Image created by me
This post is not financial advice
I've been doing some thinking about how my other accounts could help boost this account. The purpose is to sustaiably burn and mint new tokens for the LPs.
I know burns and mints and the opposite action, but bear with me. The two strategies I came up with are not unique or groundbreaking but they will help boost this account every month by leveraging my existing accounts without taking too much away from these other accounts.
Set this account as beneficiary on
and
posts. Not every post every time but I do want to do this more consitently. Right now I am setting this account as a 20% beneficiary. depending on how often I post and other factors that should gain this account a minimum 20 HIVE/HP a month which is enough to back 2000 GLITTER.
Using some of the THREE tokens I get for playing the Three Legacy game and transferring them to this account so they can be swapped for HSBIDAO. I do not have a set percentage as that THREE is divided among multiple accounts. However, just this morning I was able to gain about 20 HSBIDAO tokens doing this with just a small fraction of the THREE tokens I earned. If I do this one a week that could make a huge difference.
This month I am still concentrating on token burns as I buy back tokens. I will make note of the total tokens burned as well as the assets earned this month and come up with a number of tokens to mint and put into the LPs. Specifically they will go to the HSBIDAO:PIXYDSUT LP first as that LP could use them more at this time.
Example scenario
I burn 2000 tokens this month
I also gain 10 HIVE/HP from being a beneficiary on posts(worth 1000 GLITTER)
As well as 50 HSBIDAO (worth 2500 GLITTER)
That's a total of 5500 GLITTER tokens I could mint and put into the pool the following month. However, in this scenario I would only mint 5000 or little less. This way the ratio of tokens held to tokens in circulation continues to increase.
Keep in mind this account is also earning a small amount from posts , curation, HSBIDAO divs and LPs in addition to this. It all adds up.
Over the next few months I would like to add 15,000 -20,000 GLITTER to the pools. Implementing this strategy keeps the ratio high while this account continues to grow.
Once I reach that goal I will likely focus mostly on burns for the rest of the year. The goal of GLITTER minted may increase depending on how the LP pools grow in terms of folks adding liquidity. If more folks join the pool the number of GLITTER I will put in will increase.
Using THREE tokens to swap for HSBIDAO also allows me to keep the current HSBI units in this account without needing to convert them, though I still may convert some.
In addition to the assets I described above I am also planning to send this account some more PIXYDUST tokens over the next few months. These tokens were already pre paid by me to set up that account but I just haven't minted them all yet. I will then pair them with HSBIDAO in this account and put them into the LP.
Tokens held in all LPs count as tokens that back this account, however, I am working on gaining more HIVE/HP on this account in addition to these tokens to keep it more balanced.
This account ,and the GLITTER token, is kind of the backbone of the LP rewards. It makes sense now that there are two LPs to fund that this account gets more attention in terms of earnings/growth.