I passed a milestone in my Zing holdings recently and I'm quite happy about it so I thought I'd share.
In other places it seems normal for creators/founders to just give themselves as much equity or tokens as they want. Feels like we've completely shifted away from checking early distribution on new tokens and just ignoring it.
For example coins like SOL that were sold to VC's early and cheap, then probably offered to exchanges as launchpools as well. This is the norm these days and there's very little information on most tokens distribution by design.
Naturally, these tokens get manipulated and retail, i.e. regular users get taken advantage of.
Of course, not all of them turn to dust straight after the first pump, but many of them do.
All you need to show is one unique solution you either solve or attempt to and have connections in the space and money. Feels like instead of spending that money to buy into their own tokens, they use it to matchmake trading pairs or pay exchanges to list them or pay influencers with reach on web2 to shill them.
I like that hive is quite different, at some point I've even wondered if projects like the above would want something as transparent as hive - my guess is that they wouldn't.
Here people can track the distribution of my tokens Zing and POSH for instance and verify that at no point have I given myself coins just because. I've earned it alongside others by putting some skin in the game, either in the form of hive power delegations or by purchasing alpha vials.
Somebody contacted me on Discord recently and had this to say, I'll censor the username cause it's a DM and I didn't ask permission to share before writing this impromptu post:
If they want they can let us know in the comments who it belongs to. Either way-
We've tried to be as fair to people helping crowdfund the project and I've personally tried to make sure that early and long term supporters don't feel cheated on. I've been doing this by supporting the price of Zing over time which has not been easy to say the least during these rocky markets.
Some may argue I'm doing this to manipulate the delegation APR offered by the project, but for many months now it's been underperforming curation rewards, i.e. I haven't "pushed" it past just to attempt to lure in short term delegators with some quick and easy profits. I also haven't really taken part in the liquidity pool which currently offers the highest APR compared to staking and delegating:
While this may change at some point, what I'm trying to say is that I've been going the long-long route in investing in the token.
Our focus hasn't been on Zing doing well, it's been to build a game people may enjoy and a universe unique to itself with many unique characters and creatures that people may like participating in and being part of.
While market conditions have definitely made things difficult for us, we're still standing and with the help of the DHF are continuing to progress on our game.
Before the DHF proposal, I've mostly spent hive on buying vials because that was something that directly benefited the project and brough funding to our developers. Delegations are nice but with a declining price in Hive it's been rather unstable and there's not that much delegations one can amass for many reasons.
I have to admit buying vials with the price of hive hovering around 20-25 cents hurt, because like many of you I also love Hive and would like to see myself as a whale at some point in the future, but I've tried my best to diversify into Zing and make sure it keeps going even if it hurt my Hive wallet.
Eventually however the price of hive dropped so low that it's becoming quite impossible to keep funding the project while at the same time building your hive stake. It's also taken a mental toll on myself seeing the biggest of the few crypto eggs in my basket become so small, but it is what it is. Hopefully we can only improve from here on out and that our countless efforts come to fruiting eventually.
Anyway, I'm thankful to the people who've supported projects I've started and while I still have to continue to grind it out, I do hope they become bigger over time and make it worth everyone who participated, or at least ended up having some fun playing the game once it's launched.
I know it's hard to trust people these days, the "web3" space definitely makes it hard, but I like that on Hive we can hold people accountable and somewhat better trust in them with our value and hopes and dreams.
Either way, I reached 100 million zing recently on all my accounts which is roughly 25% of the total distribution. Before you call it centralized, remember that there's no governance voting with it and I've had to buy into it much like anyone else could and has the opportunity to. That's something 99% of the rest of projects can't say the same.
And what I love about crypto..
"It's also taken a mental toll on myself seeing the biggest of the few crypto eggs in my basket become so small"
Just wait long enough and it will come back up. Like when Ethereum goes under $2k and everyone loses their shit..
Just play the long game and you will get your $$ back (well assuming the project/token isn't total horse shit which I don't think Holozing is so you're good 😀)
To me it's either successful or not, I.e. I won't be looking at selling my zing if it fails. It's the least I can do, now I may not be able to buy the rest of 75% off of everyone if it completely fails but you won't see me dump into others at least.
yeah no, even when projects fail.. I like to keep the tokens. It's a symbol of being apart of something for when it was alive at least.
So you won't see me selling my 0.0000000000001% share of the ZING I have hahaha
I guess the price of zing will rise up once the game is released and more use case will pop up, burn and such
I'm staking the zings while I get them, to be ready for the game launch, let's see how it goes
Oh and I'm waiting someone to come and say "omg he's dumping the milions tokens!" as soon as price rise and you sell some for any reason
Haha yeah if I sell it'll most likely be for hive or to buy cheaper after, but not really planning to sell too much off of it, and if it does get to a point where it's successful I think myself and anyone else should be able to sell without anyone questioning it considering how it's been distributed and how some like myself have been forced to buy more than they should to support development.
It has been fun getting in on the ground floor for support and see the transparency not only in the token but getting development updates right from the source. I figure I would grant myself an initial stake in advance for all of the effort, attention and investment I would do but you have not. Makes me second guess my notion.
Anyhow, I am just scrapping for a million the slow and hard way and looking forward to using that stake in game for some fun and community.
Thanks again for all that you do.
I'm not completely altruistic, I have been counting the hours I put into the project much like our devs and other helpers do. Although I haven't paid myself fully - not even close - I reserve the right to do so once funding is a bit better later so that it works somewhat like a DAO.
I don't reckon that happening any time soon, though. Web3 gaming has had quite a bad year in general and even if we launch and people like it and more money comes in there's so much left to build!
We are just buying when most are selling. Thus is the opportunity in a bear market.
100 million is very impressive and I wish building my meagre zing stake is something I had the funds to look into.
Hive price drop is taking a mental toll on everyone I think.
Dang, here I thought I was doing pretty good with my stake. I guess I didn't buy any though, so that makes a difference. Congrats on your milestone!
Thanks!
Congratulations for reaching the 100 million zing benchmark.
Congratulations on your zing milestone man!
I'm at 650k zing myself and hopefully I can reach 1 million soon haha.
Congrats bruh!!!✨
thx!
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STOPVery nice! If it was easier to invest i would! Im reinvesting all rewards though. Im renting my splinterlands assets to earn Dec which i convert to zing as well.
Congratulation ♥️ my target to stake 1M zing ,buying weekly ,hope I'll achieve