The first TULIP Mania Game is now over!
Below are details about how to exchange your TULIP tokens for STEEMP.
I am publishing this just a few hours early as I think it will make no difference; there is very little activity and there is no chance of us reaching the next game price-point. It does, however, give me a few extra hours to sort out the early traders who wish to cash out.
Before that, I mentioned yesterday a "surprise". If you go back and read our Game Rules, you will notice that the final price has a bonus added on the last day. Using SteemWorld, we can estimate the earnings coming in over the next 7 days and have added them to our grand total - this comes to an extra 19 STEEM.
So, for those players who knowingly held on to their TULIPS till the end, well done!
All earnings due from this post onwards will be powered up as SP for the next game.
The closing numbers are: there are now 197,300 tokens active and a total fund value of 1,844 STEEM (+24 STEEM from yesterday), giving a final token value, or ABV, of 0.009346 STEEM.
The final cashing out value of your TULIP tokens is 0.009346 STEEM.
This is the value you will see on our official buy orders - where we buy the TULIPS back from you.
How to cash out your TULIPS
Firstly, there is no way to pause a market on Steem Engine and hence no way for me to stop players trading, so it's pointless having any rules about this that I cannot enforce. You will also see some price-points removed and a large "sell wall" erected; this is to minimise any disruption to the buy-back process.
It is up to you to sell your TULIPS. This cashing out process is scheduled to take 7 days. After that time, I am under no obligation to carry on buying back TULIPS at the closing price; you can keep them for the next game or you may find someone willing to buy them at a lower price.
To sell your TULIPS just go to the TULIP market and in there you can do one of two things: you can click on the Highest Bid price and sell at that price; or, if that looks low, you can create your own Open Sell Order at our official closing price. If the latter, then it will be filled as soon as we have STEEMP available.
Please note that we have 1,844 STEEM-worth of tokens to process. This takes time, as we do not hold that much in liquid funds. If we held all funds as liquid STEEMP then we would have made a much lower profit for the 28 days.
If this cashing out process is disrupted in any way, then we can revert to paying out off-market. In this case you would transfer your tokens back to @Busbecq, who will then send you STEEMP at the official price. This is more manual work for me, so is not my first choice method, but if necessary will do so. Keep up to date with announcements during the next 7 days.
How well did the TULIP fund do?
Well, although the game is supposed to last 28 days, we had to tag on extra days due to post-HF21 issues and we also have 7 more days of rewards coming in, so overall the 28 days has yielded a bit more in profits than just the game days.
Day 1 of these games is always volatile, so the first ABV was published on Day 2 and was 0.736 STEEM cents. From there to our closing 0.935 STEEM cents, we therefore made a profit of 0.183 cents, equivalent to 24.3%, or 317% APR. Not bad for a short trading game!
Your own profit will be either higher or lower than this, but as we did not reach the 0.970 cents price-point, I think everyone will have made a profit.
Another game will start in a few days, but before then we will start a new ADDAX game, so follow the @addax account for news of the start.
If you have any questions, read the text again first - then feel free to ask.
Thanks for playing!
ONECENT: The First Strategic Token Investment Game (STIG)