By now the HBD stabilizer proposal and supporting automation have been running smoothly for a few days, the algorithm has been published as open source, and both the automation and published algorithm have been slightly updated a few times. Everything is going well.
However, it is now clear that the original level of seed funding is well below what can be used. Therefore this new proposal is for an additional 200 HBD per hour (4800 HBD per day) to be paid out to the same account as the original proposal.
By having one proposal for 100 HBD/hour and one proposal for 200 HBD/hour, stakeholders can choose the level of active funding:
Main proposal approved: 100 HBD/hour
Supplemental proposal approved: 200 HBD/hour
Both proposals approved: 300 HBD/hour
There remains more than ample daily budget in the DAO for both proposals to be approved without displacing other approved proposals. I recommend that both be approved at this time.
By increasing the funding from 100 HBD/hour to 300 HBD/hour, we will increase the amount of HIVE purchased and sequestered into the DAO from about 9000 per day to 27000 per day, while supplying 7200 HBD per day that is being demanded by the market (as evidenced by the market premium on HBD). Numbers are at the time of posting and may be higher or lower in the future based on market conditions.
As a reminder, all funds paid out are immediately returned to the DAO, either in their original form (if HBD trades at $1 or below), or in the form of more purchased HIVE than was originally used to create the HBD. The latter represents an immediate profit to the DAO, and transmission of excess demand for HBD into demand for HIVE.
Proposal number is 159
100% beneficiary to @hbdstabilizer