The ZING token is the in-game token of the new and upcoming game on Hive, Holozing. The token has been live for a few months now and its distribution is ongoing and slowly taking shape.
The game itself has not launched yet, although there is a dedicated web for it with multiple features already built in.
There seems to was a small break in the game development but lately things started moving again.
The ZING token was announced in October 2023 and shortly after started with its distribution. At first reward were given out for the following:
- HP delegations
- ZING staking
- POSH holdings
- Liquidity providers
A total of 300k daily ZING tokens were set to be distributed.
The rewards for POSH holders ended in February 2024. Later when the game is live there will be more ways to distribute tokens, mainly for playing the game. More info in the official whitepaper https://whitepaper.holozing.com/.
Here we will be looking at:
- Daily issued
- Supply
- Top Earners
- Staked supply
- Liquid vs Staked
- Top Stakers
- Price
The period that we will be looking at is from October 2023 to August 2024.
Daily Issued Tokens
How many ZING tokens are issued daily? From what category? Here is the chart.
The amount of daily distributed tokens is a bit lower than the 300k projected ones. The HP delegations is the main way for tokens distribution, followed by liquidity rewards and then staking ZING.
When we add the above the current token supply looks like this:
A straight line up, since there are no changes in the emissions in the first months, but soon this line will become less inclined since the POSH rewards will stop. At the moment there is close to 80M ZING tokens in circulation, somewhere around 8.5M have been issued on a monthly level, and on a yearly basis this number will reach 100M.
Top Earners in 2024
Who has been earning the most in the period? Here is the chart.
@vcelier is on the top here with almost 4.6M tokens earned in 2024, followed by the @acidyo and @tarazkp. The top earners all have more than 1M tokens.
Note that the liquidity providers rewards LPs are not included above. The way that they are distributed by the HE contract is not recorded on chain and I can’t get that data. All the other ways of distribution, delegation, staking and POSH are included.
Staked Supply
What about staking? What percentage of the distributed tokens are still staked?
We can notice that staking has been constantly high in the period. From the very beginning of the token distribution. There are LP rewards, so even the tokens that are not staked, a big part of them are locked in the liquidity pool.
In the last weeks we can notice there has been more unstaking.
On a monthly basis the staking looks like this:
We can see that in most of the months the staking is positive and in the range of 4M to 8M. In August 2024 the staking is slightly negative for the first time.
Note that all the rewards, except for LPs are distributed as staked tokens, so the majority of the tokens are entering in circulation as staked tokens. Still from the chart we can notice that a lot of them remain staked and users are not unstaking.
Share of Staked Supply
The current share of the staked ZING tokens is as follows:
A 75% of the tokens staked. A 60M out of the total 80M of the current supply. Out of the rest 20M, 10M are in the liquidity pool.
Top Accounts that Staked ZING
Who has been staking the most.
A screenshot from beeswap.
In terms of staking @acidyo is on the top with 9M staked ZING, followed by @vcelier with 5M and @x30 3M.
Price
At the end the price. How has it been holding in the period? Here is the chart in HIVE.
At the very start the price was quite high, but this is to be expected, as the supply was non-existent, nobody had any tokens, no team allocation, no presale, and the APR for all the pools were high so users rushed in.
Afterwards the price stabilized between 0.003 HIVE.
The token is still in early distribution and there will be a lot more tokens put in circulation in the following years. But even with this it is worth noting that at the current prices the market cap of the project is below 100k. So, if executed properly, there is a lot of room to grow.
All the best
@dalz