Update for the MYRIANODE side project

Hello PsyberSects fans! We are happy to announce good news all around with respect to the MYRIANODE project! Read on for more details!

1. Myria delays whitelist buying date

We still hold our whitelist spots, and in fact we are still in discussion to possibly have access to more. But the date by which we need to purchase the nodes has been extended to October 16th.

This, according to Myria, is due to uncertainty over the upcoming merge. Happy ETH merge everyone! We have more time to do token sale. We also have more risk of currency decoupling, more on that later on.

2. Whole node secure.

Private agreement has been reached to run 1 or more Myria nodes through our token scheme. That means that the investor will send us the ETH, and get 8000 MYRIANODE tokens for it, without the sale going through the Hive-Engine protocol.

This is a great scenario for the private party, where they can have access to a Myria node, run by a team that is actually going to run (and use!) the software, and can participate in the dividends and cash-out partially or fully as time moves on through our buyback scheme.

3. Buybacks activated.

There is still another month now of sale possible. In the meantime, we have activated 99.9% buyback wall, if anyone did buy but is now no longer interested - you can sell back your tokens at anytime you wish.

This was always a speculative infrastructure play with positive cross-project attributes, no one needs to feel trapped in this token. The partial tokens that are sold in excess of multiples of 8000 will eventually be swapped into SWAP.ETH to maintain the ETH-backed hedge aspect.

Risk: Currency decoupling

Because it is not just a few days but a whole month we will be waiting for, there is a risk that 2.5 ETH is 10,000 HIVE by the time it is time to buy the nodes. There is also a chance that 2.5 ETH will be 6000 HIVE at that time, as we seem to be seeing a lot of pre-merge hype on the ETH price - but this is not a risk to the MYRIANODE project.

We will manage the risk accordingly, and will continue offering the 0.999 HIVE buyback up until shortly before October 16th, keep posted on this blog for further details.

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We feel like these three updates together make MYRIANODE an interesting project to take a look at as an off-chain hedge, potentially bringing money into the HIVE ecosystem for years to come. There have been reports of other successful node projects recently, such as GALA and SPLINTERLANDS. Past performance does not guarantee future results though. There are always risks and you should never invest more than you can afford to lose.

A tokenized MYRIA Node is a concept that is not new, but we doubt anyone else is doing it. Now that we have more time, we will be talking with MYRIA, who knows - they might take a special liking to some weirdos on HIVE.