This post is not financial advice.
I want to go over the basic timeline of the LP/diesel pool launch so everyone is prepared. This timeline is approximate, but this is how it will unfold.
On or slightly before Oct 1st, the scheduled buybacks will happen. Shortly after this the pool will be open. I will post an announcement. Some folks have requested to be tagged. If you want to be tagged in the announcement post let me know and I will do my best. Remember the October buybacks are when we switch to the quarterly buybacks. You can place your sell orders for 1.035 Hive right now so you don't miss it.
Both the rewards and liquidity will be added in slowly over the course of several weeks.
The pool will have a 1% bonus set for 100 days so if you stay in the LP for 100 days you should have a 100% bonus to your "shares". I am not 100% sure in this but I think there is a 1 day delay for receiving rewards when you enter LPs.
My main account @cryptounicorn420 will receive some of the UNICOIN I prepaid for but have not yet paid back or minted. I will mint UNICOIN in small batches to add to the pool, likely in increments of 50. I will slowly add liquidity in the first few weeks after the pool launches.
The @glittertoken account will also receive about 50 tokens (if needed) that I already pre paid for . This , along with swap.hive will be used to balance the pool if there is an imbalance of swapping. Much like the @glittertoken account is already playing "market maker" for UNICOIN and GLITTER. I don't expect a lot of swapping to happen in the pool but I am prepared to balance it out if need be.
If you want to purchase some UNICOIN before the pool launches to put into the pool, I will on a case by case basis consider selling a small amount (100 or less) to an individual at 1 HIVE each.. I will not put a mass amount of tokens for sale but this will allow people to enter the pool that maybe missed the pre sale or just want more tokens for the pool. There is a condition on this sale, if you choose this option you are expected to hold the tokens for at least 3 months , preferably in the pool, before selling them. This is something I am offering in good faith. This also means there is a 3 month wait for the guaranteed buyback if you choose this option. These rules are in place like all rules- for the sustainability of the token. But please if you are interested in this option contact me now as I will not have this offer active after the pools launch. I am offering this as a courtesy.
The target reward APR for the pool is an average of 20-50%, but the real target is an average of 35-40%. It will take a few weeks to get there. I will be adding rewards very slowly. What I don't want is to have a high APR at the start that fizzles out. In fact I want the opposite to start low and work up.
This APR will be maintained mostly by the GLITTER token account at first. That account is earning through curation, some post rewards, LPs and does get some outside crypto funding. The @glittertoken account also earns through arbitrage trading, but that amount right now is small. But it all adds up. Most of the tokens in that account come from LP earnings and outside funding for the moment. That account is still building up.
I will also add some rewards from this account and other connected accounts . Tokens that are gained by posting and curation mostly. That will likely happen a bit down the road and will be more like refreshing the rewards so the APR stays on target.
The first rewards added will be GLITTER and SWAP.HIVE. (will be adding more later, starting small) Other tokens and quantities will be added over time. There are a few token owners who have expressed interest in adding tokens to the pool and those will be added, well, whenever those folks feel like it lol.
TLDR: In all ,expect the roll out of both liquidity and rewards to be slow over several weeks.
I will mint as few UNICOIN as possible but like I mentioned before we have over 2x HP to UNICOIN in circulation right now so there's lots of wiggle room.
Burns will resume once the pool is stable. don't expect many tokens to be burned until January though. Most of those tokens for the first couple of months after the LP launches will be tokens the GLITTER account buys back. In January, when the quarterly scheduled buybacks resume, most of those tokens bought back will likely be burned. The tip bot does not need any tokens , so off to the incinerator they go.
@enginewitty tagging you because you've been asking about the pool. I hope this clears everything up 🦄
If anyone has questions, please ask them in the comments.
❤️🦄