1 day to go until the end of phase 1
I'm back home after my tour of Switzerland. I had a very nice time but it was quite cold.
After the last update where we celebrated reaching 6000 HP with the @ctpsb account, I make here another update mainly to explain how the transition from phase 1 to phase 2 will be.
The first phase
During the month of September, people had the possibility to send hive, hbd, beneficiary rewards or even delegations to the @ctpsb account. All the contributions were noted and for each person a tab was created. At the end of September, for each hive contributed a CTPSB token will be emitted and sent to the person.
If you want to send some more hive to the @ctpsb account, please send it before 30.9.2020 24h00 CET. After this date, your contributions won't generate new tokens and will instead increase the value of all the existing tokens.
The second phase
On the first of October, probably around 8am CET, the tokens will be emitted. If some hive came in before this time but after the midnight the day before, I will still credit tokens. After the tokens have been emitted, all the hive that comes in on the @ctpsb account will increase the value of the token.
The market maker (MM)
The market maker has invested 200$ in hive. This gave a total of 1350 Hive. 675 Hive was sent to the @ctpsb account and the market maker will receive 675 CTPSB tokens on 1st of October. The market maker also has 675 Hive in liquid form. He will use these tokens and the liquid hive to create a kind of liquidity pool for the CTPSB token.
The MM puts all his tokens for sale at a price that is about 2% about the value of the token. He will also use a percentage of his liquid Hive to set some buy orders, also about 2% away from the value of the token.
If the token value is 1 Hive. The Market Maker will sell tokens for 1.02 Hive and put buy orders for 0.98 Hive.
The spread between these buy and sell prices, will allow the market maker to grow alongside the project and increase the liquidity.
How to buy CTPSB tokens after the 1st of October
The only way to buy CTPSB tokens after 1st of October is to buy them on the hive-engine market. The market maker will always sell 100% of the tokens that he owns. He will however only use a percentage of his liquid funds to buy back tokens.
How the project grows in the second phase
By buying tokens on the market. The tokens sold on the market by the market maker will be bough back from the @ctpsb account who emits them. So purchasing tokens will make the account grow in an indirect form.
Our objective is now to continue to make the account grow.
The account will also grow with all the income that it generates. Curation rewards, Author rewards, Beneficiary rewards and interests for powering up will cumulate and make the value of the token grow. At the same time the @ctpsb account will grow and provide even more powerful upvotes.
Learn more about the CTP Swarm Booster:
▶️ 3Speak
Latest CTPSB news 29.9.2020 23h00 CET
Total owned Hive Power: 6975
Welcome back.
It is great what has happened both yesterday & today.
I think CTPSB will pass 7000 before release of the token.
Am I mistaken or will not a 0,98 buy and a 1,02 sell mean a spread of 4% not 2%?
I also believe that we will pass this mark.
There is an adgio of 2% on the token value but you are right the spread will be 4%. At least at the beginning. It will probably be lowered after a couple of weeks. I need to see how people act on the market first.
Greate.... waiting for the release...
We are there soon :-)
Oh ok that's fine Thanks
Thanks a lot for your feed-back!
A couple of HP more and we are over 7K! Great result and awesome community support!
Thanks, Achim for creating this!
I'm really amazed at what we have been able to reach so far. Hope it continues this way :-)
6000 HP is just a start... I am sure this will ho up like anything.....
I hope so too :-)
I am so excited!
Thanks a lot for stopping by and for contributing!
Your balance is below 0.3 HIVE. Your account is running low and should be replenished. Check out the Dustsweeper FAQ here: https://hive.blog/dustsweeper/@dustsweeper/dustsweeper-s-faq
Woo hoo! We are almost there - beginning of October will be exciting for this awesome project! I know we will make it to 7kHP if we haven't already :)
I am glad you had a nice time on the Alps. :) It is starting to get cold here so I can only imagine there lol. Thanks for all you do, my friend 💖
Thanks a lot for your kind comment. I'm a bit running at the moment. When I leave the house a couple of days, I've to work quite hard when I come back to keep up with everything I missed at work and online. Hope I will be soon back on normal cruise speed... lol
Aww that's the thing about vacation - always catch up when you return. I have no doubt you will get through it well & look forward to seeing you back with us! :)
Excited for this
Thanks a lot for your comment!
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This sounds like a interesting project
Thanks a lot for stopping by!
Let's roll on. It will be a new feeling to see token emitted in Hive-engine.
I hope you will publish weekly stats for this account too to track our progress.
I have this planned. I think it's important to keep track of how we go forward. Thanks a lot for the suggestion!
Just sent 2 HP to you. Using the keychain.
Hi, I saw that you delegated 2 HP. You need to send liquid hive to @ctpsb otherwise you won't get any tokens.
So can I have it back and I just sold some CPT tokens Hive earlier I want to get it all I'll send it
To have it back you simply have to set the delegation @ctpsb to 0. If you want to buy more tokens, you can do it over the hive-engine market.
Well it was only once so it's okay I'm not going to do it
We passed 7000 HP on the account.
Way to go people.
You rock.