The Terra.sinkhole Project call to action - help needed
and report.
I don't want to jinx things, but I must admit this project seems to be a success, at least it is not a complete failure. As for now we are able not to lose liquidity pool value, which means this project creates enough to race with scrap price downtrend. There are ups and downs but we're in average. Of course it's only thanks to the delegatees (or rather delegators) that support this
It would have been better if some people wouldn't flag @terraboost account as spammy, which is not (and which sets @hive.fund as a beneficiary).
Whatever, I'll have never understand it. However this makes my ask even more important. Your support at initial stages is more important now than later. You can delegate any HP for a limited time or send any donation (every H-E token counts).
What it is all about?
I don't like where and how scrap price is going i decided to create a sinkhole that would collect scrap off the market and burn it. During first days I switched from direct burning into creating liquidity for swap.hive:scrap that is meant to be eternal or go to @null.
How did we do?
| statistic | value | change since last report |
|---|---|---|
| HP | 28.356 | +9.536 |
| Delegations | 2,182.730 | + |
| Hive account value | 7.8 | + |
| Scrap burned | 0 | + |
| Scrap in LP | 2550 | +841 |
| Hive in LP | 6.653 | −1.871 |
| LP value | $3.61 | −1.11 |
Why should you care?
For those playing the Terracore the answer is obvious - it may help your game. Those not playing might benefit from this Project as well, because it:
- Proves Hive usecase,
- Shows and proves (if succeed) the solution to issue of game token depreciation,
- Takes some Hive out of circulation - staked HP is not on the market being sold
swap.hive:scrap pool data
Hive statistics
The account analytics
The current delegators
By @jocieprosza
https://twitter.com/HivePolish/status/1701305459989152041
https://leofinance.io/threads/terra.sinkhole/re-terra-sinkhole-2euwjvk8q
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As I understand it, your project's goal is to ultimately remove scrap from the market.
To do that, it seems like you need a source of income. It may take a while to build that up, I think doing what you're doing is a start to that.
You can earn author rewards by posting content about the project which you are doing, and curation rewards by using the account to upvote other terracore posts.
Doing that will generate income for the project. It may be small at this point, but if you reinvest some of that it will grow.
I wonder if it would be beneficial for the project and growth to take some percentage of the earnings and swap to burn scrap with it. And take some other percentage of the earnings and reinvest in HP and liquidity pools.
You could say take something like 20% of the earnings to buy and burn scrap.
40% into LP
40% into HP for the account.
I don't think your project is failing, I think it's just growing slowly. I think there may be more interest if you start showing how much scrap the project has burned - this benefits everyone in the ecosystem.
I encourage you to stick with it! Maybe this is a project that will need to grow slowly over time.
I didn't burn any scrap yet, but it's over 2k of it locked in the liquidity pool. It secures the price a bit. I guess it is more so in comparison to definite burning.
Thank you for your comment