As I've been planning my token, I've been considering backing it. Most projects back theirs with HP and other Hive-Engine tokens or crypto on other chains. I was thinking of backing it with silver.
While I don't think many people would be interested in their tokens for silver due to the shipping cost, I could see it being a way to fund buybacks or implement other project ideas. The question will be whether or not people think it'd be worthwhile to do this and use funds sold from tribal tokens to slowly build up a fund.
It'd likely grow slowly, but as the project's H-E token stakes grow, the income from tokens earned through curation will also grow. As an alternative, instead of holding silver the project could just sell off these H-E tokens and keep the liquid HIVE for other things like raffles, @drawmatic shares, HSBI shares or do occasional buybacks.
I'm looking for feedback here, so please let me know what you think in the comments.
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I think this boils down to numbers to get this off the ground.
We need more bloggers which points to getting on board and retaining so were back to our original problem. Etc, etc.
Right now, there's just small, and getting smaller.
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Yeah, good point. Maybe it's best to just keep it to H-E tokens for now.
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I agree with Kerris
Its definitely a dying blogger chain at the moment, needs some serious changes to make this work.
But its a great idea
Hopefully we can turn things around. Lots of people are building things.
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Are you thinking physical silver or some kind of silver trading fund?
I was thinking of physical silver. I don't trust the silver funds.
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With the lack of interest on this platform I’m doubtful it will be worth it. But good luck
Yeah, the general consensus I'm getting is it's better to do something within Hive itself rather than back it with metals. Thanks for the feedback!
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I personally would love the silver option. But it really comes down to how much Hive you need to get it stable and running smoothly! Then again, I'm a silver lover just like you! lol