This proposal is to burn 821 Hive Dollars (HBD) per day by transferring it from the Decentralized HIVE Fund (DHF) to @null. When the Proposal System was created during hard fork 21 in August 2019 there was significantly less funding and 821 HBD represents half the recent daily increase.
Please support the proposal here: https://peakd.com/me/proposals/83
- 4450 HBD is dripping into the Decentralized Hive Fund each day, almost 60% more than before the STEEM/HIVE fork!
- @steem.dao wallet has 445,051 HBD and 83,370,205 HIVE which is slowly being converted into more HBD for the DAO
- the 83 million HIVE and 164000 of the HBD represent Steemit's Stake and those accounts which supported Justin Sun's witness takeover, this currency injection is new to the Decentralized Hive Fund
- 821 is half the difference between the additional funds injected into the Proposal system as a result of the hard fork
Why Burn It?
- Reduce Additional Un-Planned Funding✔️
Roughly 3240 unspent HBD is accumulating in the DHF per day! If nothing changes after one year there will be over 1.628 million HBD in the DHF, in 5 years this could be as high as 6.358 million! If HIVE increases in value, it could be considerably more, as people share post payouts with the DHF, it will further inflate. Do we really need to add to this at such a high rate? This proposal will reduce the funding by less than 20% after it was just increased by nearly 60%!
- HIVE DECENTRALIZED FUND IS ALREADY WELL FUNDED ✔️
A large fund can be exploited; passing a proposal that may or may not build value is difficult, burning limits waste and increases value through scarcity. There is 445k HBD in the DAO, plus 83 million HIVE to be added if we don't act now. Much of these funds were never intended to support community initiatives. A tighter budget ensures only the most beneficial projects are passed.
- A STRONG & RESILIENT COMMUNITY BLOCKCHAIN ✔️
What makes us think that 100% of the additional 60% of funds flowing into the DAO (from Steemit and Justin's supporters) should be used for community development? This was not the intention of the people who supported Justin Sun or Steemit Inc. We have a strong and resilient community proven by recent events and don't need this excessive funding, burn half the difference!
VOTE TO BURN 821 HBD/DAY! ✔️
It won't cost you a thing