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This post is not financial advice. Information in this post is subject to change
whitepaper version 1 for full explaination
All UNICOIN tokens are backed by Hive holdings before they are minted.
What are UNICOIN-HSBI exchanges? It's a way for folks to trade their UNICOIN tokens for HSBI units and receive a 20% bonus
Users send Unicoin in increments of 5 and will receive 6 HSBI units. Send 10 UNICOIN receive 12 HSBI units etc.
At first the transactions will be limited to 10 UNICOIN per user each round of exchange events (likely once a month or as funds become available) There will also be a total cap of 100 UNICOINS exchanged per round at first .This may seem small but assuming 2k tokens sell at the pre sale this is 5% of the circulating supply.
To start is off I, @cryptounicorn420 pre funded the account and 120 Hive will be used for the first round. Subsequent rounds will be paid for mostly by post earnings and some earnings from delegations. In the future if these exchange events gain popularity they may partially be funded by power downs but that is a thing to discuss/consider in the future.
Exchange events / rounds . For now this will be available as an event, maybe something like the first or last week of the month, given funds are available. This is because these transactions are not automated yet and it helps keep things organized.
Yes, I am looking into automation, but there are other things to set up first and need to be sure the tip bot is fully functional before considering implementing that. Also this account needs a little time to grow. In the meantime it will all be done manually. Lucky me /s
There will be a post with budget, limits, instructions etc that explain everything. Each round/event may vary in terms of the amount of tokens available but I will try to keep it consistent /have a minimum budget.
Each exchange event will likely have limits of 10 UNICOIN per user per round (at first, will be adjusted) but if all the tokens budgeted for were not exchanged folks who already exchanged UNICOIN will be given the option to exchange more if the budget allows and if they choose to do so.
For example if only 8 people exchanged 10 UNICOIN there would still be a budget to exchange 20 UNICOIN for that round and folks who already exchanged would get the option to exchange more.This is the only fair way to do this that I can see. This way everyone gets the same opportunity.
It's probably a good idea to follow this account so you don't miss any exchange events or other stuff.
Looking ahead: Ideally in the future I want to build value bonus for HSBI units. I would like to increase the bonus amount paid or increase the amount of tokens that can be exchanged each round and likely will increase both as time goes on. I would love to be able to offer up to a 50% bonus for HSBI units but that will take time. These HSBI units are paid for upfront and that has to be a gradual increase . I am merely telling you what ideally I would like to do. It all depends on the earnings on this account.
Most likely I will expand the amount of tokens that can be exchanged each round first, then will start to look into increasing the bonuses for exchanging UNICOIN.I may put that up to a vote and let the community decide if they want to be able to exchange more UNICOIN or get bigger bonuses
Increases will be done very slowly. I never want to walk back any increases so in order to prevent that they will be rolled out slowly. Over time the earnings from HSBI will help fund more of these exchanges but again this is something that happens over time. This has to be rolled out slowly to be done right.
Keep in mind a large percentage of the UNICOIN exchanged for HSBI will be burned . This also depends on buybacks. If more folks participate in the HSBI exchanges than buybacks - a larger portion of tokens of the UNICOIN in the HSBI exchanges will be recycled put into the tip bot , some will be used for giveaways and promotions for distribution. It all is adjusted according to how the community transacts. Burns are great for the token economy in the long term.
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