Big news for the CTPSB project
Lately I've analized different projects on the Hive blockchain and little by little a new idea formed in my head. It's not the contest that I was speaking about in the last update, this will come a bit later.
The situation today
At the moment the token owners profit from a very high APR in part also because of the amazing delegations that people give to the project. The CTPSB token is growing at a rate above 50% per year which is great I believe.
The delegators to this project however don't really profit from it if they don't also own some CTPSB tokens.
The @ctpsb account also generates value in Hive-Engine tokens like CTP, LEO, Neoxian, Archon thanks to curation rewards. The @ctpsb account has become the biggest CTP account thanks to the delegations that it has recieved. At the moment the earned tokens are simply staked on the account.
In order to encourage people to delegate even more Hive to the @ctpsb account, from now on the delegators will get paid in CTP tokens!
I will let all the earned Hive-Engine tokens on the account and once per week, distribute 50% of these tokens to the delegators according to the size of their delegation. The remaining 50% will be staked on the account.
Since the delegators will be paid in CTP, the other Hive-Engine tokens will be sold on the market and with the resulting hive, we will buy CTP tokens to send to the delegators.
The advantages of this idea
For the delegators
From now on delegators not only support the community and the token holders, they get rewarded for it in CTP tokens. I believe it's a great incentive for them to delegate even more.
For the token holders
Since people have an incentive to delegate even more Hive to the project, the chances to get new delegations increases. This will allow to have even a better APR than what we have now since delegations leverage the curation rewards.
For CTP token holders
Most of us are strongly attached to the CTP community and its token. With this idea we will use 50% of all the curation rewards in any Hive-Engine tokens to actually buy CTP tokens! This will create a demand for the token and probably will lead to higher CTP prices in the future. The more curation rewards the @ctpsb account can generate the more CTP tokens it will be able to buy and the more the price will increase. The higher the CTP price and the more volume the token gets, the more interesting it will become for investors and delegators. Therefore they might be more interested in delegating the the @ctpsb account to get more CTP tokens!
For content creators
More delegations, more stakes means that the upvote value of the @ctpsb account will grow even more. Therefore you will get higher upvotes on your posts and also higher rewards in other tokens.
I believe it's a very positive cycle that would profit all of us.
How will it be implemented ?
At the moment the stake of most coins is still quite small, therefore in the beginning the distribution will be mainly done in the CTP tokens that are generated by the account.
The dividends will be paid manually once a week. To calculate the dividend, I will take the percentage of each delegation in the total amount of delegations and split the dividends accordingly.
How you can contribute to this
You can directly help to kickstart this idea and by doing so help to increase the dividends that delegators get and support the ctp price.
Check your Hive-Engine account and look at the tokens that you have laying there. If there are some idle tokens that you don't use, either send or delegate them to @ctpsb. We are looking mainly at the following stakable tokens:
Hope you like this idea?
I believe that this idea can only make winners within the project and I hope you like it. If you feel however that this doesn't go in the correct direction please feel free to tell me.
Learn more about the CTP Swarm Booster: