Currently, I am occupying the 155th place in the $ZING Richlist. I know that the list is very volatile, especially with the entry of some Hivians with big HP delegations. To motivate myself, I need to come up with a healthy competition. And since I cannot compete with those who already staked 10,000 plus $ZING, I decided to just check the HP delegation of the ten accounts above me.
Three accounts don't have HP delegation. Perhaps, they have huge $POSH holdings and that's why they reached this stage.
seckorama delegated the same amount of HP I delegated. And since she entered the game first, it is understandable that she will be ahead of me.
The other three accounts delegated bigger quantities of HP to @zingtoken:
nickelbunker delegated 2,900 HP
nathen007 delegated 3,000 HP, and
stever82 delegated 2,001 HP
Since I have a small account, I cannot compete with them.
Compared to the remaining four accounts, my delegation is higher so I expect within a week or two, I can catch up to them. Unless there will be more big delegators in the coming days, I think it is reasonable to expect that I can occupy the 151st place. Moving beyond that would require on my part to add more HP delegation.
A Useful Clarification about Earning Delegation Rewards
A day ago, @acidyo published Earning Zing. As I read it, his explanation answered the question I had in mind this morning. I was wondering why the delegation reward I received this morning was less than yesterday's. Unlike others who claim their rewards every hour, in my case, I do that if I am reminded of it but after around 10 p.m., I no longer check my Holozing account. I do that the following day. And so for almost a week now, the first thing I do in the morning is to claim my $ZING rewards. As you can see in the chart below, the decline is noticeable:
| Timestamp | Delegation Rewards |
|---|---|
| 5 days ago | 52.066 |
| 4 days ago | 37.920 and 33.621 (I claimed the rewards twice) |
| 3 days ago | 58.465 |
| 2 days ago | 53.555 |
| a day ago | 43.698 |
| 2 hours ago | 39.469 |
I think acidyo's explanation is very helpful:
The amount delegated to @zingtoken determines how much of the daily 200k Zing you receive.
Remember that there is a fixed number of $ZING delegation rewards per day and that the amount of HP delegation isn't fixed. So for me, that explains the change.
Currently at 2.1M HP Delegation, it means that users are receiving 0.095 Zing for every 1 Hive Power you delegate daily. This was of course different when the total Delegation amount was lower, meaning those delegating early have been able to earn more Zing (on top of Zing staking rewards).
If I understand this correctly, as the HP delegation increases, the amount of $ZING that every delegated HP will receive will decline.
The Stability of the Price of $ZING Token
One final observation about the price of the $ZING token. Again after checking the Richlist, I came up with a tentative conclusion that the difference in number between the strong holders and the potential sellers is insignificant.
I only checked 36 accounts that hold 4,000 $ZING tokens and above. These accounts are active on Hive and I am familiar with them. As for others, it's my first time to see them so I did not include them in my analysis.
Out of 36, there are 17 strong holders and 16 potential sellers. Strong holders are those who did not un-stake their tokens until now and they even participated in creating a liquidity pool.
Potential sellers, on the other hand, are those accounts that un-staked big. However, it doesn't mean that they will just dump them on the market. It only means that they hold a lot of liquid $ZING that they can sell anytime they find the price more profitable.
Only three are moderates. Maybe, they are just like me who un-staked a small amount just to test the market. A big portion of their $ZING is still staked. They are jongolson, libertycrypto27, and daltono.
The last but not the least is this new table below:
As you can see, there is only 170,000 liquid $ZING token at the moment available in the market. I was mistaken to think that I thought at first the staked amount would stop growing.
And so I interpret the above observations as an indication of price stability.