Today @hiveio announced official date (June 30th) and recapped feature set of HF25 upgrade to the Hive blockchain codebase. We have spent a significant time working to prepare for this hardfork over the last 30 days. We would like to share what this HardFork means for our users.
TESTNET WEBSITE
It means we have spent a significant amount of time creating and prepping another site https://testnet.peakd.com/ which many users have been using to do the testing of Hard Fork 25 including updating PeakLock to do transactions (while hivesigner and hive keychain were awaiting updating). It also means we have been creating interfaces for some of the new features. In general because we've been doing work on these new features that are coming together with the Hardfork they have jumped to the front of the line above many of our other amazing planned features.
You can go give testnet.peakd.com a try right now... we still recommend using peaklock login because keychain takes some special download and setup to make it work... but if you want to help the Keychain team I'm sure they'll be happy to take your feedback directly.
RECURRING TRANSFERS
We will start supporting this new HF protocol with a very simple adaption to the transfer feature. We will allow users to hit a button on a normal transfer and turn it into a recurring transfer and add in how many times and how much per time to transfer and give users a total of those intended transfers. (works with HBD or HIVE)
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In the future we will work on creating a more nuanced system based on this protocol foundation... something that helps keep track of who is sending creators the transfers and help promote this on the creator profiles and help make that part of the creator/funder relationship and make it beneficial to both parties.
Something that could compete with the likes of Patreon but is Decentralized and removes those high Patreon fees... essentially something that takes out the control the middle man like Patreon or a CC processor has over that creator-funder relationship.
HBD APR% ON SAVINGS
We already have APR on HBD setup so the change to show APR only on HBD in savings will be pretty simple change.
Also our witness server plans on increasing the interest to HBD as we see how the new Hive to HBD conversion system works out. We hope that interest change comes together with a community wide push to advertise that new higher interest to all old users who may have HBD on an exchange... also a push to advertise a semi-stable dollar pegged token with a pretty high APR% that is also very securely owned token which is in a user's own time locked wallet and no one has to trust a potentially sketchy contract.
We will do our part to highlight this unique defi APR experience PeakD and mention it to external social media and when we are being interviewed about PeakD.
CONVERTING HIVE TO HBD
To help peg HBD down to $1usd we will create a user interface that allows for a new HardFork protocol that is being released.
We will not only help users create transactions to convert Hive into HBD but we will create FAQ paragraphs in the interface that answer some questions about HOW it works WHEN it's good to use and how HBD is a unique token worth considering. The conversion system while good is also not easy to understand... we hope what we have written will make it much more easy for users who wonder how it works.
CHANGES TO CURATION REWARDS FOR HIVE REWARD POOL
The Hive reward pool is getting some changes which are easiest explained here:
OUR RECAP
- No rush to vote in first 24hrs
- No rush to vote before someone else.
- No penalty to vote early.
- Votes on comments are predicted to rise compared to the past.
For PeakD.com this will require some math to make sure we are displaying the correct ESTIMATED amount for authors and curators.
in the future we hope to make some layout changes to this entire section to be easier for new users to understand what is going on with the Hive Reward Pool but for now we will simply be coordinating the math with the other front ends.
EXPIRATION ON GOVERNANCE VOTE
On the witness page and the proposal page you'll be informed how long your votes are good for. They have a max of 365 days and are reset to 365 days each time you do a new governance change. We will inform users of how that works with a popup as well.
PROPOSAL END DATE EDIT
For those who make proposals we will create an interface to allow you to change the end date of your proposal.
VOTING ON OLD POSTS
This does not impact the Hive Rewards Pool but it is something PeakD is very happy about...
Last HF developers turned off this useful feature and it messed up some of our plans... now that we will have this back we plan on creating a few new features that keep track of certain actions/achievements using specific accounts and votes.
Easy example is we will be able to indicate posts with the highest number of viewers during a month (previously we were limited to daily and weekly because after 7 days we couldn't vote on the post). There will be many other similar analytics based awards like this in the future and we believe other projects will decide to use this feature set to easily keep track of cool things for a post.
WHAT YOU SHOULD DO TO PREPARE
- Move your HBD to savings IF you want to earn interest on it and if you are ok with a 3 day time lock on the HBD.
- Think of how to promote the higher interest on HBD token.
We suggest not promising your friends or followers that it will be perfectly pegged 24/7 exactly to $1.00usd. Time will tell how well it stabilizes. This is impacted by many things including how much HBD stays on crypto exchanges and how speculators (including their bots) will greatly impact price variance. - IF you like to do last minute advanced testing and can give good feedback to developers try out testnet.peakd.com
- Consider how you'll make any changes to your voting practices. You don't have to wait until the post is 5 minutes old now. It doesn't matter if a post has already been voted a lot or a little in that first day. You can incentivizes interactions on your posts with comments. (Side note: PeakD has always happily used our voting power for great comments on our posts and even tips even before the HF)
- Stay active throughout the year in governance and your votes will always be counted. Technically you will not be impacted until July of 2022
MORE ABOUT HF25 (including the history)
Check out this well curated Collection of HF25 posts curated by @jarvie