Trying to create a stable feeling Tribe token
For those who don't know, it is possible for anyone to create a Hive altcoin through Tribaldex. Just pay 100 BEE tokens and you too can issue your very own cryptocurrency. The much harder thing is to support it and make sure that it doesn't suck. Just look through the various offerings on the hive-engine and you will see many many dead coins.
The GLD coin started off as an ill informed decision
I will freely admit that the GLD coin was a good idea and a poor decision. It was created at the height of the Splinterlands craze as a "guild" coin to make our guild different than all the rest. A week or two later the price of cards cratered and the coin became irrelevant.
But I made a promise to the coin holders that I expected myself to keep
and that is when I learned the biggest lesson on Hive.
A reputation of trust is everything here
There is an awful lot of hype on the crypto world. There are a lot of broken promises. There is a lot of rubble from great ideas that crashed.
So how can GLD be structured to give it the best chance of success?
Start by understanding there are no certainties
- If HIVE dies GLD dies. No-one can change that.
- If hive-engine dies then GLD dies. Can't change that either.
But the coin can still have backing that makes it one of the last coins standing over time. Here is the backing behind the GLD coin as it sits.
Levels of support
- Every token held is backed by an asset
- Liquidity pool GLD/Hive
- Liquidity pool GLD/Swap.Ltc
- Trading bot on the hive-engine
- Personal website to allow for redemption at PEG
Backing
If you look at the information on the GLD coin on the Hive engine you will notice that there are only 75,000 coins minted and that it has a peg price of 0.01 HBD.
However if you were to look further you would find that only a tiny fraction of those 75,000 coins are held by individuals. The treasury holds most of the coins.
Even if every coin was distributed to individuals on Hive it would still be backed by HBD. 
Now perhaps you are doing some math and saying "But wait! 742 + 6 = 748"
750 HBD are required to fully back the coin! Which is true but
A little math:
- HBD locked (manual redemption if requested) -- $742 + $6 Liquid
- Hive Engine layer : 100 Hive committed -- 2% commited to buy twice daily
- Website for redemptions : Currently $3 HBD and 70 Hive plus 2000 GLD. Amounts will vary as redemptions and purchases happen.
- Liquidity Pools : 5 LTC committed with 27K GLD.
GLD has its value backed in multiple places at the 100:1 peg. Liquidity and multiple methods of exchange mean every transaction isn't guaranteed at 100:1
Hive Engine backing
Now the hive-engine is the layer which traditionally underpins every tribe token out there. If you make a tribe token and if someone wants to sell you see it on the hive-engine.
For GLD the biggest problem is that hive-engine will buy and sell based on HIVE. That is a huge pain for a token like GLD which values itself VS HBD. If hive-engine allowed a HBD/GLD pairing it would be super simple to just offer $0.01 HBD for 1 GLD and like magic it would be at peg all the time. Or at least a portion would be instant.
But that isn't how hive-engine works.
So there is a bot which will make a small buy order twice a day at a value calculated to simulate the 0.01 HBD to 1 GLD peg. The order book looks like this :
Will you reliably get the peg value here?
Honestly? No
Right now you would get more than the peg value here because the top bid is a little higher than peg. Also if HIVE tanks then the top buy order will be placed at the peg but the ones under it could be less valuable than the peg value.
The hive-engine order book isn't ideal and it has annoyed me forever as there is a stated peg but it is hard to keep using a counter asset which goes up and down like a yo-yo.
Also if you look at the order book it is only useful for small amounts of GLD (about 135) at this time. If you are eagle eyed you will notice that $1.35 isn't enough to put total backing over the $750 benchmark for total support of the coin.
But there is another backing layer.
Private Website and bot
If you want to reliably get the actual peg value there is a website for that.
https://gldtrader.netlify.app/
Look carefully and you will find it is possible to buy and sell the pairs of
- GLD : HBD
- GLD : Hive
And GLD : HBD is locked at 100:1 .. Full pegged value.
Even if the Hive-engine dies this does direct wallet to wallet transfer. It also calculates the instant rate to try and get a very close value for the GLD to HIVE value if you prefer to get actual HIVE.
And why would you want HIVE vs HBD?
There are many reasons but one of the biggest ones is that if you want to take money from the Hive chain you can't directly convert HBD to the LTC, DOGE, BTC of other "external chain friendly" coins.
But now GLD has that covered also with a liquidity pool.
GLD : Swap.LTC Bridge
For anyone who holds GLD tokens and wants to get value to an external crypto wallet? There is a bridge for that now on tribaldex.
5 full LTC is available for exchange and almost 28,000 GLD is locked into that pool. Considering the market cap of 75,000 more than a third of GLD tokens are sitting ties up in that pool. Add in a few more in the GLD : HIVE pool.
Liquidity pools aren't guaranteed at PEG. That's just out of the issuer control. However, it is currently holding the PEG value and it is a large enough pool that a fair trade is likely for most holders. Also it is as seamless a withdrawl method as the issuer could devise to allow GLD holders to get value quickly.
Final Thoughts
No tribe coin is bulletproof. Every project could vanish with a simple rug pull from the issuer. Many tribe tokens have limited liquidity and thin trading margins.
The GLD markets are thin as the capital is focused on making a return to pay out weekly distributions.
However:
The coin is BACKED with a fixed treasury.
The coin is PEGGED with a fixed redemption method.
The coin has LIQUIDITY with the liquidity pools
.... plus the liquidity pool allowed for EXTRACTION to LTC.... a historically trusted crypto.
Plus.. the hive-engine is supported for people who don't know there are other ways to get value from their GLD coin. Even if it isn't perfect.
In the crypto world the issuers can't GUARANTEE anything. Still, I like to think this shows a good faith effort to make sure no-one gets left holding a dead token.
So....
I told 
I hope I succeeded.
... But if anyone has ideas on how it could be better supported please let me know. I love comments and welcome ideas on how to make things better. Thanks for reading.