The super secret CTP project

in The CTP Swarm6 months ago

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If you have watched the last Crypto Mondays show by @jongolson and @blainjones, you know that I've been working on a super secret project for the CTP tribe...

Why this project?

I know that for a certain time @jongolson was looking for a way to build a big account to support the ctp community with powerful upvotes.

There are two way to build such a big curation account:

  • One solution is to buy a lot of Hive and then power it up. Of course the problem is that you need this money first and you need quite a lot of money to have an account that makes a difference.

  • The second solution is to lease delegations on dlease. You can build a huge account by getting delegations. The problem here is that you have to pay for these delegations and the interest rates that you have to pay is very close to what you can generate with curation. If you do it well you earn a little bit. If you don't do it well, then you might loose money in the process. The person who builds such an account takes all the risks.

Both of these solutions are not really satisfactory I believe.

A couple of days ago, Jon was speaking about setting other people as beneficiaries in his posts. Then it kind of hit me. What if we did it the other way around? What if we create an account and we set this account as beneficiary?

Imagine if everybody from the tribe was giving 10% of their posts into a pot. This pot would be actually an account and this account would use its earnings to grow in power and upvote the community.

But of course there is the question of who would own such an account. Would people want to give something away like that to this person?

But wait, if this account didn't belong to a person but to the whole community?

Let me present the CTP Swarm Booster

In a nutshell the idea is to have an account that belongs to the community. The account is powered by the community and owned by the community.

Not only would this account upvote posts within the community. By doing this the account would also earn curation rewards. This means that this account will grow and this means that the owners of the account, the community, will earn money with it.

To sum up, with this account we could give powerful upvotes within the community and help the swarm develop faster. At the same time the community would earn money simply by owning this account.

This sounds nice in theory but how would it work?

The launch

The launch would last a whole month. During the month of September 2020 people of the CTP tribe can deposit Hive into the account @ctpsb (CTP Swarm Booster). It can be done by wallet transfer or by setting the account @ctpsb as beneficiary of your posts. It's up to you how much you want to contribute.

During the month there will be several reports on how we are doing. We will be actually able to unlock some features by making this account grow. These targets will be set as a motivation for people to contribute.

As soon as the account has some HP it will start voting on the members of the CTP tribe. We will try to vote on everybody but we will try to spread the votes so that everybody can profit from it.

During this period, I will keep track of the contributions that everybody has given. HBD's will be transformed into hive and the according amount will be credited to the people who sent it.

At the end of the month, I will calculate all the contributions for each user.

The distribution

At the beginning of October, we will create a new hive-engine token. We will emit 1 new token for every Hive that has been contributed. These tokens will then be distributed to the people who made the contribution. For each Hive they sent to the @ctpsb account, they will get 1 token.

Each owner of the token is part owner of the underyling @ctpsb account and of the Hive Power in it!

After that the token will be traded on Hive-Engine.

How does this token gain value?

When this token is upvoting posts from the community, not only will the author earn bigger rewards. The @ctpsb account will also earn curation rewards by doing so. These curation rewards will increase the Hive Power of the account.

More Hive Power = increase value of the token

The value of the token is calculated in a very simple way:

Value of the token = Total Hive Power on @ctpsb / number of tokens in circulation

Let's say that the launch phase allowed us to collect 3000 Hive. We then emit 3000 Token. So each token is worth 1 Hive.

Now this account starts to upvote and generates 30 Hive curation rewards. However there is still the same amount of tokens in circulation. We have now 3030 Hive for 3000 Token. Now the token value is worth 1.01 Hive!

Whatever the account earns will have a direct repercussion on the price of the token.

The market maker reproduces the value of the token

There will be a market maker on Hive-Engine that will reproduce the value of the token on the market by setting buy and sell orders. This market maker will be a kind of buffer that will allow the whole concept to work.

It can buy and sell tokens from the @ctpsb account which is the creator of the token. Every transaction will be done at the exact value of the token at that moment. So the emission or buy back of the token will have no influence on the value of the token.

Why is this project a unique opportunity for you?

If you contribute to the @ctpsb account with wallet transfers or by setting the account as beneficiary of your account, you help to build this account. For every Hive that you contribute until the end of September, you will receive 1 Token that you can trade on Hive-Engine starting from October.

Because of the way that it is constructed, this token can only gain in value expressed in Hive. So it will probably never be possible again to buy it for this price.

A tool that fulfils a lot of objectives

With this project, there are a lot of things that we can gain:

  • We get a big account to upvote the ctp posts and make the community interesting for others
  • We get more value to our posts
  • The swarm develops even faster
  • By holding the token we can actually earn money passively
  • By holding the token we are part owner of the account
  • Everything is visible on the blockchain. Who holds the tokens, how much hive power is on the account
    We provide an investment form for people who don't want to power up their hive!

Let's start today!

I'm aware that this project is quite difficult to understand and I hope it makes sense to you. Feel free to ask your questions in a comment. I will try to answer them as well as I can.

From today on it is possible to send Hive to the @ctpsb account and I hope that everybody will join this project. It's something totally new that I haven't seen anywhere else. This project can be considered to be DeFi (decentralised finance) and it shows what is possible on this blockchain.

We are pioneers in Hive DEFI


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Nice project I will check how much I can send (as a snall account I am nit earning much).
Best of luck dear

That's great. I believe that you should only put as much as you feel comfortable with. Maybe setting the @ctpsb account as beneficiary of a couple of posts would be a start.

Did I understand right? Will you attempt to peg the value of the token traded on HE to the calculated token value using a market maker? If that's the case, I believe that part won't work, because the role of a market maker is not to keep the price fixed and it won't manage to do that in a free market, except at potential huge losses by the owner of the market maker. The market maker only provides liquidity and earns from the spread during calmer periods of trading, but price moves with the market.

Otherwise beneficiaries to a collector account is a good idea. Communities work like that, btw. Hint hint about CTP Tribe community. :)

Thanks a lot for your comment and this is something I was thinking about a lot and I believe that I've come up with a solution. In the long term the idea is that the market sets the price by itself, close to the market value. Some owners will be willing to part with the token at a lower price, some will be willing to pay more than the token value for the token. I believe this is how it should be.

At the beginning, the market will probably have very little liquidity. For this situation my idea is to have quite a static market maker. Within a week the value of the token will not evolve more than 1%. Every week it will put a certain amount of buy and sell orders on the market. These orders will be centered around the theoretical token value. There will be a small spread between buy and sell so that the market maker can grow together with the token.

Let's say the token value is 2 Hive. The market maker will put a certain amount of buy orders at something like 1.98 Hive and some sell orders at 2.02 Hive.

The idea is to provide these orders on a regular basis so that people who want to buy or sell the token close to its value will have a counterpart on the market. Once these orders are executed, the market is free again until the following week.

Hope this makes sense :-)

Ah, ok, that makes more sense that what I initially thought you meant when I read the post.

I will have to read/watch a couple of times to get it... :)



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This post is AWESOME!

It will therefore get a manual 100% upvote from @thisisawesome (will be done today), for the Awesome Daily Highlights in category CTPtalk, we give out 1 such vote in that category per day, plus 4 more in other categories, and your post will also be featured in today's Awesome Daily Curation report for more visibility.

The goal of this project is to "highlight Awesome Content, and growing the Hive ecosystem and the CTPtalk tribe by rewarding it".


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Thanks for the effort :-). I know it's slightly complicated...lol

- Thanks to @russellstockley the account @ctpsb has already 100 HP
- The @ctpsb account gave it's first upvote to a post by @pixiepost
- @elianaicgomes has contributed 50 HP. The account has already 150 HP
- @iamraincrystal has contributed another 10 HP. There are now 160 HP on the account
- I've finally managed to send funds from Bittrex. The account has now 360 HP

Ladies and Gentleman @jongolson just delegated 1500 Hive Power to this account. In the next post I will tell you why this is simply amazing for your return on this token!!!
We have recieved an additional delegation from @flaxz of 200 HP!

The account upvotes now with 2060 Hive Power. You are amazing guys!

P.S: Upvoted for better visibility

Thank you so much! I am going to read this a few times to wrap my head around this. Still need coffee lol.....

I DO love this concept!! I will be taking part for sure - just got to figure out which way I want to help. This will be epic once this takes off. I think it could help so many owners, for sure.

