ALL SPI Club members - PLEASE READ pt2
Hello and welcome to this SPinvest post
SPinvest is a tokenized investment fund/club for all users of social blockchains. Everyone is welcome! The concept of SPinvest is to get rich slowly by using time tested methods of earning, saving and compounding long term. This lets SPinvest offer an ROI of 20% per year on SPI tokens. We encourage long term investing on and off the blockchain. We hope someday everyone will HODL some SPI tokens that can be bought directly from @spinvest are through the steem-engine are dex.steemleo exchanges.
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Club voting starts on Monday
Hello everyone, thank you to everyone that left some feedback in yesterdays post, its good to see that most confirmed members embrace the coming changes. Today we will be looking at what things need to be voted on and how the voting post will be formatted. If you need not see yesterdays post, i would advise you check it out before reading this one. Go get yourself coffee are beer and pull up a seat it.
The club voting post will be released this Monday the 27th and voting will last for 5 days ending at the stroke of midnight on the 24th GMT. I will personally hunt down confirmed members that have not taken part in the voting 2 days before the voting closes to ensure as many members are involved as possible. If your name is on the list below and you have not voted by Wednesday, I'll find you.
Ok, with a tight deadline to work on, let's get down to business and have a look at some the options we have. I will try my best to explain everything simply, my grammar is not the best.
Monday's Club Vote
This will be a multiple voting post meaning more than 1 decision will be made. This will ensure we get the best results because if all members take part, we get all members input on all options. The format will be multiple choice and based on voting weights. Let jump into our options.
1 - SPI token
Capping circulating supply
As explained in yesterdays post, tokens sale are dry and issuing 1 million was a nice idea. When the SPI token moves from steem-engine to hive-engine, tokens sales will cease and SPI tokens will become a deflationary asset meaning its circulating supply can only decrease. We will need to vote on capping and capping amounts. As examples
1- No capping and continue to sale
2- Airdrop new hive-engine SPI token at a 1-1 ratio and cap at 100k
3- Airdrop new hive-engine SPI token at a 5-1 ratio and cap at 500k
4- Airdrop new hive-engine SPI token at a 10-1 ratio and cap at million
Splitting at a higher ratio than 1-1 will dilute the value of each SPI token. Each investor would hold more SPI tokens at the same value
Stabilizing the SPI token price
Ever since the HIVE hard fork, it has been hard to give accurate pricing for the SPI token. Having a volatile price makes is different/impossible to offer a buyback deal and leaves a lot of investors not knowing what their SPI holding are worth. I would suggest that we look into some options to help us stabilize the SPI tokens price. The best way to great a stable token price is to run at on an average. All our HIVE wallet valuations are based on a 3-day average meaning they take the price of HIVE for the past 3 days and value your account on that average. This is why when HIVE jumps to over 50 cents and you hold 1000 HIVE, your account balance does not shoot up to $5000. We have a few options below to pick from.
1- No average, keep it as it is
2- Price SPI tokens on 3 days average
3- Price SPI tokens on 5 days average
4- Price SPI tokens on 7 days average
5- Price SPI tokens on 14 days average
This will encourage traders to hold SPI tokens and use them to make a profit based on the fact that they will know whether SPI token price is going to go are down in price 3,5,7 are 14 days in advance.
2 - Dividends
We need to pick a percentage of earnings to go toward paying out dividends, basic dividend payout structure how often they paid out. These are 3 main things to focus on.
Dividend Percentage
Spinvest will be aiming to earn around 500 HIVE per week after anything is sorted. A percentage of this will go towards paying dividends and the remaining will be transferred to the spinvest saving's wallet for off-platform investment. Dividend payments will be made with HIVE.
1- No dividend
2- 25% of HIVE earnings
3- 50% of HIVE earnings
4- 100% of HIVE earnings
How often should it be?
This is one is simple enough and explains itself. How often what you like to receive a dividend payment
1- Never
2- Daily
3- Weekly
4- Fortnightly
5- 4 weekly
Dividend tiers
This would suggest this we split the total dividend fund into different pools. 80% of issued SPI tokens are held by club members so the difference in payout would not be significant, more of a small bonus for investing, upvoting and supporting the project for the past 8 months.
As an example, we could have 70% going into an everybody pool, 20% into club members pool and 10% into a curators/content producers pool. If SPinvet's dividend fund was 500 STEEM. 350 STEEM would be shared between all token holders dependent on their holdings, 100 STEEM would be split between confirmed members depending on their holdings and 50 STEEM would be split curators/content producers depending on their holdings.
