Using SIM to build our liquid HIVE Reserve for the Primary FreeCompliments Community Account

in FreeCompliments7 months ago

SIM

SIM is a token associated with the dCity, a game on the HIVE blockchain that’s been around for a few years and continues development. Within the game, SIM is used to purchase various assets that contribute to the growth of the city. I’m not going to get into the nitty-gritty details here, but for those who are interested, the game can be found on dcity.io.

What the heck does this all have to do with FreeCompliments?!

Well, holding the SIM token provides SIM Power, which rewards liquid $HIVE rewards on a daily basis. The reward is based on an average SIM Power over 30 days; in other words, you must hold SIM for 30 days in order to obtain the SIM Power upon which rewards would be based. If you hold SIM for 1 day, you’ll get 1/30th of the rewards that you’d receive after 30 days. Additionally, a minimum of 8000 SIM is required to begin receiving any liquid HIVE.

Now, just to throw out some numbers, the average APR for holding these tokens has been approximately 35-36%. However, this is not the end of it!

If you put these SIM tokens into the swap.HIVE:SIM liquidity pool, you earn an additional ~17% in SIM on a daily basis. If you have enough liquid swap.HIVE, you can continue growing this liquidity pool on a daily basis.

Now, here’s a unique feature of the SIM token: the tokens which are in the liquidity pool continue earning the aforementioned APR! In this way, you’re able to earn both HIVE and additional SIM tokens, which in turn earn even more liquid HIVE.

Thus, the APY becomes quite substantial – far over 36%.

Now, many people must be thinking: what if the price of SIM drops? Won’t this crash my APY? I considered the very same thing, and have been watching the price for a while. Over the past few months, the price of SIM seems to have stabilized around the 0.000170 – 0.000175 range. Even historically, the price did not appear to dip below that point. I purchased, for my own holdings, around 15M SIM at a price of 0.000173 HIVE apiece. Currently, the price is sitting steady at 0.000172 HIVE.

How will FreeCompliments use SIM?

Currently, I’m earning approximately 14,000 SIM per day from my own stash. I began pumping these SIM into @hive-140084, and using the swap.HIVE I have there in order to add to the liquidity pool. After a while, I’m going to stop pumping SIM into that account and let it accumulate SIM on its own. I’m not yet sure when I’ll stop doing this, but it will likely be at least for a month, if not longer.

My plan is, initially, to use all of the HIVE rewards obtained from holding SIM by converting it back into swap.HIVE and using it to add to the liquidity pool. Simply based on the APRs, the swap.HIVE rewards (after holding for at least 30 days) should exceed those required to continue adding to the liquidity pool. Thus, we’re going to reach a point where we’re able to continue adding to the liquidity pool and keep a little bit of extra liquid HIVE.

This way, we’re going to be able hedge against any price downturns in SIM while still earning more liquid HIVE.

What will we do with the additional liquid HIVE? Naturally, this will go towards maintaining our daily and monthly HSBI rewards. It’s always been a bit of a struggle to retain this reward system without powering down, and while I have been adding my own funds to keep it going, I’m always searching for additional ways to break even. This is one such other way which will get us closer to that goal.

We’ll eventually reach that breakeven point, and after that we’ll be able to continuously grow without having to ever power down.

Additionally, I’ll likely incorporate SIM tokens into our reward system. It will also likely be a part of the future rewards for delegating to one of our designated community accounts. This is going to be quite exciting!

Missed Mental Health Initiative Threadcast

Just wanted to drop this in here since I’m posting anyway… we missed a mental health initiative threadcast yesterday due to InLeo updates which rendered Threads unusable for me most of the times I tried yesterday (which wrapped around my work hours). Updates are necessary, so I wouldn’t hold this against them at all. Just an fyi for everyone!

Conclusion

SIM is going to be a steadfast part of our future HIVE income plan and rewards system. It’s going to bring the FreeCompliments Community closer to becoming a self-perpetuating HIVE-earning machine that can continue give out HSBI to its users for their wonderful content!


