RE: DAO Deposits Stable Coin to HBD Savings, using Interest to buy & burn DEC daily
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First of, I appreciate the initial idea!
My main concerns about this proposal is the required work involved to do the trades. When I heard about the idea that a DAO representative should do this, I've got this weird feeling of centralisation. If it would be a one-time thing, I guess it wouldn't be a big issue, but since the liquidity of HBD is already somewhat low and requires continues buying and the daily selling of HBD and buying of DEC requires that as well, there would def. need to be a script written. And then the question is: who does it and who reviews said script and who is running it?
Another issue I have is the amount of 250k, which is a big sum. I would feel more comfortable with something around 50k to 100k to start out.
I understand that the proposal system as it exists right now only allows for yes/no votes and as I said in the beginning, I appreciate the initial idea, but right now, I'm not confident about the current plan as it's published here.
It could be turned into a bot-like operation, for sure. We have much more complex tasks being done in an automated manner by various HIVE bots and market makers and other people. We have the tech.
I'm personally not fussed if it isn't 250k; but many members in the community think this proposal is "too cautious", or "wouldn't do enough" to "immediately" prop up the price of DEC.
My underlying goal with this proposal is to have a sustainable income for the DAO once DEC reaches peg, and in the intervening time period, an equal measure of DEC is removed from supply, and added to the treasury.
As I mentioned in the proposal, I'm not emotionally attached to it passing or failing, it is simply a concept, and if people want to tweak this further, should this one fail, then they are more than welcome to create their own proposal, and I'll likely support it. :)