BYT: Blurt Yield Token Launch

The Blurt Yield Token (BYT) is a new Hive-Engine token designed to yield passive rewards to token-holders.

Whether you are active on the Blurt social media platform, or not, your BYT holdings will be earning while you sleep.

With automatic compounding and an asset-backed price, the BYT program is designed to yield significant and sustainable rewards.

Read on for full details...

Quick Guide (TLDR)

Holding BYT tokens will yield a weekly return plus potential price appreciation.
Weekly rewards are distributed in BYT tokens every Monday. The first distribution will be on 13 September 2021.
Members can thus auto-compound or sell on market.
Only 100,000 BYT for sale this round. Rewards will print more tokens whereas buybacks will remove tokens from being active.
Regular posts will include data on the value of the whole fund (NAV) and the official price of each BYT.
This BYT Round 1 lasts 180 days. A vote by members will then determine whether to liquidate the fund or roll-over into Round 2.
That's it!
Passive and profitable.

How BYT Works

The process is very simple. Members buy BYT tokens from the Hive-Engine market and receive a weekly distribution of profits in BYT proportional to their active holdings compared to the total active tokens. Active holdings exclude those tokens placed for sale on the market. This gives members the option to auto-compound their earnings or to sell the tokens on market. It also reduces fees and the non-earning monies needed to fund other forms of distributions - this means more of the program value is used to generate profits.

There will only be 100,000 BYT tokens available for sale. The initial fixed price is of 1 HIVE, but some tokens have been placed at a discount and a premium. At current market prices, this is approximately equivalent to 10 million BLURT. Distributed tokens will be created weekly on top of this cap, while tokens bought back will be removed from the market. Just 2,000 BYT (2%) have been set aside for marketing and development. This is a one-off charge that will not be made in any future rounds. All other tokens held by admins or devs have been purchased.

Profit distributions shall be done every Monday and a post shall highlight the activities for the previous week. As BYT tokens are priced in HIVE, profits shall be calculated using the average exchange rate for BLURT/HIVE from Hive-Engine, Probit and Ionomy.

Such weekly posts shall include the net asset value (NAV) of the BYT program and an estimate of the token value. Because of currency fluctuations, this value may be volatile even though profits may be stable. We may post more frequently to keep members informed.

The administration account @blurtyield will not receive any distributions based on tokens held, but shall receive a 10% fee from the weekly profits, paid in BLURT. The costs of managing the program shall be taken from such fees. All BYT tokens held by the administration are not active and are not included in any calculation of the fund value.

We aim to keep about 10% of the fund value within the Hive ecosystem for faster management such as buybacks. We reserve the right to use those funds to gain further income for the program.

The BYT Round 1 program has a fixed term of 180 days. The market shall open on 1 September 2021 and the fund profits calculated until Monday 28 February 2022. Before that date, members will be asked to vote on whether to close and liquidate the fund or roll-over into Round 2. We have experience of such token liquidations and the process can be very smooth so long as all members are paying attention. If the decision is made to close, given the process of powering down, this should not take longer than one month.

Further Comments

A very similar fund, ONECENT, was run some time ago on Steem, so the dynamics and tokenomics of this program have already been tested. From experience, many members just buy, hold and accumulate profits over the period of the program. If the program closes after the first round, there will be a final closing value for the BYT token and the process of unwinding can take about one month for all members to convert their tokens back into HIVE.

Our target is a return of about 25-50% APR. It could be much higher than this as income can come from multiple sources. However, please be aware of the currency fluctuation risks involved. It is possible for tokens to decrease in price due to circumstances beyond our control.

Should the program need to close before the end of a round, then all assets will be distributed back to token holders on a proportional basis through buybacks. We are not responsible for any technical issues arising from the platforms being used but will always aim to safeguard the value of member funds.

I am sure that some people will ask whether we can do a direct swap of BLURT coins for BYT tokens. The short answer is: No. It is important to use the markets and the existing flows of coins. I will post about the various options. If it can be shown that some automated swaps would be useful, then we can investigate their feasibility. The reason why this is a closed program with a time limit is precisely to experiment in real life as to which types of systems will be most effective and sustainable in the longer term.

Any questions, please ask. Popular questions may be added to a general FAQ.

One Last Thing...

The BYT market already exists, although devoid of tokens until tomorrow. However, there is nothing stopping you placing open orders to buy the tokens as they are minted. The launch price is 1 HIVE but, as stated above, there will be some placed at a discount.

And don't forget: DYOR.