Some things have changed for LBI lately, in terms of our asset base and direction. This post will cover off some recent updates and then hopefully I can get the full update post out tomorrow (or maybe Monday) with the specifics.
HBD shuffle.
After chatting with a few people on discord, it was pretty unanimous that it would be a good idea to shift away from HBD as our back up store of value, in the short run anyway. HIVE was drifting ever lower, and it felt like the HBD peg breaking was approaching inevitability. We held 1000 HBD directly in savings, and another 1000 as EDSD (a fully HBD backed part of the @eddie-earner set-up). Both these were withdrawn back to liquid.
The EDSD withdrawal completed, and it has been trickled into a few things, but mainly SWAP.BTC. The HBD from savings was (mostly) converted using the blockchains conversion method. The crypto gods blessed us with favourable market moves (Hive went back up a bit) and the value of that conversion ended up being 130 HBD (Hive equivalent) more than we started with. Rather than just adding that gain into assets somewhere, I decided to sent it out as a one off bonus dividend to all LBI holders.
Check your Hive Engine wallet, you should see a little extra SWAP.HBD from that bonus drop.
More BTC.
The main goal of the shuffle was to increase the BTC holding we have, as a hedge against HIVE dropping lower. BTC is the best store of value in crypto (arguably) and when everything looks doom and gloom, I'd rather be sitting on BTC than HIVE or HBD or whatever. We have built up so far to 0.0123 liquid SWAP.BTC in our main wallet, plus a little more in the LP with cent, and some P.O.L. in the LBI/SWAP.BTC pool.
Overall now the portion of our funds assets in BTC is over 10% now, and likely to add more. I still have 5000 liquid HIVE and 600 liquid HBD to work with.
HSBIDAO.
We have been doing very nicely with HSBIDAO. The pool with THREE (in the @lbi-three wallet) has been experiencing significant impermanent "loss" which is actually a good thing. As THREE is bought out of the pool for burns, our position gains significant HSBIDAO (which is the yield bearing token). This wallet has been a bright spot for us. Not necessarily in terms of $$ value, as HSBIDAO is a HIVE pegged (ish) token, but in terms of token growth. I have finished making this wallet fully self sufficient by powering up some of the liquid funds from the reshuffle so it now has 15,000 HP.
THREE.
The @three.legacy game itself has had it's economy kicked into activity by the introduction of much improved autonomy. Economic activity in the game feeds into token flows and greatly increases the pace of THREE burns. For those that are unaware, the THREE token was fully minted on day one, and most game activity ends up burning THREE supply, making it quite different to most games that inflate their token away.
Despite the recent baby boom and overall burst of activity, we have retained our number 1 position on the leaderboard, but a number of accounts are rapidly closing in. I have used profits to buy a couple small packs to keep us on top, but we will undoubtedly be overtaken at some point. @abrockman did overtake us a little while ago, until a purchase of birth tokens put us back on top.
Guilds are coming to the game as the next major update (no timeline yet). I do think that we will set up and lead a guild. What I am thinking is to make a requirement to enter the LBI guild being a small holding of tokens in the LBI/HSBIDAO pool. Something around 20 LBI paired with HSBIDAO minimum requirement, just to show commitment to the position. I won't be worried about the size of your THREE account in game, just want to build a guild for LBI holders really. As top of the leaderboard, I am wary of building a guild stacked with top accounts to dominate too much, the game needs balance and LBI has an important role to play to ensure we don't become a problem for the games growth.
Anyway, with guilds on the way, if you want to take a look at the game and have not yet joined up, here is our referral link
Liquidity.
The amount of LBI in the pools has been solid lately. 11.2% of all LBI are held in pools, which gives decent liquidity to the token. My main goal would be now to grow the depth of the SWAP.HIVE pool, and for it to take over from the LEO pool as our deepest. HSBIDAO also hold nice depth and is neck and neck with LEO pool for liquidity.
I have in the back of my head a plan to cut costs, for both the weekly dividend payment and also for liquidity pool rewards. Having to constantly buy BEE to renew pools is an expense I'd like to avoid if possible. I've got something in mind, but it is probably a few months off.
Rewards for the SWAP.BTC/LBI pool have just been renewed.
Here is what the current performance of the different pools looks like:
Well there you go, I think those have been the main changes over the last couple of weeks. Hit me up in the comments if you have thoughts or questions or concerns at all.
Sorry, it's a fairly wordy post, but I just wanted to cover off some stuff quickly. Thanks to those that expressed thought in discord about the move from HBD, I thought it necessary but didn't want to pull the trigger without opinions of holders.
Here is what our current asset mix looks like. This little HIVE price increase in the last few days has pushed us back to $9,500 total fund value. It will be interesting to see where we go from here.
Thanks for taking the time to check out this post.
Cheers,
JK
@jk6276 for LBI.
A little footnote: we are completely sold out of LEO now. Our LEO premium runs out in two weeks and that finally link to the LEO eco-system will be gone. If LBI holders want to keep a connection to LEO, the LEO/LBI pool will remain active and supported as an option.
There is one more release before guilds that is waiting on some front end work (the backend is in place already) that will generate individual colors for every alien, along with the ability for players to name their aliens. That might be a chore for a large household like yours, but it will create some fun narrative possibilities.
And then yes, guilds (no timeline, but we are working on it already). Guild member caps will generally grow pretty slowly (their blueprints will be pretty easy to get, but planning office levels are always a limiting factor). You have a strong head start on planning office levels, so you will probably be able to grow your guild member cap quite fast.
Guilds can be setup as either open access or application required, so setting yours as application required would allow you to gate it based on whatever criteria you want. Using yours to help LBI holders get a strong start is a great idea.
Honestly, the best configuration will be for each guild to have a whale anchor, surrounded by minnows, unless they want to challenge other guilds with development contests where size is an advantage. Within a guild, workers attempting to read blueprints or build will use idle residence slots from smaller guildmates with extra before using their own slots (and part of the burn will go to their guildmate instead). This lets the whale use their own slots for quests, while providing their smaller guildmates with an extra stream of THREE in-game that can help them make faster progress on growing their households and unlocking the various different blueprints and buildings.
There is some sybil risk, but we think it's a powerful way to help smaller accounts grow quickly without costing the larger accounts anything extra.
Some of the guild buildings that will be available later will have powerful benefits that might be worth creating a whale guild to level up more quickly, but we think the benefit of borrowing extra worker slots from small guildmates will be more valuable. We will keep an eye on that balance as new features are added to guilds over time. Right now we're just trying to make it more fun and engaging, and we think guilds are a big step in that direction.
Also PVP will be non-destructive and opt-in, though a later release may have guild leaderboards with scores based on PVP challenges completed instead of strictly based on household size. Guild leaderboards are not planned as part of the initial guild release.
You should drop the neoxian tag for tribes (which allows you to earn some bee)
I like the idea, but I wouldn't use Swap.Hive. I think there's too much counterparty risk; it's better to hold Bitcoin directly on Layer 1. That would truly be a store of value.