More Actifit Updates! Actifit.io AFIT Price Market Based Now. Free Tier AFIT Move To Exchanges. More AFIT Rewards On Signup.

in Actifit7 days ago

We are happy to provide another round of updates to your actifit experience.
We are continuously listening to your feedback, and on the lookout for ways to enhance and grow actifit, to make it ready for mass adoption.

Actifit.io AFIT Price Market Based Now

We have had the AFIT price pegged to a set value on actifit.io wallet for a long while. This was a cause of confusion for a lot of our users, and as we believe in market's perception of the token, we find now is the proper time to remove the peg and make the pricing as dynamic as the market wants it to be.

Hence we have now officially made changes across actifit.io experience and valuation so as your AFIT tokens are completely based on market price as found on last price provided via hive-engine.com.

Free Tier AFIT Move To Exchanges

As part of this update, we have also introduced a new "free tier" to be able to move around your earned AFIT to the exchanges.
Previously, for any AFIT move to hive-engine.com, you had to hold some AFITX. This is no longer the case for up to 300 AFIT daily.

image.png

For any amount above 300 AFIT, the prior rule still applies, whereby you will need to hold 1 AFITX for every 100 extra AFIT you want to move.
Keep in mind those moves are automated and take place daily at 11 AM UTC.

More AFIT Rewards On Signup

As part of adjusting the AFIT price on actifit.io, we have also bumped up the rewards to new signups via actifit
As of now, new signups will earn 1000 AFIT free tokens for their current investment of 2$ paid in HIVE/STEEM, alongside the delegation they receive for 3 months.
For every 5$ invested, you earn 1000 extra AFIT.

image.png

New Tiers For Exchanging AFIT

Exchanging AFIT is one of the highly used features in actifit wallet. The price change affected above required making adjustments to this feature.
So as of now, the prior 5/10/15/20 AFIT tiers have been swapped for new tiers of 500/1000/1500/2000 AFIT tiers, which accordingly reflect on the actifit additional vote reward on both HIVE/STEEM (if your posts go to both).
We believe this makes more sense in accordance with the new AFIT price, while providing additional value and constraining requests to users with enough AFIT balance.

image.png


Did you stock up on your gadgets yet? Head over to Actifit Market NOW to WIN!

Support our witness on Hive, vote for us or set us as proxy on actifit profile, via peakd, or hive blog.

@actifit team

Sort:  

As for letting the market based AFIT prices I see no harm in that, but the other idea is terrible.
I understand that the price increase of 10000% goes without any rise of voting power. You stated you believe this makes more sense in accordance with new AFIT price... But believe me it does not. You make a rise from 20 to 2000, which makes the whole thing uneconomical.
The current value AFIT exchange vote is about 0.45$ while the current AFIT price for 2k is about 0.41$ - I hope you grasp my point.
This change will bring only decrease in AFIT value and see no reason to do that. More AFIT will be directed to exchanges (combined with the new free tier).
Also, now it only makes sense to hold afitx to dump as much AFIT as possible before others...
I feel cheated as a holder of 1 AFITX that already have lost 30% of its value

hey @sk1920, thank you for the feedback!

I had just responded to @reeta0119 below with some further details, feel free to check which could answer some of your points.

To reiterate and responde to some of your points, in terms of AFIT price, not sure how you calculated the 10000%, we actually adjusted the required amount of AFIT x 100, which approximately matches the prior pegged AFIT value vs current market value (0.012$ v/s 0.00018 as of yesterday).

In terms of using the exchange to sell v/s upvote value, the current AFIT exchange volume is somewhat low which could cause slippage while you are selling your AFIT, with upvotes you are actually definitely getting better value for your AFIT.

Keep in mind for AFITX priority holding, the process has not changed when exchanging AFIT, and you are still getting the extra priority upvote treatement as before per every voting cycle, so your AFITX holding is still playing the same positive role as before.

