Hello ….
As a confirmed of Spinvest I will writing this post to inform you that changes will be happening to SPinvest including its current operating model, the amount of tokens that can be issued and introducing a dividend payments for token holders.
As STEEM/HIVE users, we are still recovering and building from the HIVE hardfork that took place last month while also facing one of the worst recession’s the world has ever seen with COVID-19 spreading around the world and the shutting down large amounts of global economies. It is also predicted that it will take years for things to get back to normal. My situation right now is I have been on lockdown for 4 weeks with no date soon to return to work. I have the time to set this up and make it happen. I personally have lost complete faith in both STEEM and HIVE as good long term investments, I’m not going into detail, let’s just say I don’t feel it anymore. HIVE has good earning value from HP but I don’t ever see it going above 50 cent. I hope I’m wrong as I plan to continue and HODL my personal HIVE stack just in case.
SPinvest has not sold any tokens for weeks and I mean weeks, check the SPI token transactions history on steem-engine. The chances of ever issuing 1 million SPI tokens are a slim to none right now. It was a big goal but I think it’s time to give up on issuing a million tokens. We are not bringing in new token holders are members to the club. Steemit and Hive.blog have a very small volume of active users and the people that are on board already have been so for months. We have maxed out and I think that it is time to move on. We already have the best members we are going to get so there is no point in trying to push a larger club/community. It’s a nice idea but when push comes to shove we’re here to make money from SPinvest. We have been posting daily for over 8 months, I think most people that would be interested in a project like this would have already heard of SPinvest and already be invested in tokens. Steemit/Hive.blog is not a big place.
So, we have our club of confirmed members, token holders, we have no sales, no activity and $30k worth of assets. What do we do?
MAKE IT PASSIVE!! – sit back and let it work for us
The time to sell SPI tokens has ended whether we like it are not. I would love to issue 1 million but it’s just not happening and having sold almost 100k in 6 months is still an achievement we can be proud of. The plan for SPinvest was when we issued 1 million tokens; we would change the model to include dividends. I’m suggesting that we fast forward and make this change now. This would include creating a new hive-engine token, cease issuing new tokens, paying out dividends to token holders using an automated POH model and provide trading opportunities through planned token growth.
I have spoken with a few different members about this with some mixed feedback, mostly liking the idea. Below is my ballpark version of the new model, it is still blurry needing finer details but I’m sure after a few club votes, the picture will become more clear.
• Capped SPI tokens – We can do this a few different ways. We can cap circulating supply at 100k, we can issue the new hive-engine token at a 10-1 ratio which would get 1 million issued and each token being worth 1/10th of what they are now. They might be more liquid priced cheaper. Capping tokens will be helpful with token price growth.
• Hive-Power – This is earnings SPinvest makes from its HIVE POWER balance, daily posts, tribe accounts and gaming accounts. The suggestion is to split this 50/50 but this is just a suggestion and can be decided by members.
• Off-platform – We currently hold Bitcoin and Tether that are paying us out interest payments in crypto and we had some HODL investments. Off platforms investments would be 100% growth as is now. So, no change really.
• Dividend payments – Those will be paid out either every week are every 4 weeks. Daily is ok but it’s better to receive payments worth more than a pot noodle. Payments would be paid in HIVE from the spi-payments account to every SPI token holder dependent on how many tokens have held over a 30 day average.
• Token price growth – With 100% of SPI tokens issued and circulating, the supply can only go down through token burns. This will cause some scarcity and as earnings come in from Hive Power and off platform holdings, the token price can only increase as the fund becomes worth more.
How will this all happen?
I would like to have this all done within the next 2 weeks, I mean done and dusted by 15th May at the latest. I understand not everybody is online and blogging is the last thing some people are thinking about but the time to do this is now. With the hard fork just taking place, us having almost 100k tokens issued, not issuing new tokens for 6 weeks, 1 new confirmed members in the past 4 months and having the fund value double with our airdropped HIVE tokens, it’s time to move on and turn this thing into what’s it’s supposed to be. This is the SPinvest end goal.
After doing a few votes to iron out finer details, I think voters will have to be mutable things at once. This means we do not get results of 3-4 voters on 1 voting post and 15+ on another. SPinvest will create the SPI hive-engine token, snap the token holder's list and airdrop the new hive-engine SPI tokens according to whatever ratio we decide. After this airdrop, there will be no more new SPI tokens ever issued. The value/backing from steem-engine SPI tokens will swap over the hive-engine SPI tokens. Steem-engine SPI tokens will become sort of worthless after the airdrop.
SPinvest will continue to post daily to provide information, investment content and generate income. 50% of all HIVE related earnings will be sent weekly to spi-payments to pay out dividends to SPI tokens holders. The POH (Proof of Holding) model we are using will be set up to distribute to total HIVE balance of spi-payments to SPI tokens holders based on their average token holdings over the past 30 days. The other 50% will be transferred to the spinvest saving wallet for later off-platform investment.
Looking into the future, I think we have a good club already, small but a lot of smart people with the common goal of long term growth. I say, close off the club and at this point, your either in are out and when you sell all your tokens, you’re out. Maybe hard but it incentive’s to the idea of long term HODLing. Club members are the token holders that are most invested both in terms of dollars and time. I would like to offer a bonus to club members without having to worry about people confirming only to get the bonus. 90% of confirmed members have been around from at least week 6, so would I be wrong in suggesting a larger dividend payment for confirmed club members are content producers? Nothing huge but something as a thank you for getting us to where we are today and I also know the support will keep coming.
When SPinvest has fully powered down and converted all its STEEM holdings into other investments, the 95% buyback SPI token offering will be restarted. Having funds off-platform will provide as with more liquidity. We need to have some sort of stable SPI token price before we can offer the buyback deal. We never saw the hard fork and having to swap over core backing token coming.
Honestly, content that will be uploaded by SPinvest will become very copy/pasted if you know what I mean. I do plan to write 2-3 decent posts per week to include reports, club votes, etc. but what’s the point when the pay-outs are frankly the same and comments always some 2-3 people. Thanks to the 2-3 commenters that always do comment but the hope is to see new commenters. I plan to spend more time exploring SPinvest’s HIVE earning through games, NTF’s and passive paying projects. This will be much more fun and profitable for us compared to trying to think new ways to issue more tokens and fight against a brick wall. We could make all these changes without having to cap the circulating supply but it’s nice to have closure will provide us with a more stable token price growth.
Anyways, I’m sure there is a lot of stuff I have left out but that what I can think of right now. This is something I have been thinking about since the hard fork, I am sure some of you are aware that I sort of gave up for awhile a few weeks back but onwards and upwards. It just a bump in the road, plus we got airdropped over $10k worth of tokens so I really have nothing to cry about. I said before but I’ll say it again. I personally have no faith that either STEEM are HIVE will be top 200 tokens in 5 years’ time. SPinvest is starting to move its funds off-platform but holding onto its HIVE balance can produce more income for us than we lose I think long term. I think SPinvest can make 1000 HIVE per week by playing games, using it balance to get on leaders boards, trading NFT’s (safe), being involved with the best paying projects, daily content and tribe tokens.
The wrap-up, that’s what has been rolling around in my mind the past few months. The idea is mostly mine but 5-6 members have had some input through ideas shared with me over the past few weeks. Mainly JK to be honest but I’ve not spoken about it much and the reason for this document. Thank you for taking the time to write through this. I hope most of it made sense and the visual helps, took me 20 minutes to do that, lol.
Let me know what you think
silverstackeruk
Club Voting begins on Monday
Posted via Steemleo