Issuing new SPI tokens for fund growth? What do you think?
Hello, SPIers. It was around 4 years that SPinvest was first launched on STEEM. It was the first of its type to be a fund-based token where tokens represented an equal share in the ownership of all the assets under the SPI token. It took 9-10 months to issue around 75k tokens and when we moved to HIVE, we airdropped SPI on HIVE at a ratio of 1.25 HIVE SPI to 1 STEEM SPI bringing us up to our hardcap of 100k SPI tokens.
SPinvest was not launched during the bear market by chance. It is the best time to launch a crypto-based fund because everything is cheap and we have all seen the growth the SPI token had over its first 24-30 months as we entered the bull run of 2021.
Today, we are here again in the bear market and it makes me think, should SPI create an SPI v2 token?
Why?
To increase the overall fund size. I would like someday to do SPinvest full time but the fund needs to be worth more and issuing more tokens to raise funds during a bear market would get us there faster. I think I've proved over the past 4 years that I can do what I say. I've produced consistent weekly reports and updates. I've launched subsidiary projects under SPI that are doing well and most importantly, I've gained a massive amount of experience in how the crypto market works through its cycle, how undervalued ratio trading is and too many things to list.
Fresh investment is good for current SPI holders because fresh funds would be allocated toward discount cryptos.
How?
It would not be hard. Create a new token, value it at 1/4 the value of SPI and sell it. It would exactly the same as the SPI we have today but 1/4 of value and 1/4 of the dividends.
Thoughts?
Could we sell 250,000 more SPI v2 tokens at around 1 HIVE each?
Please leave your thoughts in the comments below.
Sure. Go for it but call it SPI421 !lol
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whats 421?
Another way of saying 1/4 of SPI !lol
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To be honest I'm not sure how I feel about issuing more V2 layer tokens to gain more funds for the sake of gaining funds. I would like to see it have utility to base layer token and increase value to the other coins vs just spreading the current investors base. I like thew 1/4 dividend, but I'd want to fully understand how the capital raised for this type of sale would be used.
Maybe you misunderstand. It would the exact some as SPI token but 1/4 the value. The funds collected from selling tokens would go into SPI holdings directly.
Just a thought to be honest, no real plan to do it, thought i'd ask for some thoughts
Thanks for the feedback :)
Based on recent token sales, I doubt whether 250k Hive of new investment is achievable. We should probably be happy if we sell 10 or 20 percent or so. Still a nice amount of money, but not sure whether it's worth the time and energy that's needed to get it started...
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Yeah, selling 250k HIVE worth of tokens would be hard even with the track record.
Just a thought exercise :)
Thanks for your feedback
Although, I am not sure 250000 would sell, I would be ok with the idea. Is there any way of doing a stake-weighted vote?
Thanks for the feedback.
SPI does not do upvotes because curation pays 8% and leasing pays 15-16%. Plus promising votes is a more hassle than its worth.
No no, I mean taking a vote to decide on the issue of issuing new tokens by the holder of SPI.
Ah, im with you now.
I was toying with the idea, to be honest. I dont think there would be enough demand there to make it worth well.
I'm not sure about that.
Right now there are 168 SPI for sale on Hive-Engine for 4 Hive each. That should be the same price as SPI v2 for 1 Hive.
If the demand would be really high, they would have already been bought quite fast.
Truth ⬆️
Thats true, but at the same time, there are only 170 for sale out of 93k.
Was toying with the idea and wanted some feedback. Ultimately your right, im sure there would be some demand but maybe 30-50k HIVE worth so not really worth it.
Thanks for your feedback :)
no way you get 250k right now. Let's see how DBOND goes, I think you'll be lucky to raise 50k hive right now.
your right, 50k would be good atm, next worth it
Its a difficult call really. 250K is a lot of HIVE. I like the idea, but with so many options around it may be difficult to get that, atleast in a short offering - however, over time in installments, maybe it is achievable.