In the last three weeks, we run a rebalancing for the CTPSB project. This means that we powered down hive power and then with this money, we bought CTPSB tokens from the market maker and burnt them. The result is that the market maker now has more liquid hive to purchase CTPSB from the market.
During this rebalancing, we have burnt a total of 167.42 CTPSB tokens and at the same time we powered down 600 Hive Power. However, since the account is growing in spite of the rebalancing, the real decrease in hive power in these three weeks was 327 Hive Power. Within about 4 weeks, we will have again the same amount of Hive power on the CTPSB account than we had before the rebalancing.
This shows that this mechanism doesn't really hurt the project, it simply slows it down a bit in terms of hive power growth. For the token holders, nothing changes. The reduction of the Hive Power is compensated by the burnt tokens and therefore the token value has increased more or less at the same rate during this rebalancing.
The numbers of this week
| Assets | Amount | Increase over last week |
|---|---|---|
| Hive Power | 33452 | -104 |
| Tokens in circulation | 9263 | -56 |
| Burnt tokens | 2235 | +56 |
| Token value | 3.611 | +0.01 |
| APR | 14.5% | 0.5% |
Learn more about the CTP Swarm Booster: - The CTPSB Website - The CTPSB NFT's Website The market on Hive-Engine
A project run by @liotes