Greetings, community! Welcome to Our (almost) daily Report #8 & #9.
Well, first things first. Yesterday was Our first time missing a daily post. Things got wild IRL, and it was completely impossible for me to get it done. My apologies for that.
So here we are with a double post today 8 and 9.
Yesterday, we executed our first STARBITS purchase with the project's funds, as you can verify on the blockchain.
To compensate for my mistake of the day before yesterday, I added a 1.5 Million STARBITS purchase from my own pocket.
Since I missed yesterday's post and it's my fault again.
Here is how I'm going to make it right for the project and all who trust this initiative:
- Another Contribution: Today, another 1.5 Million STARBITS purchase from my own pocket as compensation.
- This Post is Worth Double: In 7 days, when we get the payout from this post, I will personally match 100% of the HBD and HIVE rewards it generates. Essentially, your vote on this post is worth twice as much for the burn!
Here’s the proof of today's 1.5M STARBITS purchase:
Now that we're up to date on what happened and how we're compensating for it, let's get back to the normal report.
The On-Chain Report (Posts 8 & 9)
Here is the breakdown of the conversions from our first two payouts.
Post #8 Transactions:
1. Rewards Received:
2. HBD to SWAP.HIVE:
3. SWAP.HIVE to STARBITS (SB):
Post #9 Transactions:
1. Rewards Received:
2. HBD to SWAP.HIVE:
3. SWAP.HIVE to STARBITS (SB):
Today Thoughts: A New Proposal
After all these transactions, we currently hold 7.6 Million STARBITS ready to burn. This makes me think about the best way to help Rising Star in the long term. I've considered what other projects are doing and have analyzed a few options:
- Buying NFTs from the market: This is good, but the STARBITS go to another player who might just dump them on the market again, neutralizing the effect.
- Burning STARBITS directly: We could send them to the graveyard, but since STARBITS aren't a limited token, this only provides half the benefit.
- Sending STARBITS to a project wallet: As @risingstar2 This is a much better option, as the funds can be used by Jux as he consider the best.
But what if there's a way to send STARBITS back to the game AND burn NFTs at the same time?
This led me to what I believe is the best possible option: Use the STARBITS to open packs.
With this method, the STARBITS go back into the game's economy (same as third idea), AND we get brand new NFTs that we can then send to the @rsgraveyard2 account. This would reduce the total supply of cards, creating scarcity and supporting card values. It feels like a win-win.
I would love to get feedback on this. Specifically, I'd like to ask @risingstargame:
- Can you confirm that this "Open Packs & Burn NFTs" method works as I think it does and if is indeed a good way to support the game?
- Since I'm a player and I can't have two accounts, would it be possible to get special permission for the @rs-burn-engine account to open packs for the sole purpose of transferring the resulting NFTs to the graveyard?
How Does The Engine Work?
Note: Our method is evolving based on the new proposal above!
- Publication & Support: Every day, this account will publish a transparent progress report. The community supports it with their votes.
- Fundraising & Purchase: 100% of the liquid post rewards (HBD) will be used to buy STARBITS directly from the market.
- Executing the Burn: Our proposed new method is to use the STARBITS to open card packs and then burn 100% of the NFTs received. We are awaiting feedback from the Rising Star team on this strategy.
- Verifiable Burn: All resulting NFTs will be sent to the @rsgraveyard2 account. This action is irreversible and permanently reduces the total NFT supply.
Join Us and Be the Fuel for this Engine!
This project only makes sense with community participation. Your support generates the rewards we use to power the burn.
- ⛽️ Follow the @rs-burn-engine account to never miss a report.
- 👍 Vote on this post. Remember, this one is worth double!
- 🔁 Reblog this post so our proposal can reach every corner of the community.
- 💬 Comment with your ideas, your feedback on our new strategy, and your support.
Thank you again for your trust and understanding. The engine is running, and with your help, we're finding the best ways to make it more powerful.
Please, support today's post to build up a strong fund for next week's burn!