Just a FIY from my recent post, that the HBD liquid supply is at all time low now.
Here is the chart.
In relative terms it looks like this:
We are curently at 74% of the circulating HBD supply in savings, or a total of 8.2M out of the 11.1M circulating supply. The liquid share is at 26%.
HBD savings has shown to be a net positive for now, the users dont cash out, the absolute numbers keep growing in the period. While a share of it comes from the users compounding HBD and putting the interest back in the savings, there is also a share that is newly added.
For example for 2025 there is a total increase of around 700k more HBD added in the savings, while the interest generated in the first five months is around 500k. So there was an aditional 200k newly added HBD in savings that wasnt interest. These are rough numbers but are indicative. And this is even with lower 15% APR. Overall it looks like HBD in savings is a net positive for the ecosystem for now.