$ZING

in LeoFinance3 months ago

Just a post about general thoughts on $zing and its price.

When we first started out to decide on the distribution, while we understood that it'd be quite complicated and have many different aspects involved which all may affect each other, we didn't think it would be this well perceived. It's been over a month now I'd say where I keep thinking the price should drop but it refuses to, so I'd wanna take the time to discuss some reasons that may be causing this.

Let's look at the basics, the one method that costs people to get involved in zing distribution is Hive Power delegation as they lose out on curation reward APR by doing so. The majority of Zing distribution goes to HP Delegators (200k daily Zing vs 320k daily total). As you know Hive Power is quite limited, only about 50% of all existing Hive is staked and people have been using it for quite some time to delegate to other favorite projects of theirs, so optimistically my thoughts were that we may reach something like 2M delegation and stay there. Although I have to say after the launch of Zing which happened around the same time as Bitcoin and the rest of market started swinging upwards hard and people shouting bull market I was a little worried that it would work against Zing delegations in case people wanted to unstake their Hive in preparation to sell some off in the near future. I guess the same market activity may also have gotten more excited about the project to delegate and participate early more, with #web3 games having quite a lot of potential this time around as the hype is emerging all over the web.

There's a few dynamics at play here the way I see it. There's some FOMO, even though the scope of people who can get involved at this point in time is quite limited (those active around Hive and interested to get involved), many want to be involved because they're "getting in early". This means that distribution has just started, so the pre-determined Zing rewards going out aren't competing against many. At the same time, though, out of everyone who's heard about it and are interested to participate, not everyone has Hive Power. There's a lot of gamers on Hive, primarily due to the ongoing success of the #web3 gaming giant (whether outsiders will admit to it or not): Splinterlands. Something I hadn't looked at before but noticed recently when I started using beeswap is that there's a significant high amount of liquid Hive and SPS in the hive-engine pools, so I reckon these players, aside from splinterlands assets, are more interested in holding liquid Hive than Hivepower. That's also one of the reasons we decided to introduce Liquidity provider rewards, since not everyone is vested in Hive but participating and using it daily, they're now also able to take part in earning daily Zing at the tune of 40k per day.

The reason staking rewards are the lowest distribution of Zing is because that's perceived as the safest method to earn more Zing. Especially when the cost to acquire staked zing isn't that high right now and somewhat safe, i.e. through delegation rewards by delegating your Hivepower riskfree and being able to stop at any time. Delegations have been an investment tool that are quite underestimated in the crypto space in my opinion and it's great to see the numbers of people participating in holozing through it already. With liquidity pools however there's a bit more risk to it because you're placing your liquid Hive as collateral in a way to farm more Zing. On top of that you're also missing out on Hive Power APR by not having it staked, this was something we wanted to combat as well to make our LP stand out and honestly seeing the amount farming trading fees in the SPS pool I'm kind of confused why they don't just stake the Hive (and/or SPS, not sure if there's staking rewards for it).

So the dynamics are, get in early and accumulate a lot of Zing to "safely" earn staked zing rewards to the tune of 20k daily. This is quite a compounding number for those who get in early as can be seen by current APR at something around 100% for staking rewards. Then you have the delegation rewards where people are competing for the 200k daily Zing rewards currently at 70% APR, this one is a bit different cause it all depends on delegations, the more you personally delegate the more Zing you earn and the % takes into effect the price of Zing and how much you're earning in value compared to the 8.5% curation APR. The more others delegate the lower amount of Zing you earn but the total amount of delegation will then also make the Zing base price worth more. For instance at the 3.15M HP delegations right now, the base price of Zing is above 0.00366 Hive per Zing, that's still only 10% of its current price but the more people delegate the higher that base value goes. This of course doesn't mean that the price of Zing can never go under 0.00366, it just means that if that were to happen, you're better off undelegating and earning curation rewards (and buying zing with Hive directly) than earning zing and trading it for Hive.

