great stuff!!
and already down to 87 ๐๐
i will have to buy a few more now
good to know that the backed value keeps increasing!
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Well, the backed value is not increasing it's just backed value.
It means that the money (HIVE) spent for purchasing VOCUP tokens is not spent elsewhere for something else (as in many other projects out there, as on Hive, the same or even more on projects out of Hive blockchain) but brought in, to power up the account (and everyone can easily see and calculate that).
In other words, if 300 tokens were sold for a total of 2,000 HIVE (or with the newest purchases 2,130 HIVE), in our account should be that amount of Hive Power (HP).
By that, we are securing all the VOCUP token purchases. This means that if, for whatever reason, the project (as it is now) would stop, the token holders may be refunded for their token purchase investment. (So, despite our clear warning not to invest more than they can afford to lose, we wanted to do our best to secure those funds, and at the same time to be as transparent as possible.)
Therefore, the HP currently sitting in our account is made up of the funds raised from the token sale (2,130 HP), while the rest are the funds that we brought (or left) in (in different ways) to support the project.
When we say "funds that we brought (or left) in (in different ways)," we mean, i.e.:
- On exchanges bought HIVE coin (with our own money) and brought in to power up the account (mainly every first of the month, on Hive Power Up Day);
- On exchanges, bought HIVE coin (with our own money) to pay the monthly rewards instead of powering down the account to get liquid HIVE;
- By now, not taking out our 10% of the rewards' share (remember, we are sharing 90% of accumulated curation rewards with token holders), again to avoid (as long as possible) powering down the account and additionally support the project by increasing the reward share for the following month, etc.
Otherwise, it's impossible to share 100% (90% + 10%) of the curation rewards without powering down the account for that amount.
So, the way we believe you thought this works would be a pure miracle. ๐ We wouldn't have anything against it, but with the current working system of the blockchain, it's entirely unrealistic.
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