Kickstart of the scalable burning mechanism
In our last post we introduced the concept of scalable burning. The idea is to build up a liquidity position in the LEN:LENM pool in order to earn CTPSB tokens as dividends in order to burn them. The difference to the previous mechanisme is that in the past the burning represented a decreasing value and with this new system, we would actually increase the burn value from week to week.
After some calculations, I realized that we would need to wait quite a long time until we manage to build something that really has an impact on the value of the token. That's why, we used some free funds to kickstart the process. Thanks to that, we have manage to get more than 3% of the liquidity in the pool already.
This will generate about 0.20$ worth of dividend each week. Among these rewards, there will be about 0.14 CTPSB generated each week to be burnt. So we are already about half way of the 0.3 CTPSB that we are burning so far. For the coming weeks, we will expand the position to reach something around 7% of the pool. Like that we would be close to generate the 0.3 CTPSB that we burnt previous to this implementation.
Once this point is reached. The income that the account generates will continue to build the liquidity position and all earned CTPSB will be burnt. With this process, we will continuously increase the weekly value of the tokens burnt and thereby, we will increase the value of CTPSB.
The numbers of this week
We had a very nice growth last week. The token value increased by 0.01 Hive over one week and the APR for the last two weeks is back above 16%.
Learn more about the CTP Swarm Booster:
Thanks for the update.
It's a good start i guess, reaching the required target will take some time, which is fine.
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Yes it will be a rather long process to increase the position until it really starts to have an impact on the price of CTPSB.
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Great work with the tokenomics! It is great being a Ctpsb holder!
Thanks man!
thank you for the update. nice to see the price of the token keep moving up.
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In a way the token value can only go up. The speed of the price growth can be increased by income and by burning.
Congrats on building up shares in the liquidity pool, this is a great opportunity to create more CTPSB scarcity. Are the other rewards burned or held or sold?
In the first phase the other rewards will be used to increase the position in the pool and at a later stage it will be used to buy more CTPSB to burn it.
Thanks! By "increase the position in the pool" that means selling the rewards and purchasing len and lenm to put more the pool?
The rewards will be used as follows:
CTPSB -> Burnt
LEN + Swap.BTC + Others -> purchase LEN and LENM to increase position
That is a very good strategy that will help the token a lot.
!ALIVE
@ctpsb! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ yeckingo1. (3/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
It will take some time to see the effects but in the long run I believe it will pay out.
!WINE
Every little bit helps out. I hope this works out better as it helps burn more and more over time.
Yes, that's the idea: to increase the amount of burnt tokens on a regular basis.
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