As creator of the GLD coin I think it should fall upon me to do the weekly update as to what is going on with the GLD Coin.
But
First: What does it stand for:
G - Generate (income)
L - Live life (use income)
D - Develop community.
Second: Where is it used:
It is to be used as the coin in the #earnspendgive community. Weekly rewards for the community will be given in the GLD token to people who write on the post prompt.
Third: Where do I buy or sell it?
It is on the hive-engine exchange but typically it is easier to buy and sell using the tribaldex.com liquidity pool between GLD and Swap.Hive
Fourth: Why should I buy it?
You shouldn't. Right now it is a token in development. If you want to hold the coin simply post quality content in the #earn spend give community and you can get the coin free. You could buy it but as I said, this isn't the time.
Fifth: What is its end use case scenario?
That's complicated. However, it is intended to be a reward coin for the #earnspendgive community. In the future it will also be used to purchase items made available for sale in the community but community won't be doing "regular" buy and sell transactions it will be more like staking coin for real world goods. In addition the goal is to purchase enough BEE tokens to create NFT's and distribute GLD to NFT holders.
Current state of the coin:
Initial Value from Tribaldex : 100 GLD = .635 Hive
Last week 100GLD = 0.79 Hive
This week 100 GLD = 1.157 Hive an increase of 46% for the week (which would be 2415% on annual basis...but.... don't expect that to repeat itself). The goal for the GLD token is to be pegged at roughly 100 GLD = 1 HIVE which would make GLD like a hive penny. The interest from the @hiveabbyftp account will be actively used to maintain the GLD/HIVE peg and increase the pool value to minimize price fluctuations over time.
This weeks rewards
This week 500 GLD is to be distributed to the five authors in #earnspendgive on the topic "Online shopping"
@rare-gem
@jjmusa2004
@monica-ene
@supernova004
@jmis101 (welcome back)
Will each be receiving 100 GLD token each.
This week the post prompt is "Credit cards" and again distributions will be made to all decent posts (or cross posts) on the topic in the #earnspendgive community.
This weeks purchases.
@terganftp was awarded 22.676 Leo coins for his delegation to @leo.voter
Those coins have been used to purchase 418 GLD coins for next weeks rewards to the #earnspendgive community.
In addition to that purchase @hiveabbyftp and @terganftp both received payout from their HBD savings. Those HBD were exchanged to swap.hive and used to purchase GLD tokens.
The long term goal is:
@terganftp will delegate his HP to @leo.voter to receive LEO tokens which will be exchanged for GLD tokens to be given as weekly rewards. IF the value of GLD is OVER 100:1 GLD:Hive then @terganftp opt to sell from his GLD stash to decrease the value of GLD in the liquidity pool.
@hiveabbyftp will use interest from HBD saving to either (a) prop up the price of the GLD token as was done this week. Or (b) add additional liquidity into the GLD:Swap.hive pool to decrease the price volatility from purchase and sales of the GLD coin. Or (c) Purchase HP to delegate to leo.voter or other curation pool in order to get more income for rewards to the #earnspendgive community.
Overall there are 40,000 tokens available
Of those 25,311 are currently available in the tribaldex.com liquidity pool. Which is valued at just over $170 HBD.
As for the richlist here is where the majority of the rest of the tokens reside:
Although it is likely that @tergan604, @merchantsguild, and @hiveabbyftp will send their tokens to @terganftp for safekeeping.
Thanks for taking a look at the update.
Until next week