The hbdstabilizer has become a very valuable tool in the Hive ecosystem, helping to keep the Hive-Backed Dollar (HBD) peg to the US dollar. It was created by @smooth and so far he has been the only one running such a bot.
To help reduce the dependence on a single person, I decided to create an open-source version of the hbdstabilizer bot, and it is now available here: https://gitlab.com/borislavzlatanov/hbdstabilizer
How it works
The bot is based on the pseudocode provided by @smooth. The thinking behind it, at least so far, is that people will make proposals and if they receive funding, the bot will use the funds to help HBD reach peg, and when HBD is at peg the bot will simply return any funds to the Decentralized Hive Fund.
The bot sells liquid HIVE or HBD or performs conversions (HIVE->HBD or HBD->HIVE), depending on the market conditions.
This is at least the current concept. If people have ideas for variations on this concept or other approaches, share them and maybe we can experiment with some of them.
Next steps
I was also going to run a proposal myself (without taking any cut of the funds) but it seems to me unlikely to get funded. So for others out there who would like to make a proposal to fund their own hbdstabilizer bot, hopefully having the code available makes this easier. You don't have to be a developer, just someone who the community will trust enough. Give it a thought and see if you want to run one.
Verification by the community
The bot doesn't keep any funds for later use - it either sells, converts or returns back to the DHF account. (Technically, there is a minimum amount that has to be in the bot for it to take any action, but that can be set very low, even to 0.1 HIVE/HBD). This should make it pretty easy for the community to verify that the person(s) running the bot is handling the funds as intended. If not, the proposal can be unvoted right away.
To make things even easier, a verification tool can be created that checks the balances of hbdstabilizer bot accounts. If it detects that there are funds in them or that funds are sent somewhere other than the DHF, it would automatically unvote the corresponding proposal. This would really minimize the needed trust and overseeing by the community by creating an automated ongoing check of multiple bot accounts. Let me know if there is an interest in something like this being developed.
In conclusion
Your thoughts are welcome. Let's see if we can have a wider number of bots that help keep the peg.
Comments (14)
Good. I don't know if smooth is taking any of the funds for himself because he hasn't ran his bot open sourced and there is some concern as to whether he is taking some for himself or not. And not just s little bits but s whole lot of bits.
Your method to do this open source and transparent is the way to go. You got my vote if you keep it that way. Make the proposal.
The funds going in and out of the hbdstabilizer operated by smooth can be tracked. I think @dalz made posts with statistics showing that there are more funds returned to the DHF than were sent to the stabilizer.
For sure, figuring out a transparent and reliable process for these things seems like a good way to go.
Great job! Probably will be testing it soon
Awesome. Let me know how it goes.
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Great contribution to the Hive ecosystem! 🤖 Do you think this open-source bot could inspire other developers to create similar tools to strengthen Hive's decentralization and stability?
I would be really happy if it inspires others in such ways.
Hopefully time will tell, I am convinced that yes
Nice!
брейййй :) брао, чуек! ;)
тенк ю :)
This is a great initiative that adds much-needed transparency and decentralization to the HBD stabilization process. Thank you for making the code open-source—this empowers more community members to participate and reduces reliance on a single actor. I also really like the idea of a verification tool to track bot behavior and ensure accountability. Looking forward to seeing how the community adopts and builds on this!
Awesome contribution to the hive ecosystem !ALIVE
Wow! I never knew such tool exist. Keeping HBD pegged at a dollar is very important. A fluctuating stable coin as they say is not reliable, so having such tool is a good thing. And making it open source for others to run is a nice idea. This is a very nice development. Also, the idea of a verification tool will make it more reliable for hivers to fund. Nice job 👍👍
HBD's incredible work is essential for the survival of the HIVE community.
Hi borislavzlatanov
Sorry my post is not related to the stabilizer , but with /hive-open-polls I would like to use it in a HOA managing tool I am building I already installed your code , it looks to run well , but would really appreciate some advice on how to build over it
Sorry for being this direct and I know maybe this is not the best way to , but is there any way I can contact you and have a quick chat ?
Sure, I am happy to hear you want to use and build upon polls. You can contact me on Discord if you use it. Or else Sting chat.
It would help to have different bots play the role of stabilizing HBD. Thanks for creating an open source version of the stabilizer!
!PIZZA
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