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SEED Holdings Report #22 - Project owned HBD/SEED liquidity & more updates

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empoderat
@empoderat
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GM everyone, finally it's time for an update!

I've been thinking about a few core changes to our overall working structure (and still dubious about a few ones), but since it's time to make the holdings report, I'm disclosing them anyway. As you may notice, the portfolio has taken a hit, and even with my best efforts to hedge with stables we're several % down from the mid 300K$ value.

On the other hand, we would never have managed to reach these values without taking some risks before, and we're almost back to the point where decided to make the 'DAO bet'. Let's recap.

  • Now @seed-treasury owns most (+80%) of the liquidity from the HBD/SEED pool. That equals +5000 HBD and +2350 SEED in hands of the treasury itself.
  • Currently, the HBD/SEED pools is paying a 7,8% APR (paid in HBD!) to LPs. My reference is the 12% of savings but anyway I'm pooling the rewards slowly (basically when I have some spare liquidity).
  • Since the portfolio is taking a very decent hit backward in terms of mcap, I've decided to get rid of the 'PCV' section of the portfolio (at least temporarily).

Apart from that we keep on our mission of solidifying the portfolio with stablecoins and other income assets. This is how we're standing at the moment.

Liquidity in hands of the treasury, what does it even mean?

Exactly that! Since you're all a pretty stubborn crowd and almost no one wanted to cash out his SEED earnings (something that I expected to happen and it didn't ''haha f*ck u empo''), I've 'almost' been forced to provide the liquidity myself (because let's assume, we'll need it sooner or later).

The top 20 SEED holders have +500 SEED each. NO ONE of them has sold! In practise it means that If I want to buy SEED from the open market (low amounts) I have to pay a +50-100% premium.

This is bad for multiple reasons, but the worst one is 1) it's very difficult for new people to step in and 2) also very difficult for current holders to get out.

Friendly reminder that 99,9% of Hive-Engine tokens face this problem, and another friendly reminder that you can always reach me and I'll buy back your SEED (not the most convenient way, since we have a lot of money locked, plus the friction of reaching to me, etc...)

The simplest solution has been to simply sell some SEED from me to the protocol, and the equivalent in HBD. I've been doing this in small amounts every single time, never forcing SEED to drop below its 'backed value' (which is the sum of all the values of the assets in hands of the project treasury).

Now, @seed-treasury owns around 2350 SEED, which basically means that 2,35% of the total supply is in the Pool and in hands of 'everyone'.

Some thoughts about HBD & SEED

My initial vision for SEED has always been to interact with HBD as a sink. Lately, I see HBD as the 'killer app' for HIVE and the feature which once polished will unleash the true potential of this platform.

With SEED, we're a little step closer. And this is my way to contribute here.

Currently, we own +23000 HBD in Savings and +5000 HBD in the diesel pool paired with its SEED counterpart. 1000 HBD have been pulled into the 'distribution contract' to pay for LP's. 80% of these rewards are slowly flowing back into the @seed-treasury acc (since it owns 80% of the pool liquidity).

We're very close to the HBD position which we had when we decided to make that YOLO bet and go all in into DAO. Do you remember, anon? check this post. We own 28000 HBD at the time of writing, back into that day we owned 31K HBD. Incredible how time flies and circumstances change.

Regarding the PCV.

As I said before, I didn't want to sacrifice the growth of the portfolio and for now, I'm putting the PCV model in the box temporarily. (I don't need a salary of a few hundred dollars, and as I told in this same post and the project itself 'bought its initial liquidity'). If I need some liquidity for my own personal reasons I'll sell whatever I need to sell.

Current SEED Stats:

Circulating Supply: 100.000 tokens (full released) @seed-treasury owned: 2380 (2,38%).

AUM Value (All assets): 220.000$

SEED TOTAL Value: 220000/100000 = 2,2$ /SEED

229/7 = 32,7% MoM profit

And here we go with our seventh month! Have a great weekend :)

100% of blogging rewards paid to @seed-treasury.

Remember you can follow the portfolio in real-time here:

https://cointracking.info/portfolio/seedtreasury

You can join us on Telegram and follow me on Twitter.

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