1- Make all dividends the same
2- Have a club members bonus
3- Have a club members bonus and curator/content producer bonus
3 - Earning's
Because a lot of SPinvest HIVE earning come in the form of HIVE POWER. Should we look into having a regular power down in place so that we can collect these earning in liquid HIVE. As a very rough example, SPinvest powers down 13k HIVE for a weekly power down payment of 1000 HIVE. Spinvest earns 100 HP every week from post payouts. When the power payment hits the account, 100 HIVE is kept liquid for dividend and off-platform funding. The remaining 900 is powered back up. This will ensure that 100% of earnings are going to the right place. This is a simple agree are don't agree
1- Agree to power down HIVE earnings
2- Don't agree to power down HIVE earnings
That's it for today
My time is up but there are 6 things that we need to decide on. Feel free to share the views and/are if there should be more things to consider and different options to pick from.
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Click here to join the SPinvest community over at beta.steemit.com (Steemit Communities)
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Posted Using LeoFinance
Cool Stuff, SSUK
Let's do it...
But I'd like to point out that having an average price means nothing, as far as the exchange goes... I do not think there is an existing mechanism out there that can price us in the hive market. It would have to be a custom script. Just having a moving average price gives us an 'idea' what our shares are worth. Nothing more.
The exchange price will be out of our hands. I was thinking more along the lines of being able to offer the 95% buy back again. I always get a few DM's from people looking to cash out when HIVE for example moons from 12 cent to 80 cents, lol.
With the bulk of the fund being invested into HIVE, working out a rough daily avg would only require tracking the HIVE price. After this is all sorted, i might start to use the spi-payments account to auto produce a daily SPI token price post. It'll be one of those same post everyday jobs but it'll collect some $ as well passively.
Yeah, Cool
If we just get the "average" right, and write it into the by-laws of the Club how it applies to cashing out, we can then come up with an equitable arrangement as far as that goes.
To start, I would like to remind you that you have been thinking about this for a long time but as @shanibeer mentioned, some of us are tuned out due to the pandemic and other factors. It might be more "fair" to wait a little. Still, here are my thoughts on the options you are giving.
Option 2, airdrop at 1:1
I would also suggest opening sales once per year, or having flash sales when new people want to join, etc.
Stabalizing token price: Keep it as is, which I think means backed by HIVE price with a cap on how many can be sold back on any given day (we only have so much liquid, right?)
Dividends - 50% of earnings, Paid out every 2 weeks (if sustainable). Once per month seems like less "work" for someone who is doing this on a volunteer basis. Dividend Tiers - Same for everyone, with a bonus for moderating, upvoting/writing articles, etc (a bit different than your options)
Agree to Hive Power Down of PROFITS.
The formatting of my answer is not as nice as I would like - but I think my answers are still clear.
And this is not the voting post (yet)
🤣🤣😉
Right - but I like to hear the opinions of others before voting.
I also like to make suggestions as to other options which we may have.
You are 1000%
Yeeep
Now is the time to discuss!
discord server
Ok, i understand things a rough at the minute for some people but for most being stuck in the house, this is a perfect time. I know that Shani is not feeling so good, but she is clued in and will understand things quicker than most so i hope she can fly through the voting post.
I like the idea of flash sales. Good thinking. SPinvest will have a few thousand extra tokens after the swap over to hive-engine and this could be an excellent way to use them. We will also need to decide what to do with 95% buyback, do we burn them are hold them for one of these flash sales.
The token price right now is backed by 75% HIVE, 2 weeks ago it was 37% HIVE. Stabalizing the token price will help us with the 95% buyback. A daily buyback cap is also a good idea, wish i thought of that 4 months ago, lmao. As more of our funds become off-platform investments, offering buybacks to anyone for any amount of tokens should be doable as it's easy for us to convert $100/$3000 of tether are BTC holdings to HIVE. In theory, after the STEEM power down is complete, we should be able to offer same day buybacks because off-platform investments are all liquid, no power downs.
50% dividend is what i was thinking. Payout is completely automatic, so every day are every year is the same work for me. The tiers you are suggesting would be the "everyone" and "curator/content producer bonus". I never thought of that option. I will need it add that into the voting post.
Your comment is formatted well, it's me your talking to not some official/nerd guy.
75% backed by hive is pretty solid. Glad to be there.
Do we know how many people want to sell their tokens? I know it varies.
Once we reach our cap, and we do a 95% buy back, we can offer the tokens we bought back to existing members at 100% so that we make a small profit, and let those of us who want to, keep building our investment.
Since paybacks are completely automatic, weekly payouts seem best to me.
On the tokens cap I would like to see the tokens held back so when the price of tokens goes up to a set amount of tokens would be sold at the new higher price, like when the token price hits say $2.00 5,000 more tokens are released then when its $3.00 another 5,000 are released. That way we have the option of selling more tokens in the long run.
As new people are coming onto Hive and learn about spi and the token price goes up we would have the option of selling more tokens.
just my 2 cents worth
Hey man, Thank for the feedback.
SPinvest will have a few thousand tokens left over after the airdrop is done. Metzli above had the idea of doing some flash token sales to feed new investors coming to the platform. I think i can pair her idea with yours and do a flash token sale when the SPI token hits certain prices. Great stuff
This will still mean a total cap of 100k. Nobody has bought from SPIvesnt directly for 7 weeks, new investors will buy from the exchange and hopefully an influx of new users could push the price up.