We will contiuously keep an eye on the dynamics in the coming few weeks to see the effects those adjustments have, and take proper decisions accordingly.

And thank you again for your feedback, you are always welcome to provide further feedback/suggestions, you can chat to us on discord as well and we are happy to discuss further thoughts together for the best of actifit and its community.

Hi @mcfarhat
currently, the actifit priority votes value is about $0.40 worth, and if I need to spend the same value of AFIT tokens then what's the point of holding so many AFITX? If I can get a similar value of an upvote by spending AFIT token then I don't see any benefits and I doubt this will contribute to a dip in afitx price because people will start selling.
this might help AFIT price to grow but this will affect negatively for AFITX and even holding will reduce. These days most of afitx holders are here to get priority upvote and if its on the market price it does not make sense.

That's what I've been sayin

hi @sk1920
yeah. let @actifit team reply about it. Waiting for their response.

hey @reeta0119, thank you for the feedback!

I think there is some confusion about what changed. The process for AFITX holders is still the same as before. AFITX holders get a priority vote for 1 post for every voting cycle. Nothing changed on that end. Other users will need to wait for their turn in the queue so that they received their extra vote after some time.

What changed is actually the amount of AFIT being swapped. Before you were swapping smaller amounts of AFIT (5->20), now due to price being adjusted this was adjusted to (500->2000) - This is an almost exact matching of prior fixed AFIT value to approx current market value.

Which is why based on above we do not believe this should have any negative effects on AFITX pricing, while having positive effects on AFIT price as well.

We will be monitoring the dynamics in the coming few weeks and taking proper decisions accordingly.
We are happy to hear further feedback from you and discuss accordingly. We try to always improve actifit with the best vision for the project and the community, so thanks again for sharing your thoughts!

Hi @mcfarhat

Thanks for the reply. Appreciate it.

I share more of my working on this. Earlier I used to swap 20 tokens daily in a month it is 600 approx and I have a holding of over 200$ of AFITX tokens just to get this priority upvote. Since @actifit is voting my post with not more than $0.60 vote value (mostly between $0.50-0.60 so considering a 50/50 reward I get 1 HIVE daily and since these days price is down so on higher side 1 get 1.5 HIVE max. which comes as 45 or I even take it monthly earning of 60 hives from actifit through priority upvote. this 60 is quite high with 2 hives of daily income multiple of 30 days. 600 AFIT is quite minimal and I can ignore it.

Now in the current scenario, I have done my calculation that I have to spend 60k AFIT tokens and in the current scenario and these are worth 70 hives in hive-engine. here is the HE snapshot-

image.png

Now to get an earning of 60 HIVE I need to spend AFIT tokens worth 70 HIVE and for that too I need to be on the top 25 AFIX holders that easily require a minimum of 150$ investment.

Can you please check and share your thoughts about it if I missed something. Thanks.

hey @reeta0119,

Thanks for the detailed explanation.

Yes while I agree it definitely got costlier to reserve the spot as you highlighted, there are couple of essential things though you might have missed and that we took into consideration while proceeding:

  • First a portion of the AFIT is actually coming from posting reports, voting & delegation rewards our users earn with every post/daily. So while buying tokens might have become costlier (and AFIT price accordingly, which is positive thing though, since project investors would love to see the token price rise :) ), yet most probably you do not need to buy a good portion of the tokens, since they are being earned.
  • Second, for many users who are posting actifit reports on both hive and steem, the rewards are much higher since actifit is sending out the extra vote boost on both chains, so that adds to the value being received as extra rewards monthly by 30-50%.
  • Third, and which relates to both points above, delegation rewards actually span both chains, so earning extra AFIT occurs daily on both chains.

Essentially and in a nutshell, this whole change aims at making AFIT token circulation and demand much higher, which I believe is the target of actifit community and hence leading to further growth and adoption.
I hope those points make it clearer about our initial consideration for the change.
And as I mentioned in my earlier response, we will keep a close eye on the dynamics and profitability of this whole process for our users, as we want to ensure our users and particularly premium ones with a large AFITX holding are actually getting the best out of their actifit experience.