Really awesome initiative Achim. I appreciate you so much. 💛

I have to admit that it's not that easy to understand. Reading it a couple of times will certainly help. If you have questions don't hesitate to ask.

Thanks a lot for your support!

You're most welcome! I definitely will support you, for sure. :)

Sounds like a great project and I am in for sure, I will not only make this a beneficairy of some of the posts I create but will also send some initial hive to the account.

The concept sounds good, and I will be interested to see how this works

Thank you so much for your feed-back and for taking part in it.

Thank you even more for being the first contributor to the project!!!

If it's something to help the community, I'm all in!!
I have sent my contribution and I added inside peaked the account as a beneficiary, hope I can make it work on the next post lol
Thank you so much Achim for everything!
Swarm Unite!!

That's great, thanks a lot for your support!

Eliana I just saw the 50 HP coming in over hive-engine!!! Thank you so much for taking part in it. I really appreciate.

You are very welcome! They were sitting there for something else but this is also for helping the community so there you go :) hope I can help you more soon!

hi Achim, its a interesting concept.

How are you going to handle partial hive in respect to the new token?
say, i contributed in September 2.65 hive, will i get 2.65 new token?
How will be buy and sell of new token work on hive-engine, as this new token is only within the community.

I did not get your last point on investment, as the hive in the new account will have to be powered-up to earn, so that is also locked.

I know this questions will be answered as we progress, but i wanted to document it for everyone's benefit.

thanks achim

These are very good questions and I'm happy that you asked them.

How are you going to handle partial hive in respect to the new token?
say, i contributed in September 2.65 hive, will i get 2.65 new token?

The token will have three decimals. So if you you deposit 2.652 hive, you will get 2.652 tokens.

How will be buy and sell of new token work on hive-engine, as this new token is only within the community.

The buying and selling of the token will be open to everybody on hive. The upvotes will be limited to the CTP community only.

I did not get your last point on investment, as the hive in the new account will have to be powered-up to earn, so that is also locked.

Let's say you are an investor. You have 100 Hive. You buy our token with this 100 liquid Hive and the token starts to get value. You then sell the token for 110 Hive for example. You as an investor didn't have to power up your hive in the process.

Hope this makes sense :-)

Since I still don't earn a lot of Hive, I stake most of mine. Therefore, I don't have much liquid to contribute at the moment. I will contribute what I can through September and possibly purchase some Hive (I am still furloughed and on unemployment). I want to participate as much as I can.

Everybody should be able to contribute as much as they want and they can. You can start by just putting the account as beneficiary of your posts if you use peakd.com. Like that you will invest without having to take money out of your pokets. I would love to see you participate in this!

So, the straight forward thing is we invest hive into this new account in September.
Then we get a new token that has the value of 1 Hive.
So we get back the money/Hive tokens we invested in form of this new token.
Then as the account is active and earn curation rewards curating the posts of CTP members, the value of the new token will increase with the amount of Hive the new account accumulates.
So when the account has doubled it's amount of Hive/Hivepower the token has doubled in value.
And since this account will most likely be a orca or a whale it's income will be bigger than what a small account can make.

Am I right?

Man you got that perfectly :-). Thanks a lot for taking the time to go through all this.

One question though, will it be possible to invest after september somehow. Or will it only be through buying from people willing to sell.

That's a good question. Thanks for asking it.
From october on, the token will be traded on hive-engine. There will be a market maker who every week puts some buy and sell orders on the market. If the market maker runs out of tokens, the @ctpsb account will emit new tokens and sell them to the market maker for the token value of the moment. Like that new tokens won't dillute the value of the token. The market maker can then put them for sale on Hive-Engine.

So if there is demand, it will be possible to invest even after september.

That sounds great.

This sounds awesome, can't wait to learn more. If there's more, when there's more info.

I didn't want to overwhelm people with too much information. There will be more. I will make regular posts about it to keep everybody up to date and also point out some aspects of this project. Thanks a lot for your comment!

It sounds interesting Achim, is there a way to delegate too?

Hi Erik, thanks a lot for your comment. During the launch phase, it won't be possible to delegate to the account because the account won't be able to pay for the lease. At a later state, I plan to write some posts with this account, this will generate some liquide hive and I would like to use this hive to make some leases. This would allow to kind of leverage the whole thing. More about this on a later stage :-)

Thanks for the answer, I did not really ask about leased delegation, anyways I have now delegated 200 HP, liquid Hive is not something I can keep around that much, need it for my projects and such.

