Hey Blurt Team ?
Is there anyway that Blurt could offer 25% APY in Blurt Savings ? It could be a good way to take some Blurt out of circulation, and boost the price… have it paid the same way the 2.22% is currently paid in Blurt Power … daily ???
The 20% APY on HBD savings is very successful on Hive.blog … but it might be coming to an end ….
I think a high Savings Interest APY would be a good incentive to long term Blurt Savers / Investors.
Maybe even 5-10 % ???? Something to encourage Saving rather than selling.
Only 11 out of the top 20 witnesses are still at 20%. With just 2 or 3 more dropping down, the 20% mark on HBD savings will be history. It was essentially a promotional stunt to compete with certain DeFi offerings, which is unsustainable in the long run and detrimental to the growth and appeal of the HIVE token. HBD savings appears to be moving towards the 12-15% range, which is much more reasonable.
Having a 25% APY on BLURT savings, in my opinion, would only have negative effects.
This would incentivize BLURT holders to lock their funds in savings rather than using them to reward bloggers, which goes against the primary goal of the Blurt blockchain, which is to reward 'Proof of Brain' (quality content).
It would divert the attention of users and investors away from the blockchain's primary function of rewarding content creators and towards simply holding BLURT, potentially turning it into nothing more than a Ponzi scheme. If it were to survive, considering its low trading volume and the fact that rewards would represent a high percentage of circulating BLURT, it would likely lead to rapid devaluation, unless you possess a magical solution to fund these 25%.
It is essential that the financial incentives on a blockchain are designed to support the project's goals and vision. High APY rates can sometimes divert users' focus from these core objectives and create distortions in the blockchain's economy.
Very good points … how about 10% then ? Or 5% ?
This is a question that needs to be studied carefully, so as not to take away either the curation reward or what the support for a curation group via delegation can offer. Last week, when I studied APY via delegation for BeBlurt (which isn't the most optimized since it's manual curation), I came up with 7.2% APY (for 85% outpayment), so I think that between 7 and 10% could perhaps be considered, to remain attractive without having a negative impact on other possibilities, but this requires a little more thought.
The best Interest rate you can earn at the moment here in Canada …. With a Guaranteed Investment Certificate … GIC is about 6% …. Locked in for 1 year. So anything over 6 % would be amazing. 30 year Mortgages are now at 8% … so if you own a house and pay a mortgage then 9% interest would also be very attractive to anyone looking to get ahead …. Inflation is another matter. It seems to be ranging between 4% - 200 % by some calculations. Have you bought any Fruit or vegetables lately ????
It's an idea worth exploring imo! It might have a different impact than HBD I suppose?!
I’m Not sure how it would be funded but I’m also not sure how the current 2.22 % APR on Blurt Power is funded …I guess the same way ?
Maybe even 5-10 % ???? Something to encourage Saving
25%?! Thats cool!!
I have a question. Where can we trade Blurt?! Is there anything like Hive-Engine?!
Yeah… I trade on Ionomy.com and Hive-engine
Ionomy: https://exchange.ionomy.com/en/markets/btc-blurt
Hive-Engine : https://hive-engine.com/trade/SWAP.BLURT
That will be great, and it will encourage saving culture rather than selling it
I think so. Maybe even 5-10 % ???? Something to encourage Saving
Yes, that will help the price of the token. I totally agree with this your opinion.
We can earn 6% on a 1 year Guaranteed Investment Certificate (GIC) at a regular Bank here in Canada. So anything over 6% would be good.
It's very mind bending. I feel like paying a return like that would create a lot of inflation. The HIVE Dollar scenario is perplexing to say the least because it is a debt against HIVE and a small percentage compared to the market cap of HIVE.
Maybe it’s a limited time offer. A Certificate of deposit …. Lock in 100,000 Blurt Savings at 1 year to get 25% …create some saving pressure. There should be a way to limit the inflation.
I don't know if it's possible, but if it happens; it would be great!
Maybe even 5-10 % ???? Something to encourage Saving
verry goods idea sir
Maybe even 5-10 % ???? Something to encourage Saving
yeah. bro. verry goods idea 😀
We need to figure out the best way for Blurt bloggers to become savers and Investors rather than sellers and traders …. More options are better. Create good value for holding Blurt and the price will go up.
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