Disclaimer: FreeCompliments (@hive-140084) will be a 20% beneficiary for this post.

Follow our curation trail and earn 1 HSBI per month!

Refer people to the community and earn 2 HSBI per person who joins, plus a chance at a bigger prize!

Here’s a permanent invite link to the FreeCompliments Discord!

Posted Using InLeo Alpha

Sort:  

Dear Community, we're using a new method of building up our liquid $HIVE reserve so that we can continue giving out HSBI. Here's a brief description of how we're going to do this!

@winanda @contestbox @faithgifty34 @akfamous @sanderson22 @jeanflower @quirkee @steemflow @everlyalliance @eduntemidayo66 @guuh @adatilda @sijuk @chibas.arkanghil @revolverocelotyt @mbracho @sonaker @ieronimus @kalib @yirkahr @briansssolo @beckyonweb @liawol @circlebubble @yummycruz1 @ph1102 @hafizaftab @ellaturb @alejaq @massivevibration @fightinclub @irfanm @amarettafresca @aye2001 @captaincryptic @win.hive @bitterirony @germanbava1 @qumao @dorimarval @thisismylife @rajaacheneis @josua1 @sonofgrace @sanwalniazi007 @careassaktart @haastrecht @anna.kathaxrina @vikbuddy @sairanaaz @nism @iyanpol12 @gregscloud @btclover01 @wikki4post @kam5iz @enricoe037 @ortegao @owasco @alvarogolo @udyphils @bsalvinos @mrenglish @be-connected @ibbtammy @philnews.xyz @gery88 @javedjaved @foysalc00l @germanbava @germanbava1 @callion @kampi @c3r34lk1ll3r @enamouredsoul @hopestylist @bluestack @cyboule @ashishgu @converter.bonus @boeltermc @dodovietnam @sheikhshaon @solides @takhar @fexonice @bastelwastel @jazclassic @anonim1 @ifeoluwaalexis @gardenofcarmen @entertainz @irvet @chidex52 @rabia786 @gloreal @vladlau89 @dzoji @absurdanipal @carlosramirez @saqlain007 @curatorcat.leo @elianaicgomes @collinz @sadiabibi @madilyn02 @maggotmilk @sandrabastos @medicalroute @starbork @aadilmir @alkirua @liquidocelotytt @somospcd @preciousjewel1 @vaynard86 @lasort @beeeee @mato712 @enkimaster @hunter.nxi @the13anarchist @yousuf68 @pulubengdugs @shiftrox @tanujaroy @germanandradeg @yiliandelgadoo @mirthepotato @peterock @suteru @dewabrata @opsin @timothyleecress @jane203 @alessandrawhite @ashiru @rimurutempest @captainman @djandre @phanty @mendoliliana @zpek @vrezion @edith-4angelseu @yelimarin @eneayi @samiwrites @treysonmike @denissemata @sudeon @agreste @servelle @ijeomastories @bukkyj @hellsveiah @keithtaylor @rulivyxo @tejidorosa @nexo.voter @mrmiyagi @fjworld @rqr4 @julie808 @sehrish-nosheen @bulliontools @lilla365 @untilwelearn @meraki7578 @lisamgentile1961 @ybf @alejandro1799 @magnacarta @floruth @morwhale @maryene @alohaed @saachi @vrezyy @philings @silarai @aezielove @devoice @mdaminulislam @chukwu10 @dooh92 @netlyn19 @metapiziks @javedkhan1989 @lfu-radio @darasimi @jeclyn60 @beauty197 @eniolw @artgirl @dreloop07 @peniel2010 @iam-siki @gregscloud @lia-velmont @antony02 @ijeomastories @brighto15g @deisip67 @diegoloco @hdmed @diosarich @joycy @oadissin @willythewhale @emotak @charlie-chain @makorirobinson @fiveat @oasiskp2 @mathewdaddywah @sonofluna @sifondeseltz @odogwuego @cjmorillo @sinaimndz @elfranklin @kopiko-blanca @arlenec2021 @rzc24-nftbbg @shemzy @graciel-chan @moclassic @prasiatko @kennymiracle @chm-writes @john0928 @giveandburn @shahwaleed86 @temidayo-bar @andestethic @sayury @edver143 @aminul101 @alfjo1 @ldylilith69 @joydukeson @untilwelearn @charliechain @travelflower @edeyglezsosa @boredoneeesan @imohmitchel @gyakan1999 @ijebest @mintfinch @yusufopeyemi @lorylol @susielynn @d-a-d @usagidee @yoslehz @victor-praise @queena-242 @goldielove @dwayne16 @allama @koto-art @scentsgalore @mily23m @treasuree @fractoli @gabrielgetta20 @egarysv @franciawrites @ebohehi @pazartesi @harbeegail @samueluche07 @kemmyb @felixfrancis @picna001 @liyuxiexie @big2 @kelvvyn @cryptounicorn420 @youngladpaul365 @mimismartypants @estelacha @piini123 @ruffatotmeee @lydiapauline @jenthoughts @jaynie @elderdark @stekene @city-of-dresden @omojuwa007 @pounce3087 @tife23 @wemah @zoemacsimeon @wrestlingdesires @tydynrain @henrietta27 @chrislybear @timehacker @uzoma24 @legendwushu @freakshow90 @pravesh0 @josephsavage @tonybad @naidu24j @peachyprincess @davot @amiegeoffrey @valeryc @joseal2020 @rosmiapure @elgeorge23 @spoonies @saleembk @mell79 @didiyilji @wongi.leo @resiliencia @avatara @ckole @huntersmoon @jhymie @synergized @nanixxx @splash-of-angs63 @caleb-marvel @peacious @grantprof001 @daddydog @dwixer @chris-chris92 @kiara-jones @denmarkguy @yolimarag @beckyroyal @hopepascal @tengolotodo.leo @wongi @goingcrossroads @noctury @goodysam @ghua @fariha-faraz @starking7272 @manclar @the01crow @wealthwess @creacioneslelys @dayadam @acgalarza @liberius-1 @pepetoken @yoieuqudniram @anontechtube @olubunmiakinmade @fantagira @b0s @beluhan19 @imransoudagar @wendyth16 @bluekinabalu @earn.and.grow @olujose6 @dynamicrypto @zahidsun @peckypeace @lightpen @sommylove @iamjadeline @freedomprepper @abfarhan @yadamaniart @bigtakosensei @mammasitta @ozd @juva @fonestreet @modallas @balikis95 @blurtbuyback @theindiantrader @thebighigg @littlebee4 @chaosmagic23 @tokutaro22 @evih @olgavita @rkploy786 @no-advice @agbogo @fantagira7 @chillpill @born2rock @aquamarine @animaya @kingsleyy @kraken99 @mr-chuks @actioncats @nbarrios67 @tonyes @almostpeter @alphaleo @alanapan89 @fredaig @ifarmgirl @moeenali @thetimetravelerz @ikankaruk88 @tengolotodo @saggi07 @diodao @monica-ene @yeckingo1 @digi-me @whitneyalexx @mcoinz79 @city-of-berlin @george-dee @memess @atma.love @itsme9001 @beelove @ziabutt3836 @neilamarcano @caspermoeller89 @nony @kahkashan @beeber @avril.fortuin @mikezillo @pandamama @zakludick @lizelle @jfang003 @dailyspam @stickupboys @florakese @laurapalmerr @djynn @akipponn @bhattg @dbooster @pinkchic @christinepoulos @ecoinstant @arcgspy @ismartboy @mariela53 @mviews @crazyphantombr @sperosamuel15 @ugomarcel @razzi11 @liquidocelot @jjmusa2004 @preparedwombat @artist-freepae @susurrodmisterio @imacryptogeek @funshee @whitelightxpress @almajandra @go-kyo @itwithsm @marilour @momogrow @lividvoice @hiveborgminer @lucia24 @summertooth @paulyoung1 @lifesadvice @sahidclement10 @caelum1infernum @elisaday7 @woodathegsd @katiej @smc.arike.oba @romanie @hive-197626 @luchyl @teknon @headwan @chairoul @lorennys @fizz0 @tikki00taffi @lady-bellar @uthantzin @melinda010100 @saffisara @ndk.focus @raj808 @stdd @jhymi @deraaa @eddylight @sequentialvibe @blacardi @ijelady @corvidae @bambukah @stayten @crrdlx @thekittygirl @jamerussell @wesphilbin

