I Joined SIM Millionaires' Club...

... or as it's been rebranded, the SIM Club.

Following some interesting comments on my post from yesterday from @dagger212 and @forexbrokr, I decided to jump at this and have at least 1mil SIM.

Here's a paragraph of what dagger212 said that finally convinced me:

Of course, the giveaways would be nice, but I need to actually have a SIM Power above 1mil, and that takes time to change because of the 30-day average.

But the HIVE rewards part is what got my attention even more. I already received HIVE rewards from my SIM holdings in the diesel pool, because my SIM Power was above 8k, but they weren't breath-taking. However, he mentioned a few HIVE a day, passively.

And I have a HIVE Power goal for the year-end, so any additional HIVE helps me toward that goal.

So, I decided to move more funds from outside the ecosystem inside. I used them to buy almost 1mil SIM (minus what I already had), and the matching SWAP.HIVE I needed for the SWAP.HIVE:SIM diesel pool.

It'll take some time for the average to reflect that I actually hold over 1mil SIM and be considered a SIM Club member, but I'll still take part in at least 70 days of those giveaways (from 100). Here are the details, if you don't know what I'm talking about.

But besides the giveaways (substantial, but random), I will hold about 0.3% of the global SIM Power, which at today's HIVE rewards mean at least half a HIVE daily. There are 141 days remaining until the year-end, so that means 70+ HIVE only from these rewards (if everything else remains constant, which it won't - one thing I'm sure of is that I'll compound my SIM rewards to increase my share of the pool).

Given my HP goal, am I not worried that impermanent loss could lean the balance towards SIM and I would potentially lose SWAP.HIVE, if I'll withdraw liquidity under these conditions? Normally, that would be a point of concern. But the dynamic of these rewards is interesting, as @forexbrokr gave me the idea. If SIM is dropping in value, it means some people are selling larger quantities. If they are selling that will reflect in their SIM Power and they will receive lower HIVE rewards. If I am holding (and potentially increasing because of compounding) my SIM Power, I would receive higher HIVE rewards.

If, on the other hand, SIM's price gains compared to HIVE, then the reverse should take effect. More SWAP.HIVE in the diesel pool due to IL and potentially lower HIVE rewards if the SIM Power of other holders (of those who push the price higher) increases over my own.

This dynamic of the rewards (paid in both SIM and HIVE) keeps the price of SIM relatively "under control" over time. Unless both SIM and HIVE go down in price.

Looking forward to seeing if I made a good choice by pushing this limit to become a SIM Club member, particularly from my HP goal perspective.

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