dCITY update - Changes to DIVS - read on for more info bros
Hello to all the bros, @brofund is going ahead strong, everything is clicking, and divs keep coming day after day. As your dCity manager, I have been doing my best to get the most from our dCity investment, even though we distribute the SIM income every single day. That means we have not been able to reinvest and grow, only adjust and modify.
And today I would like to announce a huge modification -
SIM divs will cease starting today!
Its not as cataclysmic as you might think, but we need to take some time to reorient our selves and our strategy with regards to this game.
First, with all the new updates going on in dCity and its related defi foundational platform being built up (check out the new BeeSwap), its important to note that we do not think that dCity is dead. In fact, the returns are pretty great, but the meta has shifted towards holding SIM, and since we have been paying SIM dividends, we've basically gotten bubkiss to show for it, all you BRO holders have got everything! So either you sold it or hold it, but it was in your hands.
Looking at our options, @raymondspeaks and I decided to take a different tact, to sell off our city for SIM, and pool that into the Liquidity Pool (swap.hive:SIM). Holding SIM is paying HIVE rewards (100+% apr at todays prices), plus liquidity providers are getting paid SIM, BEE and soon to be BXT.
Our plan is to accumulate a position in the liquidity pool, and start to pay out that SIM to you BROs. We will keep the HIVE, BEE and BXT to grow, for now at least this is the plan.
I took the first step today and moved all the cards over to @brofundholdings. SIM divs will stop, yesterday was the last time, for a bit, while we get everything organized.
You may notice that @brofund has some of the earliest cards ever printed! I will do my best to sell off our assets for great prices, and not rush the sale as to lose value. Now is a good time to sell for SIM, since we will get more SIM for our tokens. I will also do my best to maintain a working, yet shrinking, city on the @brofundholdings account while we are selling off, this should maximize returns in both the long and the short term.
I hope this transparent update let's you know exactly what we are doing with @brofund's funds, leave me a question or comment down below and I will be sure to address it!
