RE: What is the appropriate APR for HBD savings according to you ?
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I believe there are two levels of the haircut. There is one level where instead of earning HBD, we would earn Hive from post rewards and there is a second level where HBD depegs from the dollar value. The problem I see is not the growing supply of HBD but the growing supply in respect to the price of Hive. The more HBD is in circulation, the higher the leverage on the dept ratio is. If Hive prices drop by a significant amount, the haircut can be activitated without it being predictable. In my opinion if this happens, it would be too late to lower the interests because there might be panic on bord with unpredicatable consequences.
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Yep, that seems about right. We've already expirenced no HBD (well, SBD) rewards being emitted. I think it was around the time Steem was worth like $ 0.1.
And a pre-haircut time, when author rewards slide from HBD to HIVE until only HIVE is paid.