Incredible Progress on our Fund!
Thank you to all participants and holders of INCOME token, we have come a really long way in what seems to me like a really short time. INCOME entertainment Fund is a project of my own design, and thus very close to my heart. Today as the Fund officially enters its Beta Phase, I will be addressing the issues of 'What is INCOME' from scratch.
I haven't done much marketing yet besides posting because I don't believe in selling first and building later. We keep building our business and network, and will be leaving an ample window for those that take notice to buy into the fund at reasonable prices.
Why didn't you wait for SMT?
Depending on your perspective, this question may affect you in different ways. Steemit INC's promised development of Smart Media Tokens appears to be creeping ever closer. This looks like an improvement over the current steem-engine offerings in community Proof of Brain distribution, and possibly some other features (which we won't know until they actually release). Thus, naturally people ask me why not wait.
First and foremost, there is no need to wait. INCOME is the simplest form of token, a tiny bit of ownership. It needs no more features than to be assigned to a specific #STEEM account, and STEEM-ENGINE can do that now, for ~12 USD. Enough said?
Steem-engine may have to rethink its pricing model on middle services like the community features, but they have new NFT features coming out and I think they will remain viable and competitive in several side-chain niches on steem and off, including quite possibly the basic token.
If INCOME ever feels the need to switch protocols, the profits already made within the fund by not waiting could cover those costs.
What is SBI, why are you involved with it?
INCOME token holders will receive their dividends in something called SBI, or @STEEMBASICINCOME units. This is an incredibly well-designed fund-style program run by a friend of mine, and I could take the space here to explain all the reasons why it was chosen for dividends. But I don't need to.
Introducing Dividend BUY-BACK fund
Any SBI holder with more than 25 units will be able to cash in their units for 0.45 steem per each, which is a 10% haircut to how the fund values them internally. INCOME token holders will be given priority here. Currently the entire process is manual, please contact me on steem @ecoinstant or in the SBI Discord.
Now there is no excuse, high ROI and liquid dividends paid as frequently as monthly to INCOME token holders!
Aren't Lottery miners just a whale's paradise? But isn't your model also bad for whales? Who is this good for even?
INCOME can currently boast a ~50% percent global APR, but to understand how it works and where is the best place to hold, you might want to understand the dynamic probabilities involved, right?
Ok, perhaps not. Lottery miners naturally favor whales, but I designed INCOME to be fair to all by implementing follow on draws each day. Each day @quintaesencia is all but guaranteed to win one of the draws, since it owns almost 80% of the fund. But once it does, it is out for future draws that day, instead of taking 80% of the wins each day like with other lottery miners. Instead of raw returns, investors gain stability within the fund as the move up in holdings.
This internal functioning is complicated, and I am currently looking to make it easier to understand with a visual webapp; but this extra bit of leverage allows me to keep returns quite high for partners in the Fund.
Automagical Services and a Council of Heroes!
On top of the solid foundation of a working, profitable fund, we are building even more. A steem-as-a-service business, called Automagical Services and another more secretive project, working title Council of Heroes.
A solid token with a responsible economy is just the ground floor of what we can do. In order to move the world, Isaac Newton only requested a place to stand and a long enough stick - because he understood the power of leverage. #steem2020 has the potential to see strong teams form and go on to change the world, for who is left here besides us builders?
I have been reaching out to heroes across the blockchain.
Checking our previous Roadmap, we can see that we have come along nicely. 10,000 tokens have been sold out for a while, and the tokens have been allowed to appreciate along with the ABV.
ABV, or Asset Backed Value, is a figure that marks, roughly, the amount of steem that backs the fund, which produces the dividends. Our current ABV of the fund is north of 1.2 steem, the market price is listed at 1.15 steem, and we can expect that growth to continue with or without further token sales, both from fund management and from the profitable businesses built thereupon.
We are up to 6 draws daily, so keep that in mind as you calculate the most profitable amount of tokens to hold.
The big thing on the list is the upgrade to post quality. 2 new automated posts have been made, with a third under construction, but the full deployment of these different posts within the same daily draw is not yet complete. This is a required step for us to move to 7 daily draws.
Now it is true, there have been downvotes by a single individual whose reasons are known. There must be some capacity for disagreement, since there is no space, time nor funds in the account accounted for convincing or bribing downvoters.
While it appears that @ecoinstats is taking the downvotes on behalf of the investors, this does pose a slight inconvenience for our project, and I have decided just recently to respond with an additional 3000 SBI units on the account. I will continue to keep an eye on the situation as the INCOME entertainment Fund moves down the runway.
The INCOME token mining as part of the ULTIMATE SELFI BONANZA has come to an end, but there will be another round of project mining in a future SELFI contest, possibly as soon as this spring! Anyone reading this post, I appreciate your feedback.