Remember to claim the interest on liquid HBD before the hard fork

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As you probably know, hard fork 25 is two days away. It will happen on June 30th, at 14.00 UTC.

One of the changes HF25 introduces is that going forward only HBD savings balance will be eligible to receive interest, not the liquid HBD as well.

The decision was made for two reasons:

  • to be able to pay a competitive interest compared with other stable coins
  • to stop paying interest for custodial liquid HBD held by exchanges. If they move part of the clients' HBD into the Savings account, they'll still benefit from the interest on HBD. However, clients might be interested to benefit from the interest themselves, in which case we might see a migration of some significant HBD funds from exchanges back to Hive.

Let's return to claiming the interest on liquid HBD.

Claiming the interest can be made once every 30 days (or more), by making any HBD transaction.

For liquid HBD interest it has to be a transaction on the liquid HBD balance, for savings interest it will have to be a transaction on the savings HBD balance.

As I mentioned earlier, after HF25 interest on savings is all we will have for HBD.

But now there still is interest paid for liquid HBD.

If you have liquid HBD in your account(s), you should go through this process to make sure you get paid the final interest for your liquid HBD holdings.

I'll exemplify the process for PeakD, because it's the most easy to follow, as far as I know.

  1. Go to your Hive wallet on PeakD (https://peakd.com/@[your_username]/wallet/hive)
  2. Scroll down to the HBD section. You'll see something like the image below:
    image.png

    Notice the "Claim in ... days" button. On your wallet it may be "Claim Now", in which case you can simply click it, and after confirming on Keychain, that's it. You've claimed your interest!

    If the number of days left before you can claim another interest is higher than 2 - that's the remaining days till HF - you won't be able to claim the remaining interest for liquid HBD before the HF25 kicks in, so it will be lost (as far as I know).

    Note: Any liquid HBD transaction, including claiming your post rewards if they include a HBD part trigger the interest payment, if there has been 30 days since the last payment.
  3. Remember to move to Savings any HBD you wish to continue to receive interest on. Keep in mind there is a 3 days withdrawal delay from the Savings account when you do that.

That's it! Let me know if you have questions or something to add.

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If the number of days left before you can claim another interest is higher than 2 - that's the remaining days till HF - you won't be able to claim the remaining interest for liquid HBD before the HF25 kicks in, so it will be lost (as far as I know).

That is not cool. Mine can be claimed in 4 days, good thing I only have 0.009 HBD.

In any case, good to know and thanks for bringing awareness.

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I am not sure the interest earned will be lost. I would like to get some confirmation on that. Perhaps someone knows for sure how that will work.

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This is blocktrades post:
https://peakd.com/hive-102930/@blocktrades/important-note-for-anyone-holding-hbd-before-hardfork-25

And in there he says:

Add 30 days to the date for your “Hbd last interest payment”. This new date is the earliest day you can trigger another interest payment for your liquid HBD balance.

If it is after the hardfork date, then you can’t receive any more interest on that balance as long as it is held in liquid form.

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