# Finally! ![image.png](https://files.peakd.com/file/peakd-hive/cinderclaw.gld/23w2oQ1iNf19WRxNzr9JfJiZyeBftZy5CRjHAqb5zZybX4RhzmnqhmwsjWnY5tz3EpBtS.png)
Okay. For a long time now I have wanted GLD to have a solid backing and a peg people could count on. Originally it was set to 100 GLD = 1 Hive. Then as HIVE went up and down like a yo-yo I decided to change the backing to 100 GLD = 1 HBD. So. I keep enough HBD locked on the @tergan account to cover a redemption for every GLD that is minted. Not just those in the hands of users but every one actually in circulation. That did change "slightly" recently when $20 HBD was cashed out to cover a larger redemption by a major token holder but I'm working at increasing the base layer once again. I have always made sure there was **some** liquidity in both the tribaldex GLD:Hive pool and with a bot that continually places small buy orders on the Hive-engine. The problem is that both of those are Hive:GLD and not HBD:GLD. Making sure that anyone could reliably cash in their GLD for HBD has been a real pain. Either I had to continually monitor the hive-engine trading platform or continually monitor the tribaldex.com pool. Neither of those is a set and forget option.

# Today I took the first step towards changing that

![image.png](https://files.peakd.com/file/peakd-hive/cinderclaw.gld/23t8D6MYf9SWsnKad1WDg8EuCVWm5ogSAuyEfsBgG7Cdj1sTzJputiYkw7ydsrNEPZDVV.png)

### A buy and sell bot. **Finally** The website is currently in testing mode and honestly may never get beyond that. After some testing I can say that I was able to: ##### Convert HBD into GLD ##### Convert GLD into HBD ##### Convert Hive into GLD ##### Convert GLD back to HIVE It allows the @merchantsguild account to automatically trade back and forth between assets. The @merchantsguild account only holds a limited amount of GLD, HIVE and HBD so I can't do any trade at any time but it shows how much of each token it has and allows trades within that band. All going well, I'll likely make a bot that will check its inventory of HBD every day and stake it if over a certain amount and unstake it if under a certain amount. I'll also add how much is staked and how long until it becomes available. In that way people who hold the GLD token will know they get their value worth and not hope to get a good deal on the liquidity pool or Hive-engine. As with everything related to the Great Little Dragon things are very much in sandbox mode and experimental right now. However, I feel so much better knowing that I'm moving towards a stable token with a reliable on and off ramp rather than something that was a lot shakier before.

# I'm glad its done
Of course getting it even to this stage has been an issue. It still hasn't figured out that there is a Hive Keychain active. No guarantees whether or not it works on cellular phones. Screen updates are a bit flaky. Then again, I'm not getting unknown coin errors, coin sent but not tracked, and other issues I've been bug hunting. Overall now it certainly feels like an alpha version but at least its a functional alpha version and that makes me feel very happy :)

# Ideas for the future
Not sure it is possible or not but.... .... if I get everything done that I hope to? ### I'll want to add a large stash of EDSI tokens I would love to make EDSI tokens available just like HIVE tokens are currently available. The reason? If I hold the EDSI tokens then I get reliable HIVE income every week. I would love to keep a few thousand EDSI tokens so that I : (a) can make them available for sale to others and (b) get regular HIVE so that people can exchange GLD for HIVE if they like ### I want to convert excess HIVE tokens into HBD GLD is backed by HBD so in that way I really want to keep HBD tokens so people can get the peg value. If EDSI is increasing HIVE every week then after a certain amount of HIVE (likely equal to the exchange value of the largest owner of GLD tokens) then over that amount convert the HIVE into HBD leading to a regularly increasing stash of HBD to cover the minted GLD tokens. ### I want to stake excess HBD tokens I want to make sure that even the largest private holder can exchange their GLD tokens for HBD without delay. Right now the largest holder is @rare-gem with @jjmusa2004 being a close second. Both have roughly $20 HBD worth of GLD tokens in their possession. Now neither has been active for a number of months now which makes me sad but I would really like to keep $20 HBD sitting in the @merchantsguild account and accessible by the bot so if they ever wanted to cash out the money would be right there for them. However anything over that amount? Stake it! Staked HBD gets 15% interest so the more I stake the more I end up with in the future. I would still want to have a bot unstake it if ever there is a redemption of GLD tokens but if the liquid stash is sufficient I see no reason to waste potential! ### And then complete the loop. If ever I actually had too much HBD stashed? That's when I use extra HBD to : * Buy more EDSI tokens for weekly income * Mint more GLD tokens if people are interested * More HBD value offchain so that I have actual FIAT investments *also* covering the value of GLD tokens as well and of course keep the loop going :) .... For now though? I'm just so happy I have a working prototype to actually pump value into... But the next ***ACTUAL*** project is going to be an NFT mover. Right now I can see all the ESG NFT's (Great Little Dragon community NFT's). However in addition to seeing them I want to be able to let people *move* the NFT's to others and have a backend which *designates* what real world asset (or perhaps digital one) they are linked to and have a *backend* which will distribute rewards on a weekly or monthly basis. Yeah, it will likely start off really basic but who knows how it will turn out over time. Thanks for reading. I know this post isn't that interesting to most people but I sure think it is a right step for making sure the GLD token is solid going forward.

Steem Monsters Steem Engine Tokens!