@qam2112
Circulating supply
10-1
Spi price
7 day average
Dividend %
50 %
Dividend payout
Weekly
Dividend tier
All the same
Earnings
Don't agree to power down
Reasoning
10-1 makes this a more exclusive club and will make each token more valuable. 1 million is way beyond us and we should concentrate on a smaller more profitable core group.
Anyone that wanted in is in, door has been open for coming up to a year everyone knows about it, so they are already in or choose not to be.
7 days may not be the most accurate however I don't except you to spend time every day working out a price hourly to be precise average is fine.
50% Dividends would allow the account to keep growing at a steady rate. I currently have a powerdown set to half what I earn so I am growing at a good rate and extracting profit at the same time.
Weekly payouts will be just right
Daily - the amounts won't be high enough to make them attractive and monthly is too long and you often lose buzz for things waiting that long.
Dividend tier would be in my favor being a member and in the top ten to have tiers but lets just treat everyone equally as there money and my money is exactly the same. Just coz I copied and pasted a membership post doesn't make my investment any more creditable than someone that didn't.
Powering down. No. Due to 2 reasons
First being account would stop growing and growth is always good.
Secondly and more importantly you don't want to upset the gatekeepers taking and not giving anything back won't go down well so 50/50 split should be acceptable.
Grow and earn 2 prong attack👍
Well stated, I do not agree with all but good points...
Excellent feedback, thank you
Club members are the ones that have built the fund, done much more than just copy/paste some text. I understand what you mean but from my view, i see club members as the driving force behind earnings from post payouts atm.
I'll try and get another post out this evening with whatever else can think about
Well explained and I fully agree. So I vote for the very same points:
Circulating supply: 10-1
Spi price: 7 day average
Dividend: 50 %
Dividend payout: Weekly
Dividend tier: All the same
Earnings: Don't agree to power down
Posted Using LeoFinance
Thank you
We just need a few others to think the same and we are good👍
I personally don't agree hive powerdown for profits but instead use this likwid service all post rewards will be paid after 7 days in liquid.
Hmm, that's could be the ticket. I only see the account posting about STEEM but they do HIVE, you could be onto something. 1% fee is ok.
Thanks for the nugget of wisdom my friend
If we get all post payouts in liquid, then our account will never grow, and small growth is part of the "get rich slow" mentality many of us signed up for.
Having every other post fully liquid is something I could get behind.
Shouldn't be the first question to vote on be: CAP yes or no?
I would expect that to be a club decision as well. So let's voet on that first. If the majrity wants to cap and stop further growth then all pointe to voet on you mentor above are in order.
But I'd like the decision to growth or not, to cap or not, to be a club decision as well.
Capping the token has nothing to do with growth. Growth will continue to come from HIVE earnings. Earnings are the same per token if we have 100k HIVE are 1 million HIVE
I understand looking to take votes slowly but the thing is we did about 10 things voted on. There is no chance that i can get every club member to take part in every vote. This results in some voting posts getting 2-3 votes and others that get 15+. When this happens, i get a lot of DM's from members saying they missed this are that vote and could i add them in which would be a no. Doing the questions in 1 go ensures that the maximum amount of members can do it 1 go. I would have thought this was much better compared to waiting 2-3 days between each vote and dragging the process out for weeks. You do understand that 10 votes for the same thing over 10 posts is 10 times the work for worse results. After a few weeks, i might have changed my mind on something that influences the current vote and it'll be to late to change it.
Sorry, i have just read that but over. I said like a dick but from my point of view, i want as many members to answer as many questions as possible. I can hunt people down on discord and HIVE.blog to make them answer the questions but i would not be doing that every week for single votes.
Like I said in the comment to the other post, I meant 'growth in numbers of SPI-tokens issued'.
I think capping comes to early. In a few months things will hopefully have settled down on the Steem->Hive transition front. In the last 6 months I used earning from Steem-engine to steadily buy some SPI-tokens (almost) every week. When things have settled down, I expect to again have the means to sustain buying some tokens every week. And that could be true for other club members as well. And if I'm wrong, nothing is lost from capping later in this year. The potential gain is growing numbers of issued tokens and thus a growing base of investment.
And I did not mean every question in this post should be a seperate vote. I did say: the first decision to be voted on is the question: cap now or later? cap yes or no?
If the answer to that vote is yes, then the questions of this post can all be done in one post, like you suggest.
How do you feel about a cap? Are you for it, or against it.
I would love to hear your opinion and the why behind it.
I think capping is too soon. There is nothing lost from waiting a few months I think (or perhaps some-one can explain to me what is lost if we don't cap now).
The potential benefit is that people start buying SPI-tokens again, club members and perhaps people new to the platform and new to the idea of SPI. If that potential does not materialize in the next 6 months or so, then it will be soon enough to cap.
Thanks for sharing your input. It is always nice to know what the other members are thinking.