Comment and win ecency points - Adding CENT? and other ideas

I am going to discuss tentative ideas and plans in this post. Nothing here is set in stone. This is more of an outline/brainstorm but I am looking for feedback. This post is not financial advice.

Just for giving feedback, I will send everyone that makes a thoughtful comment in the next 7 days 50 ecency points as a thank you. 1 per account.

Adding CENT to the tip bot. This seems to be a popular idea. I have thought of adding another token since before UNICOIN launched. There are two ways we could do this that I can think of from a technical standpoint. We have a few other things to do code wise, but this is easily solvable.

The long term issue is sustainability. Like everything with UNICOIN it needs to be sustainable. Here is my plan:

Increase holdings in the CENT diesel liquidity pools. I have a good idea which pools to jump in and how much is needed from my primary account. I basically need to multiply those holdings by 1.5 and that would get us started.

This can be funded by using the HBD from posts and swapping and adding to the CENT liquidity pools(not just the HBD pair). Powering up some CENT as well, but mostly putting funds into the diesel pools.

This is all easily do able.

The catch? If I add CENT to the tip bot, the amount of UNICOIN distributed per call will decrease. This is because it will cost resources to maintain these diesel pools. Everything here needs to be balanced ,sustainable and paid for.

Comment below if you are interested in adding CENT to the tip bot (tipped to both parties) knowing that the amount of UNICOIN per tip will go down to balance it out? Let me now in the comments. I am especially interested in hearing from delegators or folks who are considering delegating.

Another thing on the list is creating a UNICOIN diesel pool. Not for price stabilization though. Price doesn't matter here, though arbitrage is fun . It would be more of a way for folks to earn rewards in the pools while also spreading the word about UNICOIN.

This is a long way out. To set up the pool costs 1000 BEE plus I'd need to make sure there is adequate liquidity and rewards.

We are not there yet income wise. I can't justify the cost of setting one up- not yet anyway. I do have a plan on how to start building it over time -essentially leveraging other diesel pool rewards to help fund it. Increasing our holdings in the CENT pools (and other pools)can help with this as well.

We'd need about $1000 in total assets including pool rewards, BEE cost, initial liquidity etc to set up a pool and we aren't there yet. That's not a good or bad thing , it just ...is.

It is something I am planning on. Like all things here, there is a method to my madness. I see it simply as a goal to work toward.

Adding CENT, to the tip bot if that's what folks support , shouldn't take too long to implement.By that I mean in the next couple of months likely. Please let me know what you think about adding CENT and the trade off below.



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13 comments
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CENT is one of those tokens that decreased in value for quite some time, the investment-case around it is complicated (I don't want to invest in stuff I don't understand) and it is on my "most likely dead soon-list"...strong veto from my standpoint
!BBH
!UNI
!LOLZ

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(Edited)

Have you ventured into the liquidity pools for CENT? Just curious. For me that is where the value is. Is there another token you would be interested in?

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I never tapped into liquidity pools, so it might be a valid investment...but if so, why is the token price of CENT dropping and dropping?
I am interested in buying BBH and BBHO and dripping part of the drip to UNI token holders. Getting direct drips is a value every token holder can comprehend and therefore buying more of a certain token.
!BBH

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There are multiple answers to that question. The same can be said about HIVE as well. The price is dropping compared to even earlier this year. I also look at value and not necessarily price when looking at tokens. yes price mattes ..but. . Let's say you are brand new to Hive and have np crypto. you could earn CENT , (BBHO and other tokens for posting., BBHO price has also gone down significantly since it's launch and it is a lot younger than CENT. But there is value in BBHO besides price just like CENT) you can then turn around sell half the cent and join the liquidity pools for free and compound from there. The pools bring value. Liquidity rewards are paid daily, plus you earn on every swap. CENT has done a lot of good for the ecosystem of Hive and Hive engine tokens. they even have a small burn initiative not just for their own token That is value that price does not reflect, in my personal opinion.

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I always try to stay open minded. So I would like to see what those pools bring in to assess the risk-reward-ratio. If you (and the community) decide to go for an investment in CENT I will still support it, even unstaking and sending you all my CENT (it is not a lot)
!BBH

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Here are a few images of the rewards. These rewards do NOT include the fees from swaps/trades but this is is the baseline rewards. Look at the USD value of TVL (total value locked) and the daily rewards on the left (sent automatically). Most CENT pools are at around 50% APR or more. For context all rewards in liquidity pools "expire". when they do he just renews. He also adds to the pools regularly-it's how he can sustain the high APR . The first is the Cent/ TRIBE pool
Second image is cent/hive pool.

In my personal opinion the risk is less than buying a dividend paying token as many of those are over priced for the amount received in rewards. That is just my opinion . yours may be different. I appreciate this discussion. ❤️🦄

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well than let's try it, but also stay diversified, not going all-in : )

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God no. I never go all in on anything. I'd be a terrible poker player lol. Getting into the pools, in general was always the plan, especially as of late. Diversification for sure. It's also 99% passive, just gotta compound once in a while to keep things growing. Also the CENT pools will not be the only pools we go in as well. There are a few hidden gems and a longer term strategy I will get into in detail in an upcoming post a few weeks from now)

This conversation was fantastic, it got me thinking and seeing things from a different perspective. thank you for taking the time to discuss. In fact I will send you 2 HSBI one for your post and one for your time here. As always ,please feel free to suggest other things, tokens, etc.I genuinely want to hear from folks. !HUG

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I enjoy this discussion BTW. i love hearing different perspectives. i can share with you what my daily (drip)rewards are in the CENT pool if you are interested. I am not trying to change your mind here just sharing information.

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interested in adding CENT to the tip bot

Mi interested in CENT being added, and also pools (a.k.a. ponds).

!UNICOIN !ZOMBIE !BBH

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Ponds for the froggie :) I just sent your HSBI. !BBH

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