10,000 HIVE Worth VAULT Tokens Shared As Curation Rewards & Understanding the Soft-Pegging Mechanism

2 years ago

Hello Hives,
We are excited to inform you that the VAULT has reached a total supply of 100,000 tokens, means the @HIVEUPME curator has already shared 10,000 HIVE worth of curation rewards among its delegations.
[VAULT token hard pegged to HIVE at (1 HIVE : 10 VAULT) ratio].

What's VAULT Token?

VAULT is a Hive-pegged token that is mined via the daily curation earnings of the @hiveupme curation project. The @hiveupme curation project shares 95% of the curation worth in VAULT tokens with its delegators. Currently, this token has no other use case, and there is no other way to mint VAULT tokens.
Later, we use this token to return 0.01% swap fee generated via USWAP.APP. This helps us to maintain the lowest swap fee (0.09%) compared to other swap bridges, and we have also added instant VAULT swap to HIVE or SWAP.HIVE via the USWAP.APP.

How VAULT Pegged To HIVE?

The formula mentioned below works with the VAULT token mint rate:

@hiveupme curator (95%) daily curation earnings = amount of daily VAULT token minted.

When you check the chart below showing the last three months of VAULT token trades at TRIBALDEX, you may notice that someone tried to pump the VAULT market and break the token's pegged price on January 4th, 2023. However, similar to the HBD pegging mechanism, all these pumps eventually break, and the token price will return to 0.1 Hive (its initial pegged value).

Source

The above chart shows how we maintain the VAULT token's pegged price at Hive-Engine and Tribaldex. Here, we have soft-pegged the token price. However, at the USWAP.APP, you can instantly swap VAULT to HIVE at a ratio of 1:10.

Why Not Burning VAULT?

Previously, we used to burn VAULT tokens when our buy orders were filled. However, now we are using these tokens to share bridge rewards, as explained above. As a result, the token's circulating supply is around 43,600, which is worth 4,360 HIVE.

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2.12321488 BEE

4 comments

@mikezillo70

2 years ago

You are doing a great work! Keep it up!
where can I read how you curate post to evaluate a delegation?

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@theguruasia68

2 years ago(edited)

Delegation based curation is not working at the hiveupme curator script atm.

$WINE

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@wine.bot56

2 years ago

^{Congratulations, @theguruasia You Successfully Shared 0.100 WINEX With @mikezillo.}
^{You Earned 0.100 WINEX As Curation Reward.}
^{You Utilized 1/4 Successful Calls.}

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^{WINEX Current Market Price : 0.112}

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^{Read Latest Updates Or Contact Us}

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@mikezillo70

2 years ago

Thanks for your reply.
Yes I knew that. I was interested in understanding what kind of posts you curate, to evaluate a delegation to support it.

Besides, if there is a way to be supported from the hiveupme, I am interested in it 🙏

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@hivebuzz74

2 years ago

Congratulations @hiveupme! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

You published more than 50 posts.
Your next target is to reach 60 posts.

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To support your work, I also upvoted your post!

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