One week away from 30'000 Hive Power
The CTPSB project has been growing constantly since it started in September 2020. At the time the token value was 1.017 Hive. Now, almost 4 years later, the project is about to reach a milestone with 30'000 Hive Power owned on the @ctpsb account. There are now 9491 CTPSB tokens in circulation, meaning that each token is worth 3.153 Hive.
As of today, the @ctpsb account ownes 29'925 Hive Power. The account grows at a rate of around 80 to 100 Hive Power per week. So it is quite safe to say that by the end of next week, we will reach 30'000 HP.
Many changes for a sustainable growth
In the past year, the project has changed a lot. We made it smaller and maybe also less interesting in a way. We decided to delegate our curation efforts by following the @liotes.voter curation project. We also stopped accepting and rewarding delegations. This was due mainly to the fact that it was almost impossible to finance it. Instead, what we used to reward delegations in the past, is now directly powered up. The result is that the growth of the project has become slightly slower but more sustainable.
We have also introduced a scalable burning mechanism that allows us to burn around 0.7 CTPSB tokens every week. This is great because it helps to support the APR of the token.
Dividends for NFT holders
The CTPSB project also includes NFT's that are hosted on the WAX blockchain. We have introduced a mechanism that allows us to reward NFT holders on a quarterly basis and this provides real value to all NFT's. Every 3 months, we pay dividends to all NFT holders that submit a claim.
Were the changes worth it?
I've been running this project for almost 4 years and there are hundreds of work hours invested into it. Other than being one of the biggest token holders and profiting from the token growth, I never took anything out of the project for my time. In order to stay motivated, I had either to find a way to get an income from the project or to reduce my work time drastically. I opted for the second solution and I could reach this quite well with the changes that were introduced.
The project is less dynamic than in the past and it grows slightly at a slower pace but it has become much less work intensive and more sustainable. So everything considered, I'm pretty happy about how things are going at the moment.
The numbers of this week
Learn more about the CTP Swarm Booster:
I think it's a good change for you. The project is in a good state and I think having a stable progress is good enough. Congratulations on the 30k HP next week.
Maybe it's a bit selfish to bring the project to a size where I can easily manage it but I didn't see another way. I believe that a smaller project that still grows and brings value to the holders is much better than a project that sooner or later needs to be stopped because it isn't managable anymore...
I think that is fine. Look at all the projects that have died because the owner either left or got tired of it. I prefer it if you fine it more comfortable.
Very pleased with the progress of CTPSB token. I bought some at 3 hive and it's been fun watching is float higher and higher.
It's a great token just to buy and hold in the wallet. It will gain value over time :-)
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