SEED Update: Switching into aggressive mode

SEED Update: Switching into aggressive mode | Ecency

In late November we made an ATH after another and I suggested to 'calm down for a bit', the reason for what I decided to focus solely on purchasing stablecoins (specially HBD) while things cooled off for a bit.

Today, 3 full months after, I've decided to switch to a bit more aggressive mode of managing the portfolio and I'm getting ready to free up ALL of our HBD.

Currently, I'm waiting for the 3,5 days of wait to pull them out of Savings but probably after that I'll have to wait an additional ~3 days more to convert them into HIVE ( since I don't expect the required liquidity for 30K HBD anywhere).

Few reasons!

HBD is still a very inefficient stablecoin: 3 days of lockup to enjoy a 12% APR and ~3,5 more days to exchange it for HIVE at a fair rate ( If HIVE doesn't make any crazy thing in those days). 6 full days are too much time and it's not competitive when you're trying to buy a dip. I prefer to treat those funds as locked and don't depend on them. WOn't complain, but I feel HBD needs to step up its game in orders of magnitude if we ever want to be treated seriously.

Ps. As a Witness, I'm advocating for a 15% APR (a ~3% increase) in order to stimulate HBD printing (If it ever gets approved I'll raise it to ~18% and over & over). Something which I truly believe HIVE needs as a network. In my humble opinion HBD will be our 'killer app' and we should encourage its adoption (not overcomplicating it).

The market showed signs of bottoming out for a few weeks and, although today we're dumping there are a few good buying opportunities which I would take profit ASAP.
With the last ''deppegging announcement '' from 15 days ago, it's been possible to sell decent amounts of SEED for 3$ (even 4$ sometimes!). Since the selling pressure is nonexistent I understand everyone is happy with the current direction and how overall SEED is performing. So... expect volatility ahead!

But empo, what are you going to do with those funds?

I can think of 3 things very quickly (in order of priority);

Guarantee liquidity available for presales. Oh dear. This has been a pain point forever. We can't take more positions if every other week were starving for liquidity to keep participating for upcoming presales. It's been relatively quiet the last 3 months, but hey, April comes and DAO Maker asks me for 8500$. WTF. They think we print money or something.

Polycub saved our ass the last time, and we still have 9000$ available approx... but will not last long if we have to deal with a couple of big random pre-sales (improbable, but possible).

Get a bigger position in ORN-USDT. Orion has been one of my favourite projects from a long time and I believe they will deliver (they're already!) amazing tech that will vastly improve the Defi sector. A x10 is my moderate target, but my bullishness is not enough reason to go all-in into that project. For every 1$ used to buy ORN, another 1$ will be used to buy USDT and I'll be pairing them into a Pool for a juicy +35% APR.

Who said we can't enjoy the stability of stables, the pumpamentals of good projects and still enjoy a wife-changing APR of +35% APR? ORN-USDT LP's for the win.

BUY HIVE!

Don't get me wrong. I'm not going to exit a ~6 days-illiquid but a stable asset to enter (fully) into another with ~3 months of illiquidity + the volatility factor.

However, keeping HBD was a 'proof of good faith' towards all the SEED participants since it was a clear way of sending a message to all of you: '' Look, SEED is partially backed, your funds are there and you can request them on demand ''. This hasn't changed, but I believe it's a MUST to do a bit of DCA from time to time on HIVE. I owe a lot to this chain and this project as a whole is the first example.