Holo

29 May 2021 04:57

counting on irrational markets perhaps :)

Holo

29 May 2021 04:57

why would anyone hold hot tokens after the swap?

Holo

29 May 2021 04:55

Nah, this is what I mean

Holo

29 May 2021 04:53

I'm not sure what you mean, but I won't swap right away. There will be a 6 month period during which you can swap and get 1:1 for your HOT, so I will just wait since I won't need to pay for hosting

Holo

29 May 2021 04:50

Ah, I get it now, so to make user holoport could use their holofuel for their daily need it's to convert it to crypto in reserve account or sell it in centralize exchange if there any fiat pair with it

Holo

29 May 2021 04:46

So the credit in the reserve account are FIAT and HOT token ?

Holo

29 May 2021 04:45

Yes, Reserve account

Holo

29 May 2021 04:44

So HOT is the value in the reserve account?

Holo

29 May 2021 04:41

3. HOT will be the first reserve currency, and for the foreseeable future will remain redeemable through the HOT reserve account

Holo

29 May 2021 04:39

buy from holochain network, not from centralize exchange, right ?

Holo

29 May 2021 04:38

Questions

1. Where they get FIAT for reserve account ?
2. to make stability of the supply cause user redeem it using reserve account, holochain system will produce holofuel again and sell it and get fiat for reserve account ?
3. What will happen for HOT ? become abandoned Token in ERC 20 ?

Holo

29 May 2021 04:35

No it's okay for it to exist on exchanges. The stability mechanisms will still work

Holo

29 May 2021 04:34

for that purpose so Holofuel will not available in centralized exchange too, because it will be more trading in the with speculative market

Holo

29 May 2021 04:30

exactly, though if it is through an exchange, then it wouldn't really be redemption, but simply trading. it is only truly "redemption" if it is through the reserve account

Holo

29 May 2021 04:25

Just to clarify something, the value stability mechanisms are all automatic, and Holo as a company will not be actively doing anything here, nor do they acquire the fiat paid for Holo fuel. All currencies paid for Holo fuel through reserve accounts will be held in reserve for redemption purposes

Holo

29 May 2021 04:57

Of course, it's up to everyone to decide what they want to do

Holo

29 May 2021 04:56

If someone make speculation, they could swap half or others amount their HOT token to see what happen in holofuel, right?

Holo

29 May 2021 04:54

Because user holoport if they want to swap their holofuel in the reserve account, they will swap it to HOT and HOT to Fiat

Holo

29 May 2021 04:52

So thats why in old times you said you didn't swap your HOT to holofuel if not using holofuel, right?

Holo

29 May 2021 04:47

The first reserve account will be HOT, and my understanding is that additional fiat and/or other crypto reserves will come later

Holo

29 May 2021 04:46

Maybe I can try explaining a different way: Everyone who swaps their HOT for Holofuel will be putting their HOT into the first reserve account. When hosts want to redeem their Holofuel, they can do it through this reserve to acquire HOT, which may be more widely available on exchanges in the beginning

Holo

29 May 2021 04:45

Can you rephrase the question? I didn't quite understand

Holo

29 May 2021 04:42

Well, no, there is no single "holochain network." A holochain network would refer to a single application built using Holochain. You mean the Holo hosting reserve account

Holo

29 May 2021 04:40

2. If I understand your question correctly, the supply of holofuel can be dynamic, increasing or decreasing as needed. note that there is a difference between Holochain, which is a framework for building applications, and Holo (hosting) which is the company building the hosting/holofuel/holoport infrastructure

Holo

29 May 2021 04:39

1. From people who buy holofuel with fiat

Holo

29 May 2021 04:38

The price of buying Holofuel through the reserve account will influence whether people prefer to buy from there or through an exchange. The price will be determined by an algorithm that takes into account the price at which hosts are willing to redeem.

If there is speculation that pushes the price up on exchanges, then hosts will prefer to sell there, thereby maintaining the supply as is (i.e., not reducing it). Furthermore, the price to buy holofuel from the reserve account will be less than on the exchange, therefore more people will buy from the reserve rather than the exchange, thereby increasing the supply and stabilizing the price

Holo

29 May 2021 04:34

Well, redemption is a specific term in this case that refers to the act of redeeming earned fuel for fiat from the reserve account. The difference is that redeeming through the reserve would remove that Holofuel from existence, (i.e, the supply would decrease). If the centralized exchange has fiat pairs, then the person could also acquire fiat that way, but it wouldn't change the supply of Holofuel

Holo

29 May 2021 04:33

Ah, so Holofuel could be redeemed using reserve account, not using centralized exchange to become fiat

Holo

29 May 2021 04:28

So if the holoport user want to redeem their holofuel to fiat, they swap it in centralized exchange or in holochain system it self that have reserve account (reserve account have FIAT in there)? @theybrooks

Holo

29 May 2021 04:24

#if hosting in holochain not booming, the strategy maybe decrease holofuel need hosting something