Dieselpool Funding: A reviving decision for the SPORTS token - Fill your bags now while they're cheap
Hurrah! it's been three days I created contents here. I've been pretty crowded with some activities off the chain. we're still in the preparatory weeks for the new year and one of the paramount things to do for me is spiritual fortification. Hopefully, in the next few days, I'll be rolling out my financial and investment goals for the year 2022 having decided on the projects I will be embarking on this year.
While I was off, I had checked on @Patrickulrich's account for the pre-announced proposal that would give a new facelift to the sports tribe. Anyone that has followed my blog would know how dear the SPORTS token has been to my heart and how I whole-heartedly promote the community. My plans for the token is still in the incubation and sooner it'll come to limelight. The potency of sports sector to change the narrative of crypto is still imminent. The sector is proudly blessed with die-hard fans that can bring mas adoption to crypto. This and many more are the reasons that inform my interest in the SPORTS token.
The thumbnail for this post shows the SPORTS: SWAP.HIVE Defi pool on tribalDex. The screenshot shows how the pool keeps the SPORTS-HIVE rate at 0.00002564 HIVE per SPORTS. That is a slow decent from the initial 0.00004 HIVE per SPORTS rate which meant 100k SPORTS per 4 HIVE. The SPORTS-SWAP.HIVE pool with over 8k HIVE in the pool has kept the SPORTS market on Hive-engine way stronger. We that have been consistent with hodling and trading the SPORTS token could tell how bloody it bleeds each time HIVE makes a bull. However, with the help of the dieselpool, the SPORTS token rate has remain solid and even building supports for a bull run coming sooner.
From the above background, it has become very necessary to support the recent SPORTS Governance Proposal which covers SPORTS Account and Distribution Changes. As enshrined in the post, the key change in the SPORTS distribution that would be effected if the proposal passes is quoted below.
Distribution Changes
I would like to change our yearly inflation distribution in a way that would add up to 970,338,265 SPORTS to our supply each year. Those would be distributed as:
Content - 65% - 630,720,000/year
Token Fund - 35% - 339,618,265/year
That would allow us to still distribute 315,360,000 rewards/year to authors and another 315,360,000 of rewards/year to curators for providing the content that drives the ecosystem. The 35% allocated for the token fund would mean that we'd have enough to continue funding the 102.2M SPORTS to LP rewards for SWAP.HIVE while also leaving more available for allocating to other projects. - source
What is Hive?
Hive is an innovative and forward-looking decentralized blockchain and ecosystem, designed to scale with widespread adoption of the currency and platforms in mind. By combining the lightning-fast processing times and fee-less transactions, Hive is positioned to become one of the leading Web3 blockchains used by people around the world. source
What is Hive-Engine?
Hive-Engine is a smart contract platform on top of the Hive blockchain. It allows communities and businesses to build their own tokens, which are then built on top of the technology provided by Hive. This is the ultimate layer 2 solution. The token created on Hive-Engine is then immediately tradable with Hive on their exchange.
About me...
I am a called teacher, a serial entrepreneur and a Graduate of Agricultural Engineering. Nigeria is my root and a place full of opportunities. I dropped out of a Master's Degree programm due to funds, yet I do not regret growing the courage to start my business from the scratch. Today, I've built layers of Businesses on the Hive blockchain in terms of Curation and it's a sustainable passive way of earning crypto while learning.
I am your favourite Hive Tribes Promoter and Curapreneur!
I am @Uyobong.
Let's connect on Twitter
Posted Using LeoFinance Beta
Look, I am no moron, but what the fuck do these dieselpools do? Can I earn something by that?
You can! The pools allow you to provide liquidity for the tokens in the pool. Right now in SPORTS we have one pool (SPORTS:SWAP.HIVE) so anyone can put up equal portions of both tokens for others to trade against.
To encourage people to supply liquidity there are liquidity pool rewards. Right now 10% of the new SPORTS tokens that come in to circulation are being distributed into the SPORTS:SWAP.HIVE pool. To illustrate estimated earnings I put 100,000 SPORTS and 2.564 SWAP.HIVE into the pool just a moment ago. I'm estimated to be sent 31.480 SPORTS today for my 0.030% share of the SPORTS:SWAP.HIVE pool.
If the current proposal get approved then there will be more funds available for adding new pools. How those potential future pools will end up being funded will be up to stakeholders by voting on through our Token Fund Proposals. The new proposal will change our distribution from 90% content / 10% Token Fund to 65% content / 35% token fund.
Your content has been voted as a part of Encouragement program. Keep up the good work!
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
If the current proposal gets approved then we will very likely have new pools available against other assets since we'll have more token fund space to fund them. I imagine this will lead to many more SPORTS being locked up as fans of those cross pooled assets begin adding liquidity to the new pools in addition to the SWAP.HIVE pool.
I would like to see a system where we support two major liquidity tokens, SWAP.HIVE and SWAP.BTC with 140,000 SPORTS per day for each pool. I'd then like to see us start partnering with other communities like AFIT where we split rewarding those pools with the partner community. For those I'd like to see us offer up 70,000 SPORTS a day with the hope that other communities would partner with liquidity equal to 2.5% of our token inflation as well so those pools still add up to around the 5% we offer for major liquidity tokens that don't offer cross rewards. This would still leave plenty of token fund room available to fund other kinds of proposals beyond pool liquidity.
That's for the future though. For now I just want to get our proposal passed so that vision is possible.
Congratulations @uyobong! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 37000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz: