Hello again, and welcome back to the very infrequent posting about INCOME synergy Fund! Today I have some updates and a recap of the whole project, maybe the longest fund-based Hive-Engine token around and one of the least known! Its a private fund that I run based on HIVE and HIVE-ENGINE plays, and a few off chain items. You can buy it on any hive-engine market. This is an entertainment project, all fund management techniques and terms like 'profit' and 'shares' are just because investing and profits are fun and entertaining. For entertainment only.
The most recent updates can be seen here:
Fund Portfolio Update March 10, 2022
PsyberX Fund position Update
Fund automation projects and New Roadmap
Fund Portfolio Update October 6, 2021
Fund Reorg, final swaps from STEEM
The development and holding of the fund is based on the @ecoinstats account. Each day a Hive Power Faucet is released as a post, and new users can comment on it to receive a share of the daily power up, currently 1 HIVE per day. Take a look if you are still struggling with RC.
We have made an update to one major piece of automation, around the daily payouts.
Completed Roadmap Item number 1
The top item on our roadmap was a way to expand the dividends program, which for the whole program's life has been lottery style, and in the end we have decided to scrap the lottery as a base and go with straight dividends. We are looking at how we may bring back a reduced lottery as a daily bonus, but for now, the divs go out daily in a 'linear' fashion, holders of greater than ~1.5 INCOME tokens will receive proportional divs each day.
This minimum amount of holding is based on rounding, and could change in the future with the changing of certain variables. If you are not getting entertainment divs, get another token or combine your tokens from your alt accounts.
This new update makes it really easy to adjust our daily divs amount, which we may want to do in the future. They are currently at 4 HIVE per day. There is always a debate about this, since the main goal of the fund is asset growth, if we give away too many divs we are driving down our ABV.
4 HIVE per day represents ~11.4% apr right now at a purchase price of 5.3 HIVE per token, the available price on the market. We are able to achieve this rather cheaply by excluding the largest investor in the fund, that is - me.
As mentioned in the past I personally hold the most tokens, and am willing to sell them, or sometimes swap them into promising projects. My personal funds and the SYNERGY funds do not mix, but of course I manage both with similar strategies.
But what price is fair for INCOME tokens?
This is a big question, and always a discussion. The value of the fund as an Asset Backed Value (ABV) is an option, but since this is an entertainment product, probably not the full answer. There are only 10,000 INCOME tokens, so this is a rather small, closed fund. Lets take a look at some unofficial numbers for ABV:
(next post will be an official ABV update)
Some Fund Items:
HP: 40,800 HP
HBD: 378.206 HBD (~756,4 HIVE)
HIVE SBI: 17204 units (8602 HIVE)
HIVE-Engine Estimates: 21716 HIVE (leodex estimate)
LP: $118 (~236 HIVE)
ECOBANK: SYNERGY FUND has sent in 1652 SWAP.BUSD for the presale, giving us the right to ~1501.818 tokens. (presale value ~3304 HIVE)
RadaQuest - we have a founders stake in the RadaQuest game on Wax (value - ???; lgny.wam)
STEEM SBI - yes we still have a bit of this, been slowly moving it over, will probably make the transition absolute very soon (~800 HIVE)
Totals: 76214 HIVE; 7.62 HIVE per token (ABV)
This is an unofficial ABV for the purposes of the fund, but it is very near our last ABV in March, although the distribution of the portfolio is very different.
Buy Backs
I am continuing to host liquidity from my personal fund as buybacks. While I am selling new tokens at 5.3, I am currently buying back at 4.55 HIVE. The new daily divs represent 13.28% APR on the sell price, and 11.4% apr on the buy price.
HP power-ups continue!
The fifth goal of the previous roadmap was to continue to power up HP and we have done it!
At that time, November 12th of last year, we had just completed 25,000 Hive Power, now we have over 40,000 Hive Power! I think in the short term I will keep looking to power up as Hive Power is the long-term backbone of our fund.
Currently we are delegating out much of our HIVE power, but as we power up more I will be looking to adjust those numbers and add another benefit to holding INCOME, one of being on our @ecoinstats auto-voter. This task will go on the roadmap as a new item.
Other road map items
-I still need to work on updating the dCity Digest post, there have been many changes and now is a good time to update this to keep it fresh.
-Increasing the faucet reach has happened naturally, there are usually 3-5 users who are using it each day. I will look to do a promotion of the project and expand the daily powerup soon. We even have one user sharing about the faucet daily on twitter - thanks @johndieo
https://twitter.com/JohnLuha1/status/1531153114622939137
- JohnLuha1
-I have kept the updating of ABV numbers more frequent. I have a possible plan to use those numbers within the next few months, so I will be doing a new ABV update sometime this summer before the 6 months runs out.
And that's it for our old roadmap! Honestly there is not much left to do, we will probably complete it shortly (within the next few months) and then it will be on to a new roadmap.
This is the end of the update - do you have any questions? Leave them for me in the comments!