February 2024 : 8th update (now monthly)
Quick Stats : (From Tribadex.com)
Pool Value $188.265 HBD
- 278.2 Hive
- 28,056 GLD
1 Hive = 100.25 GLD
Note: Last month the shown value was roughly $160 the current value of $188.265 is a nice increase over the past month.
About the GLD coin:
What does it stand for:
G - Generate (income)
L - Live life (use income)
D - Develop community.
Where is it used:
It is to be used as the coin in the #earnspendgive community. Weekly rewards for the community will be given in the GLD token to people who write on the post prompt respond to the weekly update. Once members hit 1000 GLD I'll switch their reward to HIVE unless directed to keep using GLD token.
Where do I buy or sell it?
hive-engine or
tribaldex
Between the two I'll recommend using tribaldex. On hive-engine I'll keep up an ongoing buy order at 0.009 HIVE : GLD, at the liquidity pool it is much closer to 100:1. I mention this because I'll keep an order open on the hive-engine but the liquidity pool will give you a better rate and is more liquid.
Should I buy it?
Your call. It is a coin I'm ramping up for an upcoming project. I do not have a staking reward option for the coin yet. However starting on January 1st I started paying out a 1% monthly (12% annually). It's still young and will not get great rewards but if you feel like supporting the #earnspendgive community feel free to buy the coin.
If you are buying the coin I'd suggest looking at hive-engine. I will be offering newly minted coins at a 100GLD : 1 HIVE ratio.
What is its end use case scenario?
This coin will be used to reward members in the Earn Spend Give Community. There is also a plan being worked on to use it as a bridge currency between Hive and a Permaculture project I'm working on with a couple other members. It is still in the discussion stage but things are progressing.
Current state of the coin:
The value of the coin is holding roughly steady keeping its peg at 100 GLD to 1 Hive. It is my intention to actively work to maintain that peg by either issuing new coin (decrease value) or purchase coin from tribaldex (increase value). I'll be monitoring the value of the coin monthly when HBD rewards come due.
Top Holders / GLD Held / Reward :
| Holder | GLD | Reward |
|---|---|---|
| -------- | -------- | -------- |
| @jjmusa2004 | 1,520 | 0.152Hive |
| @rare-gem | 1,410 | 0.141Hive |
| @monica-ene | 1,100 | 0.11 Hive |
| @supernova004 | 611 | 6 GLD |
| @emreal | 495 | 5 GLD |
| @lightpen | 444 | 4 GLD |
| @jmis101 | 333 | 3 GLD |
| @henrietta27 | 322 | 3 GLD |
| @gwajnberg | 251 | 3 GLD |
| @johnny023 | 212 | 2 GLD |
| @dlmmqb | 101 | 1 GLD |
Total6799
NOTE For those people with over 1000 GLD I'll be giving HIVE rewards unless asked to give rewards at GLD token.
Holdings & Income
This month money was added into both Hive Power and HBD
- 2711 HP has been purchased to cover all the GLD tokens issued
- 2309 HBD has been purchased to generate income
- 1700 HP has been delegated to generate income
With the new year I have thought hard about how much I should be holding in different assets.
Going forward I intend to :
- Purchase and Stake Hive power sufficient to cover all issued GLD tokens at a rate of 100:1. Completed
With 6799 GLD tokens issued I expect to have at least 67.99 Hive as collateral to cover those tokens with the current amount being 2711
- Increase staked HBD.
This month I added $500 CAD to the account which amounted to $329 HBD
That brings the current HBD stake up to $2,309 HBD. ($2500 CAD added this year)
The goal is to increase staked HBD up to an amount of $5,000HBD by the end of 2024 by adding $500CAD monthly until the goal is reached.
- Use of HBD interest.
Each month the interest from the staked HBD will be cashed out and used as follows
- First: Support the GLD liquidity pool if its value goes under the 100:1 peg
- Second: To purchase additional HIVE to allow payments to those holding the coin.
- Third: Stake any HIVE left over to allow for curation / delegation rewards to further support the coin and community.
Issuing new GLD coin.
As additional Hive is staked in the account additional GLD tokens will be issued. The goal is to make sure that there is at least 1 staked HIVE for every 100 GLD in circulation. I'm also hoping to stake at least 10 HIVE monthly so I can collect and support Hive Power Up Day.
Additional Liquidity to tribaldex pool
I will admit I'm not too sure how much liquidity I should have in the GLD:swap.hive liquidity pool. However, with only 6799 coins in circulation and 29,000/288HIVE coins in the liquidity pool I'm not worried about increasing the value of the liquidity pool at this time. The liquidity pool is far larger than outstanding coins and even the largest holder could liquidate without issue.
That's it for the update.
Special thanks for all the members of #earnspendgive I haven't had the time to look after the community this month due to other obligations. I'll be back soon...God Willing :)