Usually you wouldn't really care when people delegate or undelegate from projects, but since this is my own I just wanted to give people a reason to it and maybe at the same time a reminder on how things work with the project's funding for newer readers or returning ones.
I've been delegating anywhere between 100k to 150k to @zingtoken for roughly 2 years now, since the token launched. This was one of the main ways to crowdfund development of the project.
Back then Hive was doing a lot better sitting at 30-35cents if I recall correctly and Bitcoin and Ethereum were making new waves of all time highs so hopes were that Hive would follow suit, which it unfortunately didn't. We always wanted to add another, more direct way to help crowdfund the game but didn't wanna ask people for their liquid crypto until we were sure the project was going to work and was going to be finished. This depended on some of our Hive devs remaining with the project so we didn't have to look for new ones who'd need to catch up on things and more importantly, our game dev to see things through no matter how many complicated things I threw at him to add to the game.
Luckily after a year or so things looked more stable in terms of development and our devs were going to be around and that hasn't changed, thus we launched the sale of our Alpha Vials, a.k.a. starter "packs". (It's important to note here that Holozing is not a Trading Card game, although cards will be used in one way or another and trading will be possible, the gameplay isn't going to happen with cards on a board like what's expected from TCG's)
[Artwork by @craizuss]
Okay, so we've now gone through two of the methods to fund development, delegating hive power to @zingtoken and buying alpha vials. Both of these options give crowdfunders zing tokens as rewards in exchange for their donations. We've adjusted which one gives more over time to make things fair based on the value of Hive over time (delegations) and the cost of alpha vials being in USD rather than Hive.
Other ways people could have gotten involved in Zing are:
Adding liquidity to our Hive-engine Liquidity pool.
Staking Zing.
Earning Achievements.
(indirectly): posting in our community and using the hive rewards to swap for zing
Okay, so this is quite clear at this point that we've mainly relied on Hive to fund development for the project and we hope that over time when the game is launched and development continues it will make up for the sellpressure of Hive we've attributed to.
Now back to the title of this post.
While delegations help fund the project, currently the price of zing is below the price of earning curation rewards from holding Hive Power yourself. Meaning, if you simply curate with your HP and don't vote on stuff that's going to get downvoted, on average you earn about 8.5% APR. Due to Zing's lower price at this point, delegating your HP to zingtoken (which means you won't get curation rewards from the delegated amounts (however you will still get Hive Power APR for holding HP (~3%))) the amount of Zing and it's value in terms of Hive is about 3% lower than if you simply curated. This means that it is worth more to just curate and then use those rewards to buy zing as you'd get more zing for your hive than delegating.
It's important to also note that undelegating takes 5 days for your HP to reach back into your account, so by undelegating now and then curating with the HP you receive back would take another 7 days until the additional curation rewards start coming in.
Anyway, so while my plans to undelegate may take some future crowdfunding value away from the project, I plan on buying zing directly with the extra curation rewards while also continuing to purchase alpha vials since they're coming to an end here shortly. By buying zing from the market, I may be able to increase the price of it so it'd give the delegators more value back compared to what it does now.
Anyway, that's pretty much it, I plan on delegating to @ocdb in the meantime so I get more daily liquid Hive to spend on Zing and vials!
And no, it's not because I've "lost faith" in the project, which is probably the main reason to writing this post that I wanna make clear. :D
If you check out a few of my accounts, like this one, you can see that I have quite a bit of Zing on hive-engine and keep buying more!
Thanks for reading!
Hi @acidyo, I actually took my time to read the white paper and I actually loved everything there. Was well written and I understood, the only obvious issue is the project is behind time which I understand as these things takes time and of course, the end can justify the wait. I’m also glad it hasn’t launched yet as I have enough time to buy in and understand the game.
I almost did make a post about certain things and my suggestions (but maybe I’d keep that for later) however, I think I’d enjoy playing the game.
You wrote some things about credibility some days ago which made me discuss this with a friend, that’s not popular anymore in crypto these days. Even if I see it, I always think of it as reverse psychology before the rug. However, your consistency and the way you hammer it signals that aside the effort you put in the game, you really care about your reputation.
Back to why I commented. I and my friend plan to actually invest by actually providing liquidity (of course with little money). I feel that (NFA) there is a 5x to 10x lurking somewhere if I keep some money in zing for months. Especially when the game kicks in and I hope and I’m happy I’m early. Community backing is all it takes. We can have another splinterlands promoting Hive in zing!
