New INCOME pool created!
There has been lots of stuff coming across my desk lately, I've been in quite a busy mode and once again have half a dozen posts in draft mode, but I'm going to stop all that to quickly bang out a (different) important post this morning.
After a good discussion with @leveluplifeph, and lots of thinking, I moved some things around and pulled the trigger on the SWAP.HIVE:INCOME diesel pool. Let me tell you what was done, what the effects should be, and how we will be accounting for it.
Photo by @ecoinstante / © Ledis Arango V.
Jump to Conclusions
We minted 2000 new INCOME tokens, and I sold myself 1000 of them for 10 HIVE each, for 10k HIVE total. Go ahead check the market, you can buy some at that price to, for the time being.
@locolombia created the diesel pool, which it enjoys doing for promising projects. Don't forget:
There are still 3 days to nominate your favorite project to win a diesel pool!
@ecoinstats deposited the other 1000 INCOME tokens together with the 10k HIVE into the diesel pool, and just like a charm, the results you can see below. This is 'corporate liquidity', it is owned by the fund, and we are unlikely to touch it at all, or at least not very much of it and not very frequently. There are no rewards on the pool except swap fees (0.25% of every swap).
Already we are a pretty deep liquidity pool relative to many projects, our depth puts us between TEAMPH and LVL among SWAP.HIVE pools:
Consequences
It has always been a bit of a challenge to maintain a market for our small token, especially with buy/sell orders that expire in 30 days and me being just one person.
So the first result of the diesel pool was nice to see, robot liquidity at 9.9 HIVE magically popping up!
This should protect us to the upside as well, in a future where @ecoinstats is not selling any more tokens, which is about 295 INCOME away.
I have also been reliably informed that this will give confidence to investors about getting their money out. Slippage is real, but infinite liquidity is a wonderful thing, I agree. So go ahead and rest assured, the pool has water in it.
Accounting
This will definitely make internal accounting slightly more complex, but the dividend math hasn't changed one bit.
Not counting the 1000 in the pool and 295 unsold on the market, there are now 11705 INCOME tokens, of which I own 8111 of them. This makes me 69.3% holder in the fund, which I feel very comfortable with.
Our program continues to grow in its breadth and complexity, join the club and watch our podcast. If you have any questions, concerns or comments, reach out and let me know.
Liquidity is very important for any token. I think it is a wise step.
I was waiting for your post, maybe because you were busy, you didn't post for a whole week and today I saw your post. The step you have taken is very good for giving liquidity and you will see in coming days you will earn a good profit from here. Every new project that comes out is liked by the people so we see that it becomes popular all over the world.
Go man go. The deeper we make the HIVE ecosystem, the more robust and attractive it becomes.
Even though i do not know much about cryptocurrency, this sounds very cool. It is a better step forward
Now the price of INCOME is real and not just a high score.
Liquidity is king.
I think having a pool is always better than not having one. The extra liquidity will help but I have noticed that most pools don't get much trading volume outside of Splinterlands.
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You must be killin' it out here!
@biglove just slapped you with 10.000 PIMP, @ecoinstant.
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