Our first Power Down since the Monster Raffle has completed and last week I initiated the new 13 Week Power Down for Q1 2024. This second one will see us through until March and since our Hive Power has been stable for a while we now know how much to pull back out of HBD Savings each week to keep our existing Leases going.
We do have a number of leases through DLease which will start expiring soon. There are 5 in total and they will drop off 1 per week for the next 5 weeks or so. It is my hope that we can convert these Leases to Off-Market Handshake Deals like the bulk of our Leased power already is, but I am not confident. That means there might be a short opportunity for anyone to jump in and replace these expiring leases if they want to earn 13.5% APR for a few months. If so, please get in touch with me BEFORE delegating.
The basic Budget Calculations are as follows (apologies for the Math). Every week we have 678.21 HIVE to be paid to maintain our current Off-Market Leases. We also have 77.88 HIVE per week to pay for the expiring DLease Leases which are currently pre-paid but will ramp up over the next 5 weeks if we convert them to Off-Market Leases. That’s a total of 756.09 HIVE per week to maintain our HIVE Power which is currently sitting at around 368K. The new Power Down frees up 563.95 Staked HIVE per week so that’s a deficit of 756.09 minus 563.95 = 192.14 HIVE per week. That’s where the HBD Savings we squirrelled away over the last 13 weeks come in....
After paying the Delegators today we have 94.44 Liquid HIVE and $520 in HBD Savings to cover that Weekly Deficit. If HIVE stays around 35 cents that’s about 1,637 HIVE to shore up the next 12 weeks of Lease payments. 1,637 divided by 12 = 136.44 HIVE. That doesn’t quite cover our expected weekly deficit of 192.14 so we will probably need to taper off slightly. Regardless, we’ll likely run out of funds to maintain all of our current Leases some time in March. That is all according to plan because that’s about the time when we were potentially going to run our next Monster Raffle Fundraiser to fill up the coffers again.
All up, the SGS Community Curation Project is running fairly smoothly. It remains economically and technically stable and very manageable which is good news overall thanks to everyone who continues to support the project. STACK ON!