XV Tokens, What Exactly Are They?
Note: This is my attempt to dissect XV tokens based on my own understanding so DYOR.๐
What are XV Tokens?
You may have read that literally as it sounds in the alphabet, XV (I did that the first time, lol) but it's actually read as 15, X being 10 and V as 5. Simply put, XV is "Top 15."
XV is an investment token issued by the SPInvest team which 'represents' a basket of 15 cryptocurrencies. They are a token of ownership where you (investors) buy, HODL for 2 years and sell them back to SPInvest.
The token sale started on the 1st of March and runs until 10th of May 2023 for the price of 1 HIVE per XV token. Any unsold XV at the end of the sale period will be burnt. Here are other facts about the token:
- Mintage: 1 Billion
- Price: 1 HIVE per XV token
- Buy XV, hold it for 2 years with no dividends or whatsoever then on June 2025, you cash out.
How is that?
SPInvest team will convert the HIVE proceeds from the sale of XV tokens and invest them into 15 cryptocurrencies handpicked by Silverstackeruk from the top 50 ranked on Coingecko (except Tron and Stablecoins), manage them for the next two years, rebalancing will be done every 3-6 months. We, the XV token holders will just let our XV sit in our Hive Engine wallets and wait until June 2025 to cash out (SPI will buy back our XV holdings, the price of which will be determined by the sale of the crypto investments less 5% which will go to SPI Fund).
The process goes like this:
And here are the allocation of the cryptos in the XV investment basket:
- Top 1-3 - (BTC ETH ADA) - 40%
- Top 4-6 - (XRP BNB DOGE) - 25%
- Top 7-10 - (MATIC SOL SHIB LTC) - 25%
- Top 11-15 - (DOT FTM AVAX STX LINK) - 10%
Is there a 100% guarantee of our XV tokens being worth more than 1 HIVE each after 2 years?
None. The buy back price will be based on how the investment basket will perform at the end of 2 years. There are risks associated with it and opportunity costs. So our initial HIVE investment will either multiply or not at all.
Do note however, that the SPInvest team has 4 years of excellent record here on Hive and they run 4 successful projects, re: LBI, CL, SPI, EDS (EDSM, EDSMM). XV is their 5th investment project. So I believe they will act accordingly when the market behaves otherwise.
Check more details and answers to some other FAQs on this post by SPInvest. Better yet, join the SPInvest in Discord.
Personal Conclusion
Me being clumsy when it comes to investing, I reckon XV is going to be a perfect chance for me to co-own top 15 cryptos without the need of personally having to manage them so I'm banking on the experience and record of the SPInvest team. I also like the fact that XV has a set (expected) cash out date (June 2025) so I will be allocating HIVE for this token, buy and forget them for the next two years and hopefully will have a big smile on my face comes June 2025.
XV in my opinion, is good for those who have patience and can HODL long term without getting stressed out.
Opinions expressed on this publication are based on my own understanding so do your own due diligence.
Images courtesy of SPInvest. No copyright infringement intended. 23032023/11:04ph
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