A deflationary mechanism at just the right time... the Music Promoter marketplace has caught on with #RisingStar players, and the STARPRO token is giving Starbits a much-needed second wind!
I'm not sure if everyone has noticed what's been happening over the last week, but the value of #Starbits tokens has been slowly climbing... while HIVE, BTC and the crypto market as a whole was experiencing a general correction.
Sure, it has settled back down a bit in the last few days... but we're still up over $0.00025 right now.
Why the Sudden Starbits Bump?
It's simple, really. This strange and underappreciated phenomenon has coincided with the introduction of the "Music Promoter" marketplace on Rising Star-- and the STARPRO token!
In a nutshell, this token is earned by spending Starbits to promote missions. And it is used both: for players, to cover the costs for the new "Runner" cards to complete missions; and by players, to purchase these new Runner booster cards.
Aren't they sexy? Don't you want one of them now?
Yeah, me too! That's why I'm putting my time and Starbits into the Music Promoter auctions... I'm gonna get myself a PAULA card the honest way. It's cheaper than buying it on #LeoDEX right now anyway.
But Back to STARPRO...
I just explained to you exactly why this token is such a beneficial thing for the entire Rising Star ecosystem... did you catch it? Think about how we accumulate them-- by spending Starbits-- and what that does tokenomically.
Now consider the two different use cases I described: spending them to buy the Runner #NFTs, and burning them to cover the cost of the missions completed by the Runner cards. So what does all that tell you?
It's a Stabilizing Force for Starbits!
The word "deflation" tends to divide people in these financial discussions because the concept is often interpreted too literally, in my opinion. Deflation means the removal of currency from circulation, but I think it should be stretched to include mechanisms that reduce the flow of a token or currency.
So in this case, I would argue that the STARPRO token acts in a deflationary way by creating a steady flow of spent Starbits for the redistribution pool... thereby slowing the overall circulating supply. That’s why I call it “The StarPro Effect”.
And the two use cases I noted above are simultaneously acting as stability checks on the price of STARPRO itself: the desirable Runner cards are priced in STARPRO, so players will spend lots of them; and the weekly token burn-- which will only increase as more players use the Runner cards-- will curb (or deflate) the distribution.
If you want to get it straight from the horse's mouth (aka @risingstargame), take a minute to read THE POST detailing the first of these weekly burns. They managed to reach 37 STARPRO, which I think is an impressive starting point!
So although the price of both Starbits and STARPRO tokens are not necessarily impervious to the usual ebbs and flows of the crypto market-- or future player sentiment-- I really do believe this structure puts the Rising Star ecosystem in the best possible position to succeed and grow exponentially!
What's a Rising Star to Do?
I'll tell you what you should do! Make a habit of claiming a share of the daily STARPRO pool over in the Music Promotion arena. Even the tiny shares add up... you'll have enough for one of the Runner cards in no time.
So obviously get one of those when you've banked enough Starpro.
And that's it! Then you can do more missions, earn more Starbits-- which can then earn you more STARPRO-- and the ensuing snowball will get big enough to destroy fences and murder unsuspecting livestock.