Lastly there's also POSH, which those who've acquired it early either through sharing, delegating to poshtoken or buying it off the market are now receiving a nice amount of Zing in exchange. This one I'm not going to get into much except mention that this distribution may end sooner than anticapted as we wanted to make posh whole in a value exchange of what it spent on the startup of the game in Hive, but we didn't expect the price of Zing to remain this high for this long which means that wholeness is coming closer sooner and then we'll have to stop distributing Zing to POSH holders. Zing did definitely cause some volume for POSH since its launch and will definitely cause some sell pressure when it stops but hope people won't get too burned on lack of liquidity in that market and instead take it easy and realize there's more to come for POSH in the near future with one additional smaller project than Zing about to start.

Alright so, why has the price remained this high? It's hard to give this a concrete answer but it's probably a mix of many factors. Fomo, longterm mindset of staying invested in the game and wanting to take part as early as possible, anticipating that the team is decent and the game will be great, expecting a working economy where they'll need zing to progress and compete, expecting the userbase and playerbase will grow once the game is released both within and outside of Hive, etc. There's too many factors to count but we can also look at why sell orders occur; there's quite high APR, those delegating are earning 7-9x more hive than if they just relied on curation, those wanting to make longform trades, i.e. expecting the price to go down eventually to use the same hive they are getting from zing now to buy more zing at a lower price later, some who don't believe the project will go anywhere and want the profit now.

I'm personally on the boat where I'm not trading Zing, not because I don't think the price is too high and I've been saying this for a while now, it would only make sense for it to go lower, and not because it would be "a bad look" for the founder to sell the tokens even if it would mean more tokens later but honestly it just feels like too great of a risk for me at the moment. There's no guarantee that the price will drop or drop a lot and even if it did there's no guarantee that I'll be able to buy back the amount I may have sold and the staking rewards I may have lost out on by staying on the sidelines so I'm prefering to just stay invested for now and watch the markets, with some buys here and there because, you know, it's my baby (xD) and due to the way it was launched I didn't assign a certain amount to myself just for the ideas and work that's gone into it these past few months to few years, in fact POSH or Zing won't even pay me for that in Hive like it will other developers and team members, but I'm happy nonetheless to see this project be well perceived and to eventually see it come to life and be played and enjoyed by many even if right now the only enjoyment is through the APR's it's providing.

Anyway, I'm sure I've left out quite a lot more factors but feel free to mention them in the comments if you come up with them when reading this, was just a free-write with some thoughts really but hope you enjoyed it. Thanks for reading.

Images generated with Midjourney for this post alone.

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Zing introduced me to several aspects of the wider Hive ecosystem, I've played Splinterlands since just before Chaos Legion launch, and until Zing my Hive interaction (and frankly interest) was minimal. Limited only to using Hive Engine to buy what I needed and a little Hive staking to give me the resource credits to run my rentals in Splinterlands via Splex.

Zing has encouraged me to explore Liquidity pools and try to learn more about them , as well as peaking ( pun intended) my interest in learning about delegation and things related to using Hive in other ways. I now actively follow some accounts on PeakD and consume content regularly, whereas before I never looked at it.

So, all I can say is thank you Zing, good job, and keep up the good work, looking forward to the game and continuing to expand my Hive interaction ( btw, Zing took my HP from 100 to 1,500,and I now want to grow more)

One thing you don’t mention is the reputation you have here, the example you have set for so long, and how satisfying it is to pay you back by supporting you and something new on the blockchain we have come to call home. It was a no brainer for me and I am not about to unstake to make a few dollars profit when I can sit on it and be a part of the story.

Besides that, the opportunists and crypto stackers have been wowed by the apr numbers that are right in our faces on the rewards page. To those who have been around the block, we know these numbers will normalize but others may feel they have hit the lottery by being early adopters of something new.

Either way, it has been fun being able to support so far and unexpectedly fun in the period before the game is ready.

