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Okay, but "buying at 97 cents" means selling Hive after it just crashed 20%.
That isn't buying low; it's selling high.
So the bot needs access to another stable-coin like USDT that has a better peg.
So the bot needs to be able to:
- see the opportunity
- sell USDT reserves into Hive
- transfer the Hive on-chain
- sell the Hive into HBD
- be able to do the opposite when the peg is higher than $1
- or at least trade back into USDT when the $1 peg is returned
This is a lot of steps and requires API access to the exchange holding the USDT.
Many things can go wrong.
RE: A Look at the Hive Debt | Data On HIVE/HBD Supply, Historical Debt, HBD Performance | Apr 2024