APR at 17.4% thanks to big Burn
A couple of months ago, we have built a scalable burning mechanism for the CTPSB token. We actually build a liquidity position in the pool LEN:LENM. At the moment this burn account has the second biggest position in this pool with close to 10%. This position pays us daily rewards in the form of CTPSB tokens and swap.btc tokens among others.
From the swaps in the pool, the position is actually growing in value and the income is pretty stable. Every week, we burn the CTPSB tokens that we have received and every 4 to 6 weeks, we swap the swap.btc to swap.hive, then buy CTPSB tokens from the market, just to burn them.
More than 4x normal burn
This week, we decided to swap the swap.btc again. Normally, we burn around 0.7 CTPSB tokens per week. This week, thanks to what I call the big burn, we managed to burn a total of 4 CTPSB tokens. Bringing the total of burnt CTPSB tokens to 2028.
Thanks to this big burn, we have also managed to have a higher APR on the CTPSB tokens. For the last two weeks, the APR climbed to 17.4%. Which is the highest level since June 2024.
Burning tokens will bring the APR up consistently
The value of each CTPSB token is determined by the hive power on the @ctpsb account divided by the number of CTPSB tokens in circulation. Since the burning mechanisme has no effect on the growth of the hive power, it means that the same growth is opposed to an always smaller number of tokens. Thanks to that, the APR for the CTPSB token will grow faster and faster over time.
The numbers of this week
Learn more about the CTP Swarm Booster:
thanks for the update.
The approach is very good.
!PIZZA
!LOLZ
lolztoken.com
One more crack like that and I'll plaster you!
Credit: reddit
@ctpsb, I sent you an $LOLZ on behalf of imfarhad
(1/6)
Thanks a lot :-)
$PIZZA slices delivered:
@imfarhad(1/5) tipped @ctpsb
This is great! As the HP grows and CTPSB shrinks, we should see improved value between the two! Well done! !BBH
Exactly. The faster the account grows, or the faster we burn tokens, the faster APR will go up :-)
@ctpsb! @ironshield likes your content! so I just sent 1 BBH to your account on behalf of @ironshield. (6/100)
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!WINE
It's nice to see that the burns are working and increasing the value of the CTPSB tokens.
I like to see that APR is going up consistently lately. This means that things are working pretty well :-)