Is $Slothbuzz changing from low liquidity to deflationary super token?
The Slothbuzz token has taken another turn in its evolution. Starting out as a low-liquidity curation token, it has become an almost deflationary superpower on Hive! Minting only 6.9 tokens per day through its proof-of-brain distribution model and incorporating burns through Hive's new game, Sloths Mining War, $Slothbuzz is becoming a Hive-engine super token!
Good afternoon, burners! Another day, another $slothbuzz token post!
My goal was always to burn $Slothbuzz tokens, the Hive-engine community token from Slothbuzz.com. I planned to buy back any lingering tokens on the market to keep these burns growing! Sloth and steady progress has been made! The token has never had a huge liquid market. Only 6.9 tokens are minted daily, split 50/50 between authors and curators. Within this, it's split 50/50 between staked and liquid tokens! This means only 1.7 tokens are openly available daily unless users unstake through the 4-week process!
The market has been sloth and steady, with the price rising and falling depending on how much activity has been happening on Hive. With supply minted through PoB, most goes to authors and curators of Slothbuzz content. From our community accounts, we've held and supported several contests, events, and giveaways, using liquid tokens earned from the daily minted supply to reward users. Now with #SlothsMiningWar, the token has never been more in demand!
$Slothbuzz token used in SlothsMiningWar
Now, players in Sloths Mining War can use one $Slothbuzz token to get a 'Torpor', an 8-hour invulnerability shield.
The game then burns 50% of the token and sells the rest on the market. Using this Slothburn account, we can build a strong buy wall to help keep the token price stable.
$Slothbuzz market
Currently, the Slothburn token is trading on Tribaldex at a sell price of 1.69 Swap.Hive, and the buyback wall is holding strong at 0.769 Swap.Hive. The buyback wall grows with market demand, matching the lowest buy orders when possible. Users can still slip in a scoop of some 'cheap' slothbuzz tokens, even as the swap price increases.
I guess Slothbuzz actually needs people to sell tokens! With such a low daily mint and constant burns from Sloths Mining War, the token has entered a deflationary phase. Now is a great time to use the #slothbuzz tag on your Hive content! Using Slothbuzz.com helps bring even more buzz to your Hive journey!
$Slothbuzz token supply and demand
Right now, buy demand outweighs sell demand. Currently, around 440 are listed for sale, with around 1500 in the buy side! I've recently heard that the LOLZ DeFi project is coming to a close. They hold a pretty big share of the Slothbuzz tokens, so more Slothbuzz tokens may hit the market in the coming weeks or months depending on what the Dev decides to do with them, a good move would be stake, curate and compound! But I might be biased!
There are a total of 19009 Slothbuzz tokens minted, of which @null holds 825, 100 of which are staked so don't show as 'burnt' meaning the circulating supply is 18284. I posted about Sloths Mining War starting to burn tokens about a month ago (slightly less, actually), and the balance was 684, so 41 tokens have been burnt since then! That's almost a quarter of the total amount minted over that period! Or basically all the 'liquid' supply!
Now's the time to find your buzz; you don't want to sloth on this one! Start using #slothbuzz on your posts and earn some $slothbuzz tokens before more users find their buzz! Consider delegating some HP to @slothbuzz to help them cast bigger HP votes, along with their bumper $slothbuzz votes, on all the best Slothbuzz content!