The Ninja Mined HIVE in the DHF Converting to HBD Slower Than Initialy Projected
The chart bellow is the HIVE balance in the DHF in the period 2016 - 2030.
The vertical line is where we are now.
When the Hive fork happen back in March 2020, initially 83M HIVE were transfered in the DHF. Later in October 2020 with another fork these funds were put in slow conversion to HBD at a rate of 0.05% per day. This to avoid market volatility.The initial plan was these conversions to end in five year, or somewhere in October 2025.
As we can see from the chart the conversion will not end in 2025 and will continue for a longer period. Even in 2030, there will be around 12M HIVE still left in the DHF. This is due to how conversions work, as a percent from the HIVE balance. As the HIVE balance shrinks, so the daily amount of conversions as well. For example we started at 41k daily HIVE converted, and now we are around 24k. If not interrupted with another fork, these conversions in theory can run endlessly.
As things stand, I guess we can leave them run untill 2030, and then convert them all to HBD at the price at that moment, as the balance will not be as big then.
Sounds like a really great way to gradually pace it and create more security for the chain into the future, actually.
So, if the conversion happening at a fixed rate of 0.05%, what you mean as Hive conversion adjusts to balance left in DHF. So the conversation rate is dynamic is it, it changes according to Hive balance in dhf?
This is actually one of the few helpful graphs on chain. Thank you for investigating.
@tipu curate
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