As a pokemon fan I love this project and more if something like this is created in web3, maybe there is a little hype for holozing but they are doing things right and out of that they have a great team behind both financially and work.
For my part I keep accumulating zing in the pool and in the stake, maybe it will drop a little in price when the APRs go down, but it's normal. ah and I try to promote the project to the spanish public (I'm writing with the translator). . Success

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The value of the ZING tokens, as you also wrote, will go down as the number of tokens in circulation increases, but the current value and its stability shows how solid a foundation the project has:

  • there is no game like Holozing on Hive
  • you and the development team are real Hivers and not developers with 0 HP trying to take from Hive.

Hive needs games with good gameplay at the base because on Hive there are idle/farming games but of games with gameplay there is only Splinterlands.
In my opinion, the value of ZING tokens also shows the desire of game lovers like me to finally have a second structured and playable game on Hive in addition to Splinterlands
!discovery 30

Wow, that was super post you kept in there, yeah I do agree with you too, the price is high because of we really believe in the team behind the game and I personally have is fully in support with your project. I have no intentions of selling my earned zing tokens at the moment or later, because I want to be part of the early participants of the game. I am a fun of gaming and I am really happy to seeing this project grow on the hive blockchain. Again, the hp delegation rewards is indeed much more better than just the tiny curation rewards we would have been earning daily and that is one of the major reason I have delegated almost all my HP to support this project, hopefully when I grow my HP more, I will surely increase my delegation too. You guys are really doing a great job out there, Kudus! to you and your team. I am really proud of your hard work and dedication to this project. 👏🙌

I'm currently enjoying the HP Delegation rewards a lot and Zing staking rewards also, I started unstaking a bit of my ZING to also put into Liquidity pools since the APR there is still so high. I should get my first unstake tomorrow.

I'm glad this project has so many eyes on it and a whopping 3 million hive power delegated.

When I first heard of ZING, I saw it as a potential move for Hivers. This is a good project especially when I read the whitepaper, your inspiration about it was amazing.

I understood all you have written here. In my view, I still enjoy the HP delegation reward I receive in ZING and I do not plan undelegating or even selling my zing now. I want to accumulate a lot for the long term and I will also keep increasing my HP when I have more because this is a big opportunity for those in it. The thing is to get in early and accumulate as much as you can especially with the staked zing. I appreciate you for this project.

This is encouraging, and shows the power of the unique token distribution. It appears that those who believe in the team/game are the ones who are earning Zing. Since they believe in the project, there is no pump and dump moves. Those that have the tokens want to be here for the ride.

I'm part of the many who are anticipating a bright future for zing. I like that you also took the worst case scenario (zing dropping to 0.00) into consideration but somehow, I feel it would never get to that. The team behind the project has worked to hard to allow that happen.

Anyways, I hope this would be a game I can play as I haven't have any luck with web3 games.

It's been a pretty impressive start price wise. And there's sufficient liquidity in that pool already to mean that even a 100K ZING sell off would only have a 5% price impact, and that's unlikely to happen, trends would suggest.

I would say Hivers are Hodlers, but hands up I've been selling into it - now going into the pool, but I've got a nice stash for some cards and to buy back some more Zing laters, possibly quite a bit later though by the looks of all things Zing. I would like a million Zing but my brain-thing tells me the cheapest way to get that is to wait until the middle of 2024!

Sounds like you're going to have a lot of patience, let's see how it goes. :D

My only regret is not to have more ZING to delegate ahahah

Besides that, It's quite amazing how the token is keeping its high value: I based my strategy on the assumption it would have dropped much more, but luckily I changed by plans a bit along the way and now I'm heavily going for the liquidity pool, which should give me some good result untill the prices (ZING and HIVE) are so stable!

Now I wish to be able to buy more POSH if will ever be a drop in price (maybe when ZING rewards are going to end?).

...in the SPS pool I'm kind of confused why they don't just stake the Hive (and/or SPS, not sure if there's staking rewards for it).

Might be because of the rewards they offer aside in the game pools (but not using the normal HE distribution contract).

These APR's used to be much higher in the beginning. For several weeks I recall seeing these at around 60%...

Ah okay ye that makes sense now!

