HELIOS is still awesome, but lost some shine

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I wrote a few days ago that I thought things were going to get interesting now that there are no more HELIOS tokens left to issue. As I predicted things have gotten interesting

After buying a bunch of tokens HELIOS is now trading in a narrow band around 0.537 Hive per Helios. Considerably higher than where it was just yesterday morning at 0.17. The base price has almost tripled!

When the base price triples a lot less HELIOS need to be burned for a maximum upvote. Yesterday morning is was close to burning 56 HELIOS for a maximum upvote. When I looked this morning it was only 20.4 HELIOS needing to be burnt. That means that I need to burn only one-third the amount of HELIOS tokens!

The Price increase is helping

Overall a higher price for HELIOS has been very beneficial. All those tokens I got when the price was low are now more valuable to burn so I can keep my stash of tokens for longer.

However it is not all good news

Now that there are no more HELIOS tokens to print the HELIOS distribution to those people delegating to Hive account@helios.voter are no longer available. Before a delegation to Hive account@helios.voter would get you weekly HIVE and daily HELIOS. Now there is just the weekly HIVE payout. To be certain the HIVE payout at almost 13% is very generous for the delegation reward but no more HELIOS is a little sad.

But it was to be expected

The point is that before major delegators would get large sums of HELIOS every day. Many of them just dumped the HELIOS tokens and it sent the price of the coin spiraling downward. That sucked. Also while lots of HELIOS were being dumped for cheap it would be very difficult to support a floor price (like Hive account@hiveabbyftp did yesterday) as all those daily tokens just overload the support level.

Which is why running out of coins to print made all the difference.

Currently there is still a 15% payout for those people who are top holders of the HELIOS token. 15% return just for holding HELIOS is actually quite generous. However, compared to the 20% for delegation the tokens emitted are much much smaller and much much less likely to destabilize the price of the coin. The buy wall can absorb the 10's of coins that are being emitted daily now. It would not have been able to absorb the hundreds of coins that were being emitted before.

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Where does the coin go from here?

That is hard to say. I will be watching carefully to see what happens. If people keep buying to get their burn upvotes in there will be increasingly tight supply and higher prices. Once the emission of HELIOS for token holders dries up then tokens will become even more scarce and again even higher prices.

The one thing to watch out for is delegations to the Hive account@helios.voter .. currently there are a few large delegators. If those delegators go elsewhere now that it isn't as lucrative to delegate to the voter? That could put a wrench in the HELIOS token price. However, I doubt you will find a more generous delegation return than what is received currently so I'm hoping that the voter keeps going strong for months to come. At least until I've burned thought all the HELIOS that I've stockpiled.

Time will tell of course. Thanks for reading :)