It's time to change and look for new opportunities for our beloved SORT token. SORT was born as a token to promote automatic raffles without having to do anything to participate other than own tokens. At the time, raffles on Hive were well-regarded; now they're underestimated. The goal was to raise significant resources to hold large raffles, but sales were scarce. We continued with the token, but with small prizes, as we believed we could increase its value. And so it was. Today, SORT is worth three times what it was when it started a couple of years ago.
This performance hasn't come from Hive rewards, which have always been meager, but from asset management. This is what we're really good at. So, that's what we're going to transform into: a passive-yield fund.
All the changes that will be implemented will be gradual, not immediate. This is what we can expect.
- Automatic draws will stop immediately.
- During this week, there will be a publication with the asset-backed value of the token.
- Since this is a major change to the token, the option to exit the token with buybacks at 2 Hive for one month will be offered. This is more than double the initial issuance value of 0.9 Hive.
- The HP delegation service will be maintained to receive SORT tokens at a discount to book value.
How will the new passive yield fund be invested?
- We will remain on Hive-engine, but the token will be pegged to USD instead of Hive.
- We will invest the funds in the Hive ecosystem, Solana, and Arbitrum.
- There will be publications tracking the investments and their performance.
If you have any suggestions or questions, please feel free to comment.