Hey, appreciate the comment and feel free to post about your thoughts and ideas any time in the community, or if you think it's something you don't wanna share "for free or openly", then my dms are always open. I try to read most posts even though it's mostly fanart these days since the game hasn't launched yet.
About investing in zing, for me it's quite a long term thing, similar to hive in a way but that's one of the reasons I consider the hive I've spent on it as "locking up hive" because I don't see myself unstaking zing anytime soon unless some drastic moves happen as you mention here to just trade with a % of my holdings to potentially get more zing or sit in hive for a while. Why I mention this is because we, the project, are not too focused on the price of zing at this time, sure we're not going to be negligent about it forever, but our main focus is to just keep developing the main game and potential future games and other things that go with it over time. Thus early on, whenever we have extra income it goes into savings to spend on future developers or bring in more developers. We do however have plans that if/when the time comes we find ourselves with way too much funding, either through web3 sales/fees/etc or web2 revenue streams, then we will definitely rather burn zing to reward early crowdfunders and the community than overreward workers with web2 things like CEO bonuses, etc. We have the ideology to pay flat-fees to employees, meaning everyone, even myself included, earns the same amount with tiny newyear bonuses here and there for sticking to the project through the hard times and we intend to keep it that way.
So while the future is uncertain, we definitely won't forget the early crowdfunders and have been trying our hardest along with the fair launch of the token to keep donations happy with APR's so their entry to the project and game remains as low as possible being in it longer while keeping first timer costs high in the beginning of the project to avoid bots/abusers/cheaters to attempt to game the ingame economy.
Makes sense, better to adapt with the market than just let the value go down. Buying zing direct with curation rewards sounds better long term, still supporting the project but also not losing out.
Take care and keep safe brother.
it makes sense under every aspect, like this you can even help more the game itself, more "revenue" from curation more zing/vials you can buy... after all time and money invested would make no sense to abandon the ship of course
This will actually give a good perspective about how delegation works. Appreciate the clear breakdown of how things work! Really well-written! 🌷
Give it a little time and the real world will cotton to the fact that crypto is far bigger than BTC or currencies in general. The fact that Autonomi is finally online should, over time, be a wake up call. Prices will rise.
For those that don't know, Autonomi was conceived around the same as BTC as a partner in the grand decentralization project. Autonomi (Known as Maidsafe back then) as a replacement for the internet and BTC its currency.
maidsafe is still alive? hadn't heard about it in forever
Yeah, it sort of got lost in the mists of time as everyone focused on BTC. Go to the autonomi site - There is a lot of spin there but it's interesting if you read behind it.
Should open up crypto a lot more.
Even though I'm not a zing holder (yet) I appreciate the openness. It got me thinking a little bit about delegating to crowdfund projects, tokenomics of such reward tokens and HIVE inflation. Very fascinating stuff, I'll have to take some time to wrap my head around it entirely, so thanks for the food for thought
I'm not very familiar with all the technical details about healing or how delegations affect projects, but I think that if we all keep creating and expanding Holozing, that will be the best thing, and who knows, maybe more helpers will come to the cause
Given the present market situation, i think that focusing on curation seems like a more favorable option for the time being.
It's great that you're explaining every new development openly, transparently, and honestly! The price of Zing may increase depending on its usage in the game. The game may require and create other tokens besides Zing.
Thanks for the info. I pulled my delegation back a bit once I hit one of my long term goals for the ZING token.
Thank you for the explanation. I appreciate when I can understand what is going on. What you did totally makes sense.
Gonna be honest here I'm still shocked the game hasn't launched seems like a year overdue now?
Yeah well, quite a small team and limited funding may do that.
WOW😮😮 it looks really cute and ready for action, nice artwork😀👌👍
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all good! nice and smart plan. and that girl's costume and gun are sooooooooooo cool!
Hello, I'm supporting your project from my little space and I'll continue to do so. I know you'll soon be able to show it to everyone.
It is really difficult for you to support your interest and efforts from two years and find the main ways for crowdfund development but you have easily delegated it collectively. This is a great thing for sir. But buying alpha vial and delegating that power is great. Holozing is not a trading card it is really reliable. But getting 3% APR through delegation will really be a big support for the future. Thanks for making this wonderful information beautiful
I always appreciate your hard work thank you so much for you sir.
Best regards @mdakash62
My great support for your project, I hope your goals are soon realized, steadily as they say in my country