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This post is not financial advice. If you decide to follow what I'm doing, you do so at your own risk.
Ok let's get to the (small) "bad" news: I will not meet the goal for burns this month .Close, but not quite there. That's not really bad news as I will explain in a moment
Current circulating supply: 960.5
Current HP: 1513.25
HP is about 1.6X the circulating supply
That is still one hell of a ratio. Also remember this is not counting all assets including liquid HIVE and hive-engine holdings. I expect to burn another 10-15 or tokens by the end of the month.
Now the reason why the goal is not met is actually good. I came across a sponsorship/partnership(TBA soon) and needed 20 UNICOIN that I took from the burn pile. This is exactly as designed. I don't have to mint new tokens I just recycled existing ones.
This sponsorship is with someone I have an existing relationship/friendship with and I think you guys will like it. I will wait for him to make the announcement. This will serve as a sort of advertisement for UNICOIN for several weeks, and longer term . I just could only spare 20 this month, but next month is just around the corner.
REMINDER: HSBI exchanges starting in July will be mostly done on Discord at any time during the month.The limit is 15 UNICOIN exchanged for 18 HSBI per account. If you are not on discord you can comment on any post and let me know you'd like to exchange. The minimum is 5 UNICOIN exchanged for 6 HSBI. That is the lowest amount we can pay the 20% bonus for since there are no partial HSBI units.
The buybacks will be in the first two weeks of July, after the 4th. I haven't set an exact date yet. I am working on transitioning the buybacks to being quarterly, that will likely start in October. Quarterly buybacks will be 15% of the circulating supply-still 5% per month.
Also the buyback price is increasing from 1.01 swap.hive to 1.015. I can only pay that if there aren't any sell listings below that otherwise the system will give me the best price regardless of what I bid. It's not an issue, just explaining.
Speaking of UNICOIN my main account has about 44 UNCOIN. I may buyback some of those outside the scheduled buybacks. I will also be exchanging some for HSBI. This is because I purchased those with my personal funds and I want to start paying myself back in UNICOIN starting next month. If I have an existing balance that could get confusing to some. I want to clear those out first then start paying myself back, as I have explained in pervious posts (I am paying myself back some of the funds I used to start this account in UNICOIN slowly over time). Just want to let y'all know what I'm doing and why.
Before I start paying myself back I will have a final number for how many I will pay back over time. Most of those are just going to be exchanged for HSBI eventually. I also may buy some back from myself if the supply gets low and I need tokens for partnerships, promotions , etc. I'd rather do that than mint new tokens. Token mints will only be when absolutely necessary.
The regular burns are working as designed to reduce the circulating supply.
Between the tip bot and the burn account and the market account we hold about 15% of the total supply not including my personal account. Soon @null will be the biggest hodler. Despite that I am still calculating the total circulating supply for buybacks to buyback the maximum amount of tokens. I really hope in the future buybacks will increase in quantity. We aren't there yet but moving closer every day.
I also plan to burn more tokens next month as the tip bot is well stocked for now. That can change at any time but for now we have plenty to cover new delegations and uses of the tip bot.
One more thing I am considering is to keep a small open buy order for slightly less than 1 swap.hive in case folks want to sell for less. I am seeing a little of that. Maybe I will put an order for like 10 UNICOIN per month under 1 swap.hive in addition to the buybacks at over 1 swap.hive. It's easier than me doing that on my main account especially once I start paying myself back.
❤️🦄