(If you were tagged, it’s because you’re an inaugural member – please let me know if you don’t want to be tagged and I’ll stop, pronto!)

I was already on a mission to hold on to the SIM token, it along with DBOND/DAB have been the best in terms of APR, now I didn't know that playing in the pool would give a good boost to the rewards, I'll put some there and follow the evolution, thanks for the information!

!PGM !BBH !LOLZ

@freecompliments! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @shiftrox. (5/20)

What did the doctor say about the tall person in a rush to see him?
I wish you were a little patient.

Credit: reddit
@freecompliments, I sent you an $LOLZ on behalf of shiftrox

(3/10)
NEW: Join LOLZ's Daily Earn and Burn Contest and win $LOLZ

Some good information here 👌🏼

!hiqvote

$SIM has always been good to me. I am out of it right now but I will get back in eventually. Just needed all the HIVE to pool with LEO right now.

I hope you get a lot of daily hive flowing in.

your plan sounds solid, whether it will work or not... none knows the future

let's do that and hope the best

untitled.gif

Indeed, nobody knows, but I count this as a relatively solid bet. Spending the time to do the proper research helps with such decisions!

We'll still hope for the best.

This is absolutely amazing! Wonderful news to start out the Sunday 🫶🏼

Have a great Sunday, wonderful people

That sounds like an excellent idea with SIM! I may have to get into this myself! I have about 1,000 SIM in the diesel/liquidity pool, so I'm going to need a lot more! I appreciate your methodology! 😁🙏💚✨🤙

@caspermoeller89, the HiQ Smart Bot has recognized your request (2/3) and will start the voting trail.

In addition, @freecompliments gets !LOL from @hiq.redaktion.

For further questions, check out https://hiq-hive.com or join our Discord. And don't forget to vote HiQs fucking Witness! 😻

If you lose a date because of bad breath
It wasn’t mint to be.

Credit: reddit
@freecompliments, I sent you an $LOLZ on behalf of hiq.smartbot

(1/8)
Farm LOLZ tokens when you Delegate Hive or Hive Tokens.
Click to delegate: 10 - 20 - 50 - 100 HP

This is a great initiative.

This is good to hear, I am a SIM millionaire on my main account, but the game eludes me, I cannot get to grips with it!

Hello freecompliments!

It's nice to let you know that your article will take 10th place.
Your post is among 15 Best articles voted 7 days ago by the @hive-lu | King Lucoin Curator by keithtaylor

You receive 🎖 1.0 unique LUBEST tokens as a reward. You can support Lu world and your curator, then he and you will receive 10x more of the winning token. There is a buyout offer waiting for him on the stock exchange. All you need to do is reblog Daily Report 283 with your winnings.

2.png


Invest in the Lu token (Lucoin) and get paid. With 50 Lu in your wallet, you also become the curator of the @hive-lu which follows your upvote.
Buy Lu on the Hive-Engine exchange | World of Lu created by szejq

If you no longer want to receive notifications, reply to this comment with the word STOP or to resume write a word START