The Creative Coin Fund Investor Report: CCC:WIT Liquidity Pool Has SWAP.MATIC (Polygon) Rewards

in Creative Coin2 years ago

Welcome to the Creative Coin Fund Investor Report.

We're back from our 3-week publication hiatus with big news: Creative Coin has a liquidity pool!

Traders can now swap Creative Coin and WIT by using the CCC:WIT liquidity pool through Tribaldex or BeeSwap. The pool pays daily SWAP.MATIC rewards to liquidity providers, at a current average APR of 190 percent.

Read on past the delegation report for our full story.

Since the beginning of our publication hiatus on February 21, five new investors have joined our delegation team and 23 have increased the size of their delegation. Our total delegations now stand at 1,891,409 CCC from 129 delegators.

No new delegators have crossed the 10,000 CCC delegation threshold to become eligible for our CCC-WIT-CCC payout trifecta. Remember, if you delegate 10,000 CCC or more to the Creative Coin Fund (@cccf), you will receive WIT and Creative Coin as a delegation payout, and a second CCC payout for your staked WIT.

Here's our current list of delegators and the payout they received this week. Names in bold indicate a new investor, while names in italics indicate an increase in delegation.

InvestorCCC DelegationDelegation PayoutStaked WIT Payout

Thank you all!

If you haven't delegated to us, and would like to, please review our delegation announcement post, as well as the CCC-WIT-CCC update to our payout structure.

The APR for CCC delegations to @cccf is variable (based on the average monthly price of CCC): the rate for March is 26 percent.

Market Updates

The purpose of the Creative Coin Fund is to provide the artists of Hive with a substantial CCC upvote, and to make that vote meaningful by supporting the steadily rising price of Creative Coin.

We're supporting the price of CCC with three mechanisms:

The daily market purchase is a market order for CCC of 10 to 15 Hive daily.

  • Through March 24: minimum 10 Hive

The base buy-in order is a limit order meant to establish the price support for the market. The buy-in order is updated weekly on Thursdays.

  • Current Price: .003700
  • Order Size: 238 Hive for 64,409 CCC

The daily limit order is a buy set daily at a price above the base buy-in order.

  • Monday's Price: .004000
  • Order Filled

We received our regular biweekly fiat contribution on March 10. This is our mid-month contribution, which provides Hive for the buy-in order for the next four weeks and the daily market purchase for two weeks.

We have 70 Hive budgeted to add to the buy-in order each Thursday through March 31. We have 13 Hive for the daily market purchase and the daily limit order through March 23; currently we are using 10 Hive for the daily market purchase and 3 Hive to place the daily limit order.

We're also now active in the WIT market, siphoning some of our Hive from token sales into a daily WIT limit order, since we can now trade WIT for Creative Coin when we need the CCC liquidity.

We continue to post a D.Buzz each Thursday when we set our new buy-in price. Investors are invited to check for our buy-in price in the D.Buzz or this Investor Report to avoid selling to the buy-in. This allows us to build the support (increase the order size) and steadily raise the CCC price each week.

The CCC:WIT Liquidity Pool

Our most ardent supporters already know about the new liquidity pool for Creative Coin and WIT, since we posted a D.Buzz announcing the pool when we created it at the end of February.

Last week, we added 100 SWAP.MATIC to the pool as rewards for liquidity providers. Initially, the average APR for liquidity providers was over 1500 percent! That fell quickly as people joined the pool: the average APR is now 190 percent.

The distribution contract we purchased to provide rewards to liquidity providers runs for 100 days. We will be adding more tokens when we can over the next 100 days, most likely around the time that we receive our biweekly fiat contributions. Our goal is to maintain the average APR at over 100 percent, which will keep the CCC:WIT liquidity pool in the top tier of liquidity pools on Hive.

In addition to the daily rewards, liquidity providers will earn the .25 percent transaction fee charged by Hive Engine. The fee is not distributed daily like the LP rewards, but added to the provider's liquidity in the pool until it is withdrawn.

There is a 1 percent daily bonus for liquidity providers as well. Each day that you provide liquidity to the pool, the number of shares you have in the pool is boosted by 1 percent: if you provide liquidity for 5 days, for example, you will have earned a 5 percent bonus.

Why SWAP.MATIC? MATIC is the native token for the Polygon network, which now includes PolyCub. Transaction fees on the Polygon networked are charged in MATIC, and MATIC can be swapped for PolyCub or pLeo on the Polygon network. We hope to hitch a ride on the PolyCub train and attract new investors to Creative Coin and the CCC:WIT liquidity pool, as well as award longtime Creative Coin investors with a token that is necessary for their PolyCub investment.

The CCC:WIT pool is available on Tribaldex or BeeSwap.

Building the CCC tokenonomy

The CCC:WIT liquidity pool is the first of many the Creative Coin Fund would like to create. Liquidity pools are the future of cryptocurrency markets (actually, they are the now of cryptocurrency markets, while traditional order books are the yesterday). Creative Coin has to be involved to remain viable, and we're thrilled that we were able to, um, dip our toes in the water with this first liquidity pool.

And anyone can do this!

Anyone with a Hive account can help build out the CCC tokenonomy by setting up a liquidity pool through Tribaldex. No special permission is required from the token issuers or owners. It cost 1,000 BEE and takes about 5 minutes to do. The pool is operated and maintained by the Hive Engine team and requires nothing from the person setting it up.

Simply choose a token pairing that you think would enhance the value of Creative Coin (or a token that you'd like to trade with), plop down 1,000 BEE (less than $500) ... and done!

In addition, anyone can create a distribution contract to provide LP rewards for a pool that has already been created. The distribution contract only costs 100 BEE. So, if perhaps you don't think SWAP.MATIC is the best token to offer as LP rewards on the CCC:WIT liquidity pool, you can choose another token to distribute as an award.

We really aren't trying to badger anyone into doing this. We do think this is an exciting opportunity for Creative Coin investors to enhance the value of the token they've invested in. And it's a lot of fun to see in operation and to use when you are the one who created it!

A Final Tidbit of Good News

The average price of Creative Coin rose 3.88 percent in February compared to January, from .00371375 Hive to .00385785 Hive. That's the third month of rising averages in a row!

Consequently, following the plan laid out in our delegation announcement post, the variable percentage rate for delegations to the Fund has been reduced by 1 percent, to 26 percent, for the month of March.

The APR will be reviewed again on April 1. If the average price rises again, the rate will be reduced by 1 percent; if it decreases the rate will be increased by 2 percent.

Thank You

Thank you all for reading. It's great to be back!



Fantastic progress! Thanks for all the hard work!