XV Token - Making a final push to buy more XV because the token sale ends on the 10th of May
I love the idea:
- You buy XV tokens at 1 HIVE each,
- @Spinvest invests the proceeds into a basket of 15 select top cryptocurrencies,
- The tokens are being bought during the deep bear market = crypto is on sale !,
- These get hodl'd until June 2025, a predicted bull market,
- The tokens are actively managed and rebalanced during the hodl period - which is the part I really like (it allows me to just sit back and do fek-all - which I'm really good at),
- In June 2025, the tokens are sold and converted back to hive, and the proceeds distributed back to the XV token holders on a pro-rata basis (minus a small management fee taken by @spinvest).
With it now being the 3rd of May, that only leaves of 7 more days to buy some more XV. I've been buying what I can during the 10 week sale period, and am now having a final push in this last week.
I've been sweating my HIVE assets to raise funds for the purchase:
- I've been making token withdrawals from the games I play, and selling those on the market,
- I fulfilled an HP lease request in Hive-engine, which has been paying me daily in swap.hive,
- I've been selling misc layer-2 tokens, particularly the ones I dont use, cant be staked and dont provide some form of passive income,
- I've stopped staking the layer-2 tokens that I get from passive drips for the next week, with the aim of selling all of those.
Individually, these dont amount to much, but collectively, they soon add up and I'm actually finding the process quite therapeutic for 2 main reasons:
- Its nice to clear out layer-2 dust that I have no use for,
- Its a test to see if my passive drips actually amount up to anything useful, and can be of use in times of need !
So I mentioned some of this already, but heres why I really like XV:
- I want to have more exposure to mainstream crypto - but I dont keep on top of it enough to know what to buy - @spinvest takes care of that,
- Regular updates and valuations are provided, without me lifting a finger,
- The rebalancing is really neat, and I think thats one of the major benefits,
- Someone else does the hardwork, and I sit back and collect the profits !
The rebalancing is pretty impressive. Rebalancing manages the proportions of the 15 cryptos held at their specified contributions in the portfolio. So if one of them has a great day, and the price pumps, the proportion above the specified holding is sold, taking profit. That profit is then re-invested into the other holdings appropriately to rebalance the portfolio. So it takes advantage of pumps to gradually grow the portfolio over time. Its already working, with the last update, 7 days ago, already reporting a 4% increase in the portfolio.
So I'm collecting what I can before the time runs out - and there is only 7 sleeps left, until the sale closes.
Its a cracking wee project. I'm really looking forward to seeing how it does as time passes, especially with the rebalancer working its magic. Heres hoping for a fruitful sale in 2025 ! Cheers @hoosie