I found a way how to give something back to the delegators to this project. Check-out the post

I have checked it out, thanks a lot.

Man that's great. Thanks a lot for the delegation. This will actually give a huge leverage to the account and help to give powerful upvotes.

(Edit) Sorry I've been using the wrong account 😅
@achim03

Thanks, so is it also possible to add beneficiaries for @ctpsb, I mean do you track rewards from that, @achim03.

Exactly. I will track everything that comes in and add it to the according tabs. If it comes in HBD I will exchange it and credit it in Hive.

Great I will add some, need to see at what level.

Wow! This is a really cool project! Let me reread for better understanding. I do want to be a part of it. :)

Thanks a lot for the contribution. That's great!!!

Feel free to ask if things are not clear. I'm aware it's quite a complicated project :-). I would love to see you take part in it!

Very interesting and exciting, @achim03.ctp. I have shared the post on my CTPTalk blog and tweeted it. I will be following closely over the next few days and weeks...

Thanks a lot for your feed-back and for the resteem! I'm looking forward to seeing where this path leads us... very excited :-)

That's a great initiative indeed!
It's an idea and when people see it working, more people will be interested to invest in this project. Once the token launches in October 2020, if people want to invest more, how would you handle that?

If someone prefers to delegate HIVE Power, is there any benefit for the delegator? If yes, what's your plan for that?

Thanks a lot for your feed-back!

I found a way so that delegators can also profit from it. I've just posted the according article

Sounds like a fantastic idea. I'll send some delegation over :-)

Thanks a lot for the delegation! That's amazing. I've found a way how to make sure that delegators also get their share. I just published a post about it.

This sounds like an awesome project and I'm in. I have sent a contribution. Thank you for creating this opportunity.

Thanks a lot for your feed-back and the contribution! That's wonderful it's been added to your tab!

Thank you! Hey, I'm still a very tiny fish in the pond, but we have to start somewhere...lol

Exactly and we are in accumulation mode. Every token will generate new tokens...

Count me in. I will make @ctpsb my beneficiary. I will send some HP too. Thanks for setting this up.

That's great. I'm very happy to be able to count on your support. Thanks a lot for the 50 HP delegation!

Fantastic! Count me in! I've added this account as my default beneficiary. Can't wait to contribute.

Thanks a lot for taking part in it. That's great. It will take about 7 days until the beneficiary rewards will coming in but then your tab will continually fill up!

Hey there. I'm happy I ran into this post (not sure how I did hehe. I guess that's where the word "secret" comes from). I've been watching #jongolson videos and I got interested in what you are doing.

I'm not a member, but I'd like to be. Is it too late to become one? And if not, what would I have to do to join in?

I would like to participate by sending Hive to this account. I don't think I would contribute much by putting this account as beneficiary as I'm new on Hive and don't make much rewards yet.

Thank you, @achim03.ctp, I can see the effort and engagement you have to this platform.

Hi @lacrucita,

Thanks a lot for your comment and congratulations on finding this posts :-).

At the moment everybody who wants can contribute to the @ctpsb account. Either by sending some hive, by delegating or by setting the account as beneficiary.

To become a part of this community, there is always a way to join it. Here how you can get started:

  • Open a free account with clicktrackprofit. This is a website where you can learn about affiliate marketing and this community.
  • Use the #ctp tag in your posts. Like that your posts will be visible on ctptalk.com this is the front end of our community.
  • Stake some #ctp tokens when you earn them
  • Engage and interact with the posts that you find on ctptalk.com. You can login with your hive keys or using keychain.

Thank you, @achim03.ctp

I appreciate this welcome to the community.

I'll get started :)

Hey, @achim03.ctp,

I'm not very familiar with the Steemit/Hive transition, so when I tried to sign up in ctptalk.com, it goes to a Steemit login. Is this normal? or what should I do?

Thanks in advance

Hi,
That's not how it should work :-). Are you using Hive keychain?

image.png

If so, make sure to tick "use keychain extension".

P.S: I just saw in discord that the programmer of the website has some problems but it might be unrelated :-).

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