Forgive me if I have left a bit of extra time since the last update post about LABFUND, I was letting the previous program run, which was a claim on our assets buy turning in LABFUND tokens - it has been a full month and the days keep counting.
Everything is going well, and probably after this post you might, if you are thinking about it, realize why I waited so long. This post will now break the claim program....
Claim is now closed!
This is perhaps unneccessary, since it has clearly become uneconomical to do it. Let's take a look at our city's value to see how we are doing:
City (NFT) value: 31793192 SIM
SIM on-hand: 149891 SIM
Market bids: 190320 SIM
ARMERO: 1329 ARMERO
LABFUND: 2451.74
So our total SIM value is 32133403, which at current SIM prices of ~0.00038 HIVE/SIM is equal to 12210.69 HIVE.
You may also notice that by buybacks and claimbacks, @superlab has 24% of the LABFUND supply, meaning there are only ~7548.26 LABFUND outstanding, making each one worth ~1.617 HIVE. We also have 1329 ARMERO on hand, more on that later.
Consolidation
January is the third month of the LABFUND project, and during the past month+ of consolidation, I have been quite happy with the results.
On the one hand, there is a certain temptation to convert the fund over time into ARMERO tokens, which certainly is what we will do. @superlab is one of the top ranked (#4) War Shares holders as well as tax rebate cities, meaning we are ranking highly on INCOME ranking rewards.
In the mean time, the price of SIM is up over 25%, we are sitting well off with out money printer. There is no need to rush into anything, the city will continue to pay us dividends for time to come.
Operations
We continue to operate bids ('the floor' on citizens) for a few markets, after removing the floor for about a month. It is interesting to watch markets, and whatever happens, usually I am watching and learning from the reactions of everyone.
We continue to do experiments when sufficiently cheap citizens land in our city, and some of these are successful!
We also manage a large civilian population, meaning we need to manage retirement homes and bones or we get big punishments. So we have invested in some education to help print the Advanced Prayer tech cards we will be needing.
But over time, our population will continue to die out, I think we can likely maintain a balance by maintaining our bids on the market, and keeping a floor under some of the most unloved citizens.
Flows and upcoming ARMERO drop
In our current phase, we will be looking to build up to another drop of ARMERO token within Q1 of 2023, hopefully as much as 1 ARMERO per LABFUND. ARMERO has become a growing powerhouse, a combination city that is the top SIM rebate holder, and is a growing contender in other aspects of gameplay.
For those of you that have held the ARMERO token, you have enjoyed several dividends already, and with the increase in the SIM price, the valuation of each ARMERO token has grown to something like 0.285 HIVE.
Keep holding if you believe in the mission! Make your offers on the market if not.
Freedom and Friendship
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