RE: Splinterlands DAO - 500k HBD purchase proposal not passing
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I always assumed BHBD and HBD were 1:1 ratio, so this is news to me. I'd like to hear the reasons behind this
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I think I saw Khal say somewhere that he will address it.
Matt wrote the comment above before going on the Leo AMA on Tuesday and Khal spent a few minutes talking about this:
1- We are waiting on a new bridge version that will be deployed over the next 2-4 weeks.
2- until then HBD is being unraveled and staked into the bridge oracle.
Once the dev releases the new version of the bridge, the oracle will have 100% of the HBD backing bHBD on-chain. Yaba then asked "wen" and we said it is in the final stages and could be in the next few weeks before August. We are pushing the devs to deploy asap, but you know how development works.
New version will have better security and autonomous replaying (that actually works). For various reasons including double spends, that's why majority of HBD is either staked or off-chain atm.