Saturday Savers Club - Week 34 - HBD Interest Rate Changes?

mypathtofire(75)

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Hello to all Saturday Savers. I am a day early with my report. We are now mid-way through August and the end of week 34. You can check what week it is here.

This week there seems to be some change in some of the witnesses for the % interest rate for HBD. I saw some have decided to reduce the rate to a lower more manageable level and others are taking a more gradual approach to reduce the rate.

I think this is a good move as compared to the market rates for stable coins, HBD was right up there with the highest return but it still did not attract the capital as hoped for despite the high return.

A renewed focus on Hive Power and strengthening the eco-system over the long term by reducing the rate makes sense I think and maybe we might start to see some Hive price appreciation and more interest for new users.

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So far there are only 12 witnesses with a 20% interest rate in the top 20 witnesses. I am not sure how many need to have the same rate to reach a consenus. But it will be interesting to monitor this if there are any changes in the near future.

It is also in the interest of Witnesses to ensure a healthy Hive reward balance as this is also where their rewards come from. Killing the goose that lays the golden eggs so to speak.

My Hive tokens grew by 381 this week which was a nice amount. I am almost 85% of the way to reaching my target and have 6575 Hive left to power up this year to reach my 100k goal. This will be 5575 Hive from next week after HPUD. It is good to see this goal getting closer.

My ALIVE tokens grew by 124 this week which is more than last week. I am behind on target here but hope to catch up during the year.

There was another drop in the Genesis League Goals token price and some of my buy orders got hit so that I could increase my GLX stake by 25449. This brings me closer to my goal of 100k GLX by the end of the year and I am now on target to reach it. I also have some packs that I had forgot to stake which also give me some daily GLX which helps increase my bag.

That's it for this week. Before I go, be sure to check out the @eddie-earner or @susie-saver accounts for more details about the Saturday Savers Club. This is run by @shanibeer.