the funds are being spent on (with little or directly NO accounting).
- Little or no interaction and/or follow-up by the operator.
- No end date.
I don't know what the rest of you think, but in my opinion a proposal should be valid only if:
It has a ''business proposition'' format. With a beginning and an end, a realistic estimate of costs and the potential/expected profit.
This is kind of obvious, but I think that if a project is funded for x amount of time. At the end of this time it must or should be self-sustainable.
Unless we are talking about a product that greatly improves the quality of life in the chain. In that case I think you should be very punctilious and make a price breakdown to know precisely how much it costs to MAINTAIN that.
- The code should be open source for all of us to use (that's why we paid for it, right?). If this is not the case for xyz reason, there should be a decentralisation roadmap.
In my opinion a person/project receiving funds MUST have a certain degree of involvement in Hive. And yes, that also means owning HIVE.
Certain recipients of DHF funds have 'only' a few thousands worth of HIVE in their account after YEARS of receiving hundreds of dollars worth of HIVE/HBD daily.
And yes, I agree that if you are paid for a job you are free to do what you want with your salary.
But understand me where there is a conflict of interest if you are ''representing'' HIVE at conferences or if you have been developing an application/product in Hive for years and have literally NOTHING to show for it.
Do you care that much about Hive? Fine. Show me your wallet and your involvement. Otherwise I won't trust your word.
In other words. SKIN IN THE GAME.
Proposals should be for maintaining applications and their associated infrastructure. Not to sustain a certain pace of life for a certain number of people.
I don't think I'm saying anything out of the ordinary. I think it's very logical.
HBD APR
For 2-3 years we have been paying 20% on a sustained basis and are now looking at reducing to 15% or less.
I think the idea behind it is great (reduce the burden cost for the chain). But the underlying justification we are giving it is not. This is also where the DHF comes in.
According to the latest data available to me, there are currently 7.7M HBDs in savings.
At 20% APR, we would be talking about ~1,5M HBD/year in added inflation.
At 15% APR, we would be talking about ~1,1M HBD/year in added inflation.
Currently the DHF is paying around ~4K HBD daily or ~1,4M HBD/year (WITHOUT counting valueplan!)
Can you see the problem there?
Or we have 2 (Both DHF and HBD APR are paying far too much and we should cut our burden).
Or we have 0 (We're fine as we are).
But if we are ''fine'', then in my opinion HBD's APR should not be lowered.
If this is the case, we are, I am sorry to say, cheating ourselves by playing solitaire.
I don't like to tag massively, so I won't do it.
but I would like if some users with stake could share their insights and have a healthy discussion about this matter.
I'm being overly dramatic? I'm right? I'm wrong? Dunno.
Only thing I 100% know.
If you're a Hive user, please use your power and participate in governance.
Ah, and vote for my witness @empo.witness. (Still signaling 20%).
Have a great weekend everyone.
