Image is of a screenshot of tokens that I burned yesterday
This post is not financial advice. If you decide to follow what I am doing you so so at your own risk.
Before I get to the burn, I want to announce that the next HSBI exchange will be on Wednesday. Discord folks will receive an early access to it right after this post goes live.
This s burn is not much only 2 UNICOIN this time. However, I will be doing a bigger burn and posting it on my main account @cryptounicorn420 in a couple of days. I plan to post 2 burns a week on that account this month.
So far 25 UNICOIN have been burned which is about 2.3% of the minted supply (1048). That's really good considering this is a brand new project. More burns planned this month. The goal is to burn 100 tokens-(posting partner burns included in this total). that will bring the total burned to minted percent to 10-12%+
Of course that number is going to go up and down. As new tokens are minted the percentage goes down, as more burns take place that number will go up. I hope to keep that percentage above 10, but it may fluctuate a bit the next month or so.
Long term that percentage is going to reach 50% plus, but that is going to take time .Eventually there will be more tokens burned than minted/in circulation. That's how the system is designed.
Tokens are recycled first, placed into the tip bot account and distributed to partners before being sent to the burn account . Not all tokens in the burn account are burned. The burn account is also a holding account for tokens for partners and other promotions /sponsorships etc.
The tip bot should be funded for several months by the time the HSBI exchanges and buybacks are competed this month. It already is , but there will be more added, probably about 40% increase in tokens in that account. I expect that account to have over 100 tokens which at the current rates of distribution will last quite a while. It's also a good buffer in case we get more delegations come in and more folks use the tip bot, there are enough tokens to cover it until the curation rewards come in and new tokens need to be minted.
I will distribute some more UNICOIN to posting partners after the HSBI exchange.
I still have no plans to mint any tokens this month, that will only happen if there is a huge increase in delegators/tip bot users. This is one reason why I expanded the HSBI exchange this month is to get more tokens for the bot and to burn.
So far as the HSBI exchanges I have over delivered. 5% of circulating supply is the minimum but the exchanges are averaging more like 10-15%. That will go down a bit next month but I will do my best to keep it above 5% of circulating supply.
Teaser/spoiler: the goal is to increase and have HSBI exchanges at 10% of circulating supply each monthly round, but I am thinking of transitioning to doing the exchanges every other month or quarterly (not until at least August/September) and those exchanges will be a little bigger. This all depends on the earnings on this account, delegations and all that fun stuff. But the goal is to increase the HSBI exchanges percentage wise as much as possible without over extending the account.
It's all about sustainability and balance here.
I also am deciding to not count my personal HSBI exchanges with everyone else's .It's not fair because obviously I am the first to know when the exchanges will happen. So my exchanges will come from this account obviously but it will not count in the official budget. For example this next round up to 10 people can exchange 15 UNICOIN for HSBI (total 150 UNICOIN exchanged). I already exchanged my 15 UNICOIN this month. This is the only fair way I can think to do this since the exchanges are first come first serve.
The tokens I have on that account I purchased on the market. I will likely start paying myself back in July, that is TBD. There's good arbitrage opportunities on the market right now (I plan to make a more detailed post on that soon) , especially for folks doing the HSBI exchanges . I don't mind buying the tokens on my personal account and benefiting from that.
Payback will be slow. likely less than 50 tokens a month to start. It all depends on account earnings, available supply etc.
Magic Number
This month I am doing a push and burning a good chunk of tokens. I ran some numbers and between posting the burns on my main account and some posts here I estimate on the low end that will generate 60 Hive equivalent (HP and HBD). On the higher end it will be closer to 80. For the month.
If I repeat the amount of posts but burn less next month as I am planning to do then I will burn probably like 40 tokens and receive 60-80 Hive equivalent. That means for the moment burn posts should pay for the buybacks on their own. That's huge. I won't always do posts this frequently but for the next couple of months it's a good strategy to help build the account.
Remember all tokens burned like all tokens minted are already paid for. Earning anything on these posts is a huge bonus.
I also am limiting it to 2 burn posts a week per account to not be spammy. I also may do some giveaways in these posts, maybe give away one token to raise the value of the posts (value to the Hive community I mean). I'm already giving away UNICOIN on my main and giveaway account.