EcoBanker Accounting - What assets do we own?
I am getting back into the swing of things here in Colombia, and perhaps most importantly for me, I am working to improve my capabilities, my discipline and my level of focus. Important for all ECOBANK holders to know, is that we have assets backing these tokens, we have a real life project which continues and no matter how slow it moves, this project is hedged against both inflation and crypto collapse by real land.
As a reminder we have 2 pieces of land, one is 8.2 hectares situated on the Pan-American Highway, and 50% interest in one much smaller property with some hotel infrastructure already built on it.
We have already visited the 8.2 hectares, and so did a large academic group visit while we were gone, led by @gestorsocial and @arangoaqet on two different days - this property continues to be the backbone of our intentions with ECOBANK.
This week we will visit Casa Lago and bring you an update here on the progress up there. For now I will not stress myself with the strict valuation of these two properties, the time will come when we will have to do that, and you know that you can follow @ecobanker for all the related news in the future.
Today, I want to talk about the crypto assets in the fund - what we have managed to accumulate through some creative techniques by me, your fearless leader @ecoinstant.
You may or may not have noticed, that for several months, I put @ecobanker as beneficiary of my posts, posts which were not necessarily related to the ECOBANK project, but some of which were. This led to an accumulation of value on the @ecobanker account, including Hive Power, HBD as well as hive-engine tokens such as ARCHON, ONEUP, NEOXIAN, LEO, BEE, POB and others.
I have decided to stop this practice, from now on I will only give 50% beneficiary to the @ecobanker on posts that are related to the project.
Let's see the results:
We have managed to accumulate more than 2050 HIVE POWER! This, to me is really good news, and means that it is quite unlikely that our project will be hobbled by the need for RC in the future, no matter how we decide to use the Hive account. For now we are just reblogging all the related content, so we maintain most of our HP delegated out, earning tokens over time to continue to expand the fund. We are delegating to the @brofi project.
@brofi pays out BRO tokens, which are easy to sell on the market, and there is a lot of demand for them. While BRO is a valuable token, also an asset backed fund, it is perhaps more speculative than necessary to hold in our @ecobanker account, so we sell them, along with most of all the other tokens we earn.
With those swap.hive, we are buying INCOME tokens. INCOME Synergy Fund is a fund that I run, so I can be absolutely sure it will not rug us. It is also indexed to HIVE, trading at a discount to its Asset Backed Value, and paying daily dividends slightly superior to Hive Power. Its a power house of a token all around, and fits in perfectly to our long-term strategy on @ecobanker.
Another token of note is ARCHONM, not much to be said about this token, it pays out in HIVE as well as ARCHON, and we got our hands on some underpriced and will likely slowly sell them off and put the money in INCOME. Also, SIM, I personally operate a small dCity city on @ecobanker, the cards remain mine personally but all SIM/HIVE paid out belongs to the account, we keep over 8,000 SIM on the account as a minimum, to be eligible for SIM Holding rewards.
We do manage a goodly number of stable coins, still in here from the sale, we will likely soon want to convert these to pesos, as the exchange rate is quite favorable right now.
But in the meantime we have earned some good yield between BUSD and HBD, as I have documented in the past here, here and here. We do this in two ways, first by participating in the LP, earning fees in kind as well as BXT payouts. Secondly, by maintaining some amount of tokens on hand to swap one way or another when there is an unbalanced amount of each in the pool (which earns the LPs fees) as well as paying out a premium to the swapper who rebalances the pool.
As you can see, we have a lot more BUSD than HBD right now, due to the recent pumps of HBD. Slowly but surely we are making our way back the other way. Let's see what the new month brings for HIVE and HBD price.
Hive-Engine Market for ECOBANK
Our decentralized marketplace is very much an asset for the project, especially when you consider these things from outside of the 'crypto' perspective. Of course, we paid 100 BEE for this technology to become active, and there it is, availabe to be seen and interacted with from hive-engine.com, leodex.io or tribaldex.com.
Here is the best site to analyze the market on, although I don't use it for logging, in or buying and selling - just looking at the data!
So what are we seeing? First, we have a pretty large spread. Sellers are seem to be targeting the $1.65 usd price we put out into the ether, and buyers seem to be cautiously outbidding each other as there have already been dumpers. @ecoinstats, aka the INCOME Synergy Fund, is looking to provide liquidity and scoop up as many tokens as it can during this period of uncertainty.
This is a normal period of market consolidation. HIVE price is down low, so sellers who paid $1.1 HBD per token may still be getting a profit in HIVE price compared to converting HBD to HIVE at that time. I cannot pretend to know or understand every reason why people buy and sell things on the internet, but we do know that 'markets gonna market' and we can chose our strategies and act accordingly.
@ecobanker still has 125,967.55 ECOBANK tokens, more than half of the original issuance of 250k tokens. Some of this will go to some expenses related to developing the project, and most of it will likely go to a second round of funding. I cannot provide any more information on this, as I do not know it yet. What I can say is, every transaction will be accounted for and reported to you here. Follow @ecobanker for the updates.
And ask any questions you may have down in the comments.