February is looking to be an interesting month for the BYT program.
I suspect most users have forgotten (or never checked) that the launch document included this:
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.
I shall post on this at the start of February. Note that the top 10 BYT holders can easily cast a majority vote, with no need for any formal vote to be gamed! OK, let's get on with the bonuses.
The good news is that the BYT account on Blurt received an airdrop of DIG tokens. They shall form the basis of a fund on the Cosmos network.
The more complicated good news is that DIG has a very long bonding period, and therefore the extraction of liquid funds will take a long time. However, staking rewards are immediately liquid and are already forming the foundation of the fund that will generate the BYT Bonuses.
I estimate about 500 DIG per day, or about 15,000 DIG per month, will be added to the liquid fund. This may change depending on the staking rewards, but is currently the best estimate. This comes to almost exactly 200 BYT tokens per month, at current rates. Much of this will be invested in the Osmosis DEX and some staked in ATOM and OSMO tokens. There are more airdrops due on Cosmos, so this will hopefully yield some extra future tokens. I shall take an appropriate amount of profits and distribute them to BYT token holders as BYT Bonuses.
The reason I am calling them Bonuses is that they will not be included in the weekly reward distributions. Instead they will be paid out randomly twice per month. This is a bit of fun for members and may even stop some of the strategic buying taking place around the weekly distro. This will start some time in February.
I trust this is good news.
Buy BLURT on Probit, Ionomy, Hive-Engine and STEX.
Buy BYT on Hive-Engine
BYT is supported by the @busbecq witness.
Exceptionally splendid good news!!
Even my cat wants a BYT!
Thank you. Good luck and all the best.
Wow. This is great news. Thanks BYT : https://hive-engine.com/?p=market&t=BYT
Awesome. Now I need to go buy more BYT.
Best crypto investment ever.
BYT: https://hive-engine.com/?p=market&t=BYT
Sounds like it's high time I got onboard with this program! 2022 is my year to pursue more yield-based crypto tokens... perhaps a little less volatile than the rest of the market. Gotta love that passive income!
Welcome! I recall you from way back on steemit.
Seems like everyone chasing the +100% APRs - what they don't say is that those will always be temporary and hence need to be managed - stake, extract then unstake. That needs some skill and time - not exactly passive income. ;-)
Ah, well remembered! Tomorrow is actually my 5th "Steemversary," time sure goes by fast.
Yes, those super high APRs are unsustainable... much of the time, even a 50% APR tends to result in the base token going down by 30% a year due to selling pressure... so it becomes a zero-sum game. I'm not really much of a ship jumper... I'd be quite content with something that generates a sustainable 15-20% a year, and retains a more stable asset price. But I guess that's just not as "sexy" as those super high yields...
Well, that's what my own steem/hive tokens have been doing for some 4+ years - most have been about 20% APR plus about the same in capital gain - so not bad for "boring tokens"! lol
Enjoy Blurt!
I have been doing the whole crypto-social gig very much as a long term project. As long as nothing seems to be going massively off course, I just keep holding on to my blogging rewards, and I treat it all as a retirement savings account with no guarantees, but a lot of potential.
Hoping to find a little more time for Blurt this year, now that the chain and front ends seem a bit more stable... figured I'd just let the Blurt Power balance build, and maybe I'll take the liquid part of the rewards and buy the BYT tokens with that.
I did it slightly differently as I took those blogging rewards and created tokenised funds. I knew the Hive APR was going to drop massively compared to Steem, so diverted funds into other better passive income.
BYT is slowly becoming what I really want, which a diversified fund - coming soon!
Congratulations, your post has been curated by @dsc-r2cornell. You can use the tag #R2cornell. Also, find us on Discord
Felicitaciones, su publicación ha sido votada por @ dsc-r2cornell. Puedes usar el tag #R2cornell. También, nos puedes encontrar en Discord
Thanks!
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I bought some more yesterday on h-engine, but did not understand a word of the above lol.
random bonus payouts twice per month
I see, well I will be buying more this week, as I like blurt, so when I cash out hive and hbd it will all come to blurt, one way or another.
Awesome
Thank you very much for this great news. Best regards