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This post is not financial advice. If you decide to follow what I am doing you do so at your own risk.
Did you know there are two types of buybacks we at UNICOIN engage in? If not, I am here to explain the difference so everyone has a better understanding. 🦄
Let's start with Scheduled Buybacks
These are often referred to as monthly buybacks or in the future quarterly buybacks. These take place every month/quarter. 5%+ of the circulating supply is bought back at a minimum of 1.01 Swap.Hive.
If these buybacks are monthly it's 5%+ of circulating supply. If it's quarterly it will be 15%+ or circulating supply, averaging 5%+ per month.
These are done on hive-engine/tribaldex. A buy order is placed and folks can sell back their tokens if they choose to do so. This is done on a first come, first serve basis.
Guaranteed Buybacks
This was mentioned in the whitepaper and in some other posts but I will explain it thoroughly here as well as give an example of how it will work.
Folks who hold more than 50 UNICOIN can request a guaranteed buyback at any time. These buybacks are set at 1 Hive/Swap.hive as they are done outside of the scheduled buybacks which are dependent on the income for the account.
It will take several weeks for the tokens to be bought back as a power down will be initiated. It may take 4-6 weeks possibly more if it's a large amount of tokens.
Here is an example of how it will work.
John Doe want to sell his 100 UNICOIN back to us. He will be instructed to place and order on hive-engine/tribaldex for 1 swap.hive while waiting for the power down. It's possible other folks may buy his tokens but if they do not, once the power down completes we at UNICOIN will buy whatever tokens remain out of the original 100. So if John Doe sells 20 on the market for 1 swap.hive each we will then buy the remaining 80 from him at the same price. He will be paid back in either Hive or swap.hive whichever we have on hand .This is our choice. We will not pay a fee to deposit Hive into Hive-engine for these buybacks but we may have swap.hive on hand. Also we use beeswap and sometimes you can earn more depositing hive or swap.hive depending on the liquidity. Pretty simple.
Important note, the guaranteed buybacks are limited to one time per person.
For example let's say John Doe decides to buy more UNICOIN after the guaranteed buyback and then requests a buyback again a few months later , we will not guarantee that buyback because he already exercised that right. This is to prevent abuse. Since the scheduled buybacks are done strategically for the longevity of the program, I do not want people abusing the system and using the guaranteed buyback for quick profit/token dump.
Once you have participated in the guaranteed buyback and then decide to obtain more tokens ,that risk is on you.
I do not know of any currently running tokens/tribes on Hive that guarantee buybacks at the original sale price. If you know of any, let me know.
The guaranteed buybacks are set to a 50 UNICOIN minimum because they take time/work etc and if you have less than that you can use the market. If we don't restrict this we could have folks wanting to have 5 or 10 tokens bought back and that's a waste of time/resources. Also you only get one guaranteed buyback so choose wisely.
That said if there is a legit reason or emergency etc and someone NEEDS to sell their tokens back a second time it will be considered but will not be guaranteed. This is a business. We already give away so much in HSBI(sometimes other tokens) bonuses, giveaway partnerships, promotions etc . We have to draw the line somewhere.
Having a guaranteed buyback is a privilege and no one else on Hive is offering this that I am aware of. It's certainly not standard
That said there will always be a guaranteed buyback option , no questions asked ,for folks who have more than 50 UNICOIN and have not used the guaranteed buyback option before. We can afford to do this because all tokens are backed by Hive holdings before mint, and only minted when needed. Regular burns also help keep the circulating supply low.
Just so we are clear, you can participate in however many scheduled buybacks you want without restriction -even if you have exercised your right to the guaranteed buyback. These are two separate things.