What is Hive SBI?
Hive Stake Based Income (Hive SBI) is an account-based curation program. You sponsor accounts for regular ongoing curation, and then you receive back curation rewards as upvotes on your own content. This empowers both accounts to earn a sustainable crowdfunded basic income.
Stakeholders can choose to tokenize their voting units into HSBIDAO tokens and receive their curation rewards as HSBIDAO dividends instead of upvotes. Hive SBI maintains a buy-wall for HSBIDAO on Hive Engine at 0.475 SWAP.HIVE.
Million Unit Milestones
One week ago, @ecoinstant sent this screenshot and encouraged us to share an update celebrating the major milestone.
We knew there was a big pass-through pipeline (new unit creation for immediate tokenization to fill the current HSBIDAO supply shortfall). The total could have dropped below a million again immediately, so we chose not to post.
Could we have been any more wrong?
We're up another 53000 since then. On top of that, more than 50k voting units have been converted into HSBIDAO since the announcement of the HSBIDAO:ECOBANK LP three weeks ago.
That pool has soaked up roughly 200k HSBIDAO units since launch! That's more than 2/3 of our 292k HSBIDAO issuance. On top of that, ECOBANK in the pool has gradually rerated from its launch price lows up to very close to NAV estimates. That's a major win for ECOBANK holders in need of an exit path.
We're thrilled to celebrate this million unit milestone along with ECOBANK's early LP success.
HSBIDAO and ECOBANK context
The biggest whale in Hive SBI is @ecoinstant, and he holds... a lot. He also runs the ECOBANK project, in which @josephsavage is a big investor. These facts serve as context, but also as disclosure for potential conflicts. Nothing in this post should be considered to be financial advice.
Other projects?
@lbi-token has recently launched an HSBIDAO:LBI liquidity pool. This pool is also whitelisted for holders to receive HSBIDAO curation dividends directly to their wallets.
Who else could benefit from this arrangement? Any new HSBIDAO liquidity pools need to be manually added to our list. Due to the cost of creating LP's (which ECOBANK paid in this case), this is not an ideal arrangement for most projects.
If your project has substantial overlap between stakeholders, and the token has similar capability to look through LPs (or has no need, as in this case), then it could be a viable candidate or something similar. If you already have deep orderbooks or deep liquidity pools, there is minimal benefit to establishing another.
If you think your project is a good candidate for look through liquidity, let us know and we can add your LP to our list.
Two more projects have already expressed interest in creating LP's in the near future.
Hive SBI Enrollment
To curate accounts using Hive SBI, enrollment is pretty straightforward:
Just send 1 HIVE to @steembasicincome. Include the name of a Hiver to sponsor in the transaction memo (preceded by @). You and the person you sponsor will each receive 1 voting unit in the program for each 1 HIVE. You can sponsor any active Hiver (except for yourself); it does not have to be a current member.
This is an open-access program. You do not already have to be a Hive SBI member to enroll. You just have to sponsor another Hive account.
The official currency for enrollment is HIVE. HBD transactions are only accepted for auto-transfer functions, not for member enrollment. Enrollments are processed automatically every 144 minutes.
To tokenize your Hive SBI voting units, send 0.001 HBD per voting unit to @steembasicincome, with sbi-tokens in the transaction memo. There is a minimum transaction size of 0.005 HBD, and anything smaller will be ignored. This will transfer your voting units to @sbi-tokens and it will issue HSBIDAO tokens to you in return. If you send more HBD than is needed, the excess will be refunded to you by @sbi-tokens.
If you have questions, please ask in the comments section or join us in our discord channel.
You can check your member level at https://www.hivesbi.com/ or view our new reporting dashboards. The new dashboards also include your HSBIDAO token holdings.
Nothing in this post should be construed as financial advice. Hive SBI is an account-based curation program, not an investment scheme. We designed it to provide additional incentives to support others with ongoing vote support. If you're only looking for 'returns' there are lots of options on Hive that outperform.
Congratulations @steembasicincome! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 280000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
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Congratz on your milestone! :D
Quick question, would it be possible down the road, to burn HSBIDAO for "old" HSBI upvote shares? :D
That's good growth. From One to millions. Awesome
!BBH