So many good comments here. Great post. All i played was SPL and now that GLG has launched a little gameplay and GO has made me claim daily. Im claiming every hour here on HOLOZING and compounding those rewards. Im currently delegating my HP to POSH @poshtoken Its quite rewarding and i take the rewards and convert to more HP. Its the small steps, 1 foot in front of the other to make it to the top. ZING has taught me very valuable lessons in the crypto space. Thank you @acidyo

Thanks again for these updates and sharing about the ZING$,
I believed everyone is as excited as I am for the official launch of the game! ✌️

The first 2 images you used has some resemblance to Pokemon! 😁
1st: Charmander
2nd: Bulbasaur
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I started to get annoyed that my voting power has dropped so much from delegating to Holozing, so I just powered up another 40k Hive over the past weeks.

I'd like to try for a million Zing. We'll see how it goes!

I just got there, but bought a lot of it.

Yeah, I suck at math so I really don't know which would be the more efficient route.. (delegating vs buying)

As more and more people get involved in the project, Zing's value does not decrease. People are attracted by the trust you and your team build and the long-term rewards you promise. Even though the APR of all rewards such as staking, posh etc. has decreased, it is still at a good level, which encourages them to buy Zing.

ZING is undoubtedly a great bet, as many players have joined and the game doesn't even exist yet, but we are all looking forward to it 😂😂

I see Holozing game as the game of the future and I also hope that it will become very popular one day. We just have to come together and take this game further.

Any other plans for POSH beyond the shuttering of the ZING airdrop?

Yes it has already decided on a new (smaller) project, it'll either be an aidrop or claimdrop as well for POSH holders in return and hopefully more in the future!

Cool!

there's more to come for POSH in the near future with one additional smaller project than Zing about to start

Good to see more coming for POSH, all my Zing is because of POSH, and I would like the reward continue for POSH and not stopped.

The zing token I am getting through HP delegation is pretty good for me. Although the price has come down a bit since the beginning. You have nicely highlighted the reasons behind its price drop and hopefully it will increase in future and till then we hope to stick with it.

The reward on $Zing is just so crazy. That’s a lot mehn so it takes us to take the wise step of delegating our HP so we can earn $Zing
Thanks for analyzing the profit margins for us
I’m sure $Zing is one of the most talked about things in Hive now
I like that!

Maybe it is just amazing! :)

Hehe it's nice to read this candid post! Sometimes you need to give yourself a little credit for these little successes too! :)

the base price of Zing is above 0.00366 Hive per Zing,

You meant 0.0366, not 0.00366.

For delegations to match current price the account would need to have about 30 million hive power which isn't really realistic, but this also shows in a way how zing is adding value to holding/having hivepower.

No I mean, compared to delegations, at the time there was 3.15m delegated which is about 770 hive per day in curation rewards, so 200k zing going to delegators as 770 hive is 0.00366 hive per zing, i.e. a "base" price where if it were to go lower than that you're better off undelegating and buying zing with the curation rewards instead.

OK, my mistake.

No worries, I ramble quite a lot in my posts. :D

YES! May your baby see all the success and may it never fall.. 😉😎👊

Doing good things, definitely see a winner in this

Today @tarazkp also wrote post about zing now I read this from you, now I am going to explore zing today. I am also interested to invest in zing because it's looking promising project

!PGM

Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 1 SBT - 0.1 THG - 0.000001 SQM - 0.1 BUDS - 0.01 WOO - 0.005 SCRAP tokens

remaining commands 14

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

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Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

I'm a bot, if you want a hand ask @ zottone444


These are really great update to consider of. Quite great one certainly

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In most projects, the early birds usually are at a better chance to earning more, it's advised to accumulate more Zing.

So the dynamics are, get in early and accumulate a lot of Zing to "safely" earn staked zing rewards to the tune of 20k daily.

The focus on building a community, fostering early adoption, and creating a sustainable in-game economy appears to be foundational to the project's strategy. Your personal commitment to staying invested in the project and observing the market dynamics sounds promising towards the project.

Thank you for sharing your thoughts and shedding light on the various considerations that contribute to the current state of the project.