Decentralized Hive Fund
We here on the Hive Blockchain have our own Decentralized Hive Fund or as many like to refer to it as DHF. These funds help upcoming and ongoing projects on the Hive Blockchain by giving funding to projects that qualify. To qualify a project needs to get sufficient community support. This is done by getting community votes on their propose plans for requested funds. This voting is done via the Proposal system. Inside that proposal system is a proposal known as the Return Proposal. What is the Return Proposal? In short any Proposal (Request for funding) that falls below or more correctly put happens to be below the Return Proposal doesn't get funded. Funded projects that fall below the proposal also lose their funding until the time comes that they can once again get enough community votes to surpass the return proposal. I know that is allot of info in a small short paragraph. Even as I re-read it I have to take a moment to process it all. Alright lets continue with recent news of a whale voting the return proposal thus placing many once funded projects below the return proposal. Don't let my nonchalant way of introducing you to that overshadow the importance of what took place. Some projects were getting hundreds worth of HBD daily that now are not. What impact does this have on all of us little folks that like to come to hive for the blogging aspect or gaming aspect. The rewards to us little folks are secondary. Well you will notice at the start of this post I used the word we and the reason for doing that is this.
You Own The Funds In The DHF
Yup, I said it! The funds in the Decentralized Hive Fund are community owned which is why its up to the community to decide on what projects get funded. Ideally the funds would go to projects on the Hive Blockchain that need the funding and at the same time bring value to the blockchain. If you have a standalone project and you are in the profit is the best use of DHF funds to give to such a project? I don't have the answer to that but its a question each of us should ponder before voting but I digress. When a project gets approval from the DHF and receive funds can you guess what is likely to happen to those funds? Off to market they go thus putting sell pressure on the Hive Token. The proposal system isn't something @rentmoney has paid much attention to but that is my fault as its certainly a very important aspect of this chain we all love to interact on. We don't want bad actors getting their hands on those funds. Anyways, earlier the DHF had an earthquake hit it when an account holding millions of Hive Tokens decided to vote the Return Proposal thus rocketing the Return Proposal above some projects that before the whale vote was getting funding from the DHF. Naturally this caused shock-waves and the Hive Blockchain has been buzzing about such events since. Direct links to get to the proposal page will be provided below.
Direct Link For Various Front-Ends
- Hive.Blog: https://wallet.hive.blog/proposals
- Peakd: https://peakd.com/me/proposals
- Ecency: https://ecency.com/proposals
RentMoney's Thoughts:
All is fair in love and war. If someone with stake wants to vote a certain way; that is how the system works. Roll up them sleeves and get more community support. Roll up them sleeves and get your hands on more Hive Token so you have more influence. The system is working as intended. Some will benefit others will fall behind. I haven't checked to see if the whale vote was removed or what projects managed to get more support to once again be funded. In either case such actions just goes to show the power and importance of having staked Hive. It's also a reminder how little my stake matters in the grand scheme of things. My blog can easily be destroyed by one whale but hey that's how the system works. If I don't like that fact I can roll up my sleeves, put my thinking cap on and find a way to invest/ earn and stake more Hive Tokens. Click here to read the return proposals post.
Screenshots in this post are sourced from the return proposal post created by @gtg. The gif header is a scene from the movie Home Alone. The Rentmoney blog is for entertainment only and contains no financial advice. Whats your thoughts on this? Did you know the DHF existed? Have your say in the comment section below. We look forward to reading your replies!
Edit:
Looks like the whale vote on the return proposal has been removed for the time being.
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