1.6 million SCRAP token burned
I am pleased to inform you that first batch of 1.6 million of SCRAP tokens was sent to @null thus irreversibly burnt. This time I decided that I will burn this week's powered down Hive instead of swapping half of it in putting into the liquidity pool. I haven't decided what to do next week though, so feel free to suggest anything.
Recently, I came to conclusion that because of Scrap token's design - the max supply shows that this project has little chance to dramatically change the tokenomics despite controlling over 7% of circulating supply with another 7% in swap.hive. Looking only at the numbers of SCRAP token I think there is something wrong with its economic design - ok it's being burnt (over 83% of tokens issued are already gone), but there is no demand to suck it out of the market. I guess web3 game developers need to consider this mechanism as essential.
So what's the shutdown plan?
I guess it's an end so I suggest the following:
- Undelegate all HP
- Ustake Total 'HP - 10 HP'
- Convert Hive into swap.hive
- Swap Hive for scrap
- Burn scrap (I was wondering if transferring the funds to my player account would be a transgression), for now - even though it's tempting, I will simply burn it all aby sending it to @null
You can read about the rules of the project here
How did we do?
| statistic | value | change since last report |
|---|---|---|
| HP | 125.081 | −184.591 |
| Delegations | 1533 | −502 |
| Hive account value | $53.83 | −$31.69 |
| Scrap burned | 1643466.52861147 | +1643466.52861147 |
| Scrap in LP | 6967760.91638241 | +4788760.15822396 |
| Hive in LP | 77.54 | +58.64 |
by @jocieprosza
!HBIT
terra.sinkhole, you mined 1.0 🟧 HBIT If you had replied to another Hive user, the HBIT would have been split: 0.9 for you and 0.1 for them as a tip. When you mine HBIT, you're also playing the Wusang: Isle of Blaq game. 🏴☠️ | tools | wallet | discord | community | daily <><
What's more, you found 1.0 🟡 BLAQGOLD coins as a bonus treasure token!
Your random number was 0.36024805787833836, also viewable in the Discord server, #hbit-wusang-log channel. Check for bonus treasure tokens by entering your username at a block explorer A, explorer B, or take a look at your wallet.
There is a treasure chest of bitcoin sats hidden in Wusang: Isle of Blaq. Happy treasure hunting! 😃 Read about Hivebits (HBIT) or read the story of Wusang: Isle of Blaq.