RE: Canada Community update 130622
(Edited)
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I have thought a lot about this,
- by offering it for just above the price of Silver, and second
- by creating a Liquidity Pool where users can pool MAPLE with HBD.
There are few more features I would like to add to the token as I gamify this community, but during this phase we are still raising 5000 BEE for the pool. The low price of HIVE makes it a great time to buy BEE, I should check the rate. Only 1093.52 HBD for 5000 BEE today.
There may be a physical silver component, I have the silver maple coin in the main post-- so you know its already backed by at least 1oz, plus all the HIVE/HBD in the @cvault .
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It's a great idea, as I do worry about the price of HBD if the dollar is being inflated.
However I would suggest you talk to the Hive Engine ppl about what it will take to maintain the peg, if someone tries to manipulate the price. You'll need a lot of liquidity to prevent it from getting de-pegged like USDT was, and getting rekt. Keep in mind that someone has been manipulating BEE, and through that has also attacked a few other Hive Engine coins on the market.
So I would suggest to do a lot of research into how to stabilize a peg, and prevent it from going into a death spiral. If you can find a way to actually back it with silver, I think this could be revolutionary! Maybe talk to the silver community, and find a way to work together with them. Something that somehow compensates them for backing the token with their silver, and provides a safe haven for those worried about inflation.
However it has to be done correctly, or it will fail, and hurt a lot of ppl. It's not going to be easy to do this correctly, but I am not discouraging you! I am just also on this same learning journey with creating a token for SkateHive, and have learned some hard truths along the way.
Best of luck, I hope you succeed!
I do have a plan to acquire Silver but at this time I don't have an announcement to make about it yet. I have watched the Hive-Engine communities very closely this past year and hope to build on successes and avoid failures. I appreciate feedback from Canada Community subscribers, what do you suggest?
I have 1 Silver oz i'll put on @cvault today, maybe I will frame it. I also recommend accumulating SWAP.BTC while Bitcoin is low. BEE is the Hive-Engine token and we want to raise 5000 but having a healthy balance of liquid HIVE and HBD savings is advisable. MAPLE will only be sold for at least the spot price of Silver, probably what it actually costs me to buy a coin at the dealer since that is what anyone would actually pay when they buy a coin.
This @cvault account exists for the purpose of being a portfolio that backs/supports the token/community.