Why You Should Vote for the Return Proposal — Right Now
Every few months I like to write a reminder about something that tends to slip off people’s radar: the DHF proposals and the return proposal.
Actually, I see my last post on this subject was Sept of last year. Wow — I’m overdue!
The Problem Killing Hive
If you’ve never voted on DHF proposals, it’s worth taking five minutes to look. Go to the DHF proposals page and scroll through. You’ll probably find a few that are reasonable and others that make you shake your head. cough rally car cough. The truth is that millions of HIVE flow through the Decentralized Hive Fund every month — and most Hivers have no idea where it’s going.
We like to think of the DHF as a brilliant system for community funding, and in theory it is. But in practice, it’s bleeding us dry. The more HIVE the DHF distributes, the more sell pressure we create. That’s basic math. Those payouts eventually hit the market, and when they do, the price falls. (They pay in HBD, but most of the recipients instantly convert that to HIVE to sell.)
This isn’t just theory — it’s what we’ve been seeing for months. Hive’s chart looks like a slow leak, and a big part of that leak is the DHF. @themarkymark has been harping on this for a very long time in the Bro server, and most of the server has come to his way of thinking and agree it’s a tremendous waste. While new projects can be valuable, we should never make it easy to receive funding. Free money breeds laziness, and our blockchain isn’t a charity.
The Return Proposal
That brings us to the return proposal. This is why the return proposal exists: to act as a brake.
When you upvote the return proposal, you’re voting to send unallocated DHF funds back into the treasury instead of dumping more HIVE onto the market. It’s not anti-growth, it’s pro-discipline.
The return proposal should always be near the top of everyone’s list. Upvote it first, then vote on the others. If a project truly deserves funding, it’ll rise above that bar naturally. If not, it shouldn’t be spending our collective resources.
Let’s say that again: The return proposal should be as high as possible. If a project wants free money, they need to prove it to the majority of Hive — and even then, it should be a challenge to get that fere money. These need to be damn good projects that can prove to us they will actually help. Not cough throwing away money on a stupid car cough.
As I write this, the return proposal sits at 44m and there are 11 proposals above it. I think it should be a lot higher with fewer proposals above it.
If you agree — go vote.
So here’s your call to action:
- Visit PeakD’s proposal list.
- Browse briefly and actually read instead of just voting on names you kind of sort of recongize.
- Upvote the return proposal.
- Revisit every week or two. New proposals pop up all the time.
If Hive wants to be sustainable, we need to stop the financial hemorrhaging. Let’s make funding very fucking hard again — because only when funding is hard will quality rise to the top.
And it starts with you clicking one small upvote. Do it here.
❦
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David is an American teacher and translator lost in Japan, trying to capture the beauty of this country one photo at a time and searching for the perfect haiku. He blogs here and at laspina.org. Write him on Bluesky. |
I tend to ignore it and leave it to others who understand it, but I appreciate this post as it clears a few things up. With respect to you, doing as ordered now.
Glad to hear it — thanks!
Wow, I didn't know about the Return Proposal. I'm relatively new to Hive (almost 2 years). I understand why this often happens with DHF Proposals, People are always attracted to flashy projects that promise a lot. You are already used to this in real life with commercials, what your neighbor or your friend sells from product catalogs or simply listening politicians' speeches on television.
People are often swayed by words rather than actions, which is why I agree with you that we need to be more demanding in approving a DHF proposal. First, you have to be well informed, then be as critical and demanding as possible.
Ignorance is a punishment and knowledge is a blessing.
That's the biggest problem with the system. These proposals promise the world, then after they pass, we never hear anything. Not an update, not a word on how the money is being spent. All we know is that it's not leaving Hive. Absolutely crazy!
That's right, after being approved, only God knows what they actually do with that money after exchanging it from HBD to HIVE and then withdrawing it through an external exchange. Evidence, receipts, and real, updated data should be required from time to time regarding these approved projects and what they have actually done with that money.
I've heard and read about cases of proposals that have been absurd and others that have ended badly (for all, expert for those with the money). This is a serious issue that needs to be addressed soon if we want Hive to truly recover as it is.
I think a few of the proposals immediately below this one might be worth their requests, so I'll hold off on supporting it for now.
Your call. But if they pass, then I'd urge you to then upvote the return proposal.
Really everyone should just vote for the return proposal to set the bar higher for HIVE as a whole. It's not like you are voting against other proposals, you are just setting the bar higher.
Exactly!
You should always vote for return proposal. That should be the default. You can remove it if and only if some individual or project seek for your vote personally.
Make you vote count.
Make people earn your vote.
Again: ALWAYS vote return proposal. Vote other proposals as needed.
I absolutely agree! It should be the default. But until it is, I'll keep pestering people to upvote it.
By the way, different topic. I have been watching a lot of videos about Japanese work culture. Basically overtime, toxicity at work and terrible middle management. Can you write something about that please from your personal perspective?
I'm not sure how much there is to write. It's about like the stereotypes of the worst offices in the US, but it's everywhere in Japan, not just the worst ones. I don't really have any direct experience. The closest I got was when I was fresh off the boat and worked in an English school. Since that time, I've been doing my own thing, so whenever I do interact with companies, I am doing so as an outsider and am exempt from all the normal corporate BS.
Hmmm...but let me give it some thought and see if I can come up with any angles to write about. I'll tag you if I can think of something.
I even saw it about English teachers in Japanese schools!
Not that school teachers are better paid here! Also at least in HISD which I have intimate knowledge of, endure other issues from Mike Miles (you can google Mike Miles), but still some of the Japanese school teachers videos on YouTube is alarming!
https://youtube.com/shorts/BH5eC5aqtEI?si=0UjThRfrna_tpWt2
Thanks for the upvotes!
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I was just researching on the DHF days ago and I saw this. As a new user on the platform I believe this is needed and ideal. My hive power might not be much but it is better than doing nothing with it. I have supported the proposal.
Definitely any proposal worth its salt will rank higher.
true point, done
I've voted for it for a very long time now and will continue to do so. We need to make those DHF funds protected so not any random project will get paid out. Then the money vanishes and does nothing to improve Hive, which is why our price is so low...
Thanks for opening my eyes to this. This is something I've never really looked into until I read this post. I've not been that supportive of projects, but I just learned that I can also work against scam projects and prevent them from getting funded.
Here we go, with my paltry power.
Done, and thank you for bringing this to my attention! I'm by no means new to HIVE, but a lot of housekeeping type things like this were either unclear or invisible to me when I first joined, and I hadn't revisited most of them since.
!PIMP