Dalz has an ongoing test project where he is offering a guaranteed 10% interest on top of the HBD Savings APR to those who are buying into the HBD Bonds experiment. The sale period (depositing or sending of HBD to the dedicated account) started on the 15th of November and will end on the 26th of November.
Accordingly, this is the first experiment for HBD Bonds which he capped at 10k HBD. Users who are interested in joining or participating will send HBD in whole batches or numbers - hundreds (100, 200, etc) or thousands (1k, 2k, 3k etc) to @hbd.bonds.
After 90 days, they will receive the guaranteed 10% plus the HBD Savings effective interest (20% currently). So if in 3 months (90 days), the HBD Savings APR remains to be 20%, then users who participated will receive 30% in total APR.
Where does the additional 10% interest come from?
Dalz mentioned he would take it out of his own pocket. Since he is putting the HBD into Savings and nowhere else.
At the time of this writing, there are 3,600 HBD sent to the wallet and have been put into HBD Savings. Maybe people still didn't see the announcement or they did but are not willing to lock up their HBD for 3 months despite the additional APR.
Depositors can withdraw their funds earlier than 90 days by notifying Dalz and they will have them within a day, but they won't earn any interest.
What's the purpose of the experiment?
I read that he was "curious to see how this goes and whether it is viable for something like this to be built on top of HBD." I also read from the comments where he mentioned that he wants to check whether people can lock their HBD for a longer period of time without withdrawing them early.
Accordingly, this experiment was inspired by the talks of HBD Bonds where the idea is to have a longer lock-up period for HBD with higher returns as opposed to the 3.5 days that the current setup of HBD Savings is.
For more information, check the announcement post. There was an update at the bottom of the post already.
There is a note that if less than 50% of the 10k cap will be sold during the period, the experiment will be canceled and Dalz will return the funds to the depositors.
Thoughts
Some people say the 3.5-day lockup period for HBD Savings is too short and they are toying around with the concept of HBD Bonds. If I'm not mistaken, I first heard the idea from theycallmedan.
It will be interesting to see how this experiment by Dalz will go as it will probably be a good way to learn.
I sent just 100 HBD which is the only liquid I have sitting somewhere and I might withdraw my HBD Savings and add to it before the sale period ends. The husband suggested withdrawing the HBD Savings on his account too but I'm still thinking, lol! Will see.
For infotainment only.