Please do ping me here or preferably on actifit discord to review and continue this discussion, always happy to answer your inquiries or listen to your feedback/suggestions.

This is all well I guess but when will we be able to spend our AFIT on real products? You talk about mass adoption then get some real decent products in the store we can purchase.

tuche mate!

Thanks for the feedback @j85063!

I recall we had a chat recently about this, back then i promised some changes to actifit market, and we recently introduced the HIVE payment option and the contest.

We have a large pipeline of potential signups for real products/service providers to the market, and i am very optimistic about those coming to fruition sooner than later.

Thanks again, let's keep this conversation ongoing, and if you find any room or potential to help as an active and avid member of the community that we very much appreciate, you are always welcome to do so!

Be great to have some real products available in the actifit market. Any ideas on possible time frame for item's to start be available?

Now that actifit is focusing on market prices we will now need to get the value to something that is attractive for users. Getting actifit wrapped on ETH, TRON and EOS may be a good place to start and having it listed on various exchanges and drain some of the liquidity into other chains.

Also would like to see the app have more of the site's features so you can explore report and run native ads using something like admob then users can spend more time in the app, generate revenue for actifit and that can be used to do token buy backs like LEO is doing :)

Collecting actifit is fun for sure, but I'm sure we can make it more fun and more use cases

Very good ideas👍

Thanks @chekohler for the great feedback.

I think it was you we had a quick chat about wAFIT on discord? if not then yes we are definitely considering this and other options.
A new app version is indeed under works, we are trying to include as much functionality as possible in upcoming swift update(s).
We already do our own versions of AFIT buy backs as well as token burn, this is continuously taking places on hive-engine via actifit funds and actifit gadget draw prize share, but also when buying gadgets via AFIT.

This is the type of feedback we are continuously looking for, thanks again.

Lol no it wasn't me but glad to see more people thinking along the same lines. Looking forward to the app updates, I really think this project just needs a few more tweaks to get it running, exposing it to the ETH world is for sure a good place to start.

Yes, the buyback project I'm sure has helped eat into tokens, hope to see that in the app too and perhaps premium features like creating a workout schedule and having to burn tokens to do so.

Or access to work out guides for a few tokens, that would be cool

All the best with the next batch of updates

The idea of wrapping AFIT is unrealistic, to be polite. It takes far too big initial investment... Unless you have 50k$ USD lying around for start. After raising decent pool you need to draw investors in and the changes mentioned in the main post will decrease the AFIT value thus will result in the opposite.

Apart from that, the idea of developing new app features or introducing some non-intrusive adverts might actually be a good idea. This creates some privacy concerns (especially if any ads are going to be introduced to mobile apps).

The move to market prices was always better, there is only 5 million Actifit in circulation that's a very small amount it won't take much HIVE to eat through the order book, you'll be surprised at how quickly you can shoot up the token value and marketcap. Yes you would need some outside investment but LYMPHO does the same thing as actiit on ETH and it's not been great and they had an ICO to raise funds, they currently at a market cap of $1,588,304 USD so I think there is appetite to invest in a project of this kind

As for the ads I'd say they can either make it opt-in or make it that you need to stake a certain amount lets say for argument's sake 20 000 tokens and you don't see ads, that gives you an incentive to hold the price up and not dump tokens but also earns revenue from those not staking and wanting to dump evening out demand

As for the ads I'd say they can either make it opt-in or make it that you need to stake a certain amount lets say for argument's sake 20 000 tokens and you don't see ads, that gives you an incentive to hold the price up and not dump tokens but also earns revenue from those not staking and wanting to dump evening out demand

+1 👍

Fantastic update and these will certainly help actifitters to have even better experience with @actifit

Have the Afit rewards also been adjusted? Or will we still earning 50 Afit-ish pr post?

And spending more Afit on upvotes wouldn't that reduce +levels to the rank?