Hello SPIers, today we look into an odd thing SPI does that nobody else does. I undervalue some of the assets in our holdings on our holdings report. I do this to keep the value of the SPI token more accurate and stable. Let me explain.
In the last SPI report posted 2 days back, the fund held 357k HIVE worth of assets. 90% of these assets are liquid as in if we have them in our wallet, we can sell them all. If SPI powered down it could sell 80k HIVE easily, sell 1 BTC easily, sell all its LPs, all other cryptos and non-crypto holdings in a few hours.
The assets we hold that I undervalue are assets that have small to zero liquidity. I seem to put them into 2 classes.
1 - Gaming -50%
2 - Dead -100%
Gaming
SPI has a gaming account that is run by @shitsignals and it's been growing very nicely over the past few years. We are involved with alot of games, some of them are running, some are still pre-launch are a few have rugged. When SS sends me over the numbers they are very impressive on paper but in reality, we dont have access to those funds and if we were forced to sell, we could take big hits.
We all know if you hold $10k of Splinterland cards, your not getting $10k for those after you sell them all. In general, from my experience, your biggest hits will come from your most expensive cards because the market of buyers is so small. How many people will have the means and then desire to pay 5000 HIVE for a gaming card?
I undervalue everything gaming related by 50% because there is alot of risk involved and it's not liquid. On the flip side when gaming makes alot of money, maybe SS sells an NFT for 500 HIVE are a new game launch and he adds 2-3k HIVE to the HIVE wallet, that's counted as 100% because its HIVE.
Dead
This should go without saying but other investment-style projects might include dead holdings to beef up the numbers, or they might have simply forgotten about them and bots value their projects based on the last sold prices. I think when a project is dead, it should be set aside and excluded from assets.
Let me give you an example. SPI currently holds 860 VIBE miner tokens. The last sell price for this miner was 0.59 HIVE. This values our VIBE miners at 510 HIVE, the problem is there is zero liquidity and the project is dead. We hold 70k LISTNERDs with a value of 150 HIVE. If a bot valued SPI, our valuations would be way off.
@spi-null is SPI's dumping ground. We hold a ton of tokens that are valued in the hundreds of dollars but they are worthless because they are dead projects. Remember farmfarmerfarmfarm? All those memes tokens, BS airdrops, tip tokens, 90% of tribe tokens, all end up in @spi-null. I have access to this account.
Dead projects will also include a small amount of defi/cefi holdings. As we've moved in and out of different platforms over the past 3-4 years, we leave scraps behind. Sometimes, the scraps are worth a few hundred but normally, these are under $2. These are crypto that is locked or we need to pay some silly tax to sell. I think we took a $1500 hit on Celsius as well (I have a claim logged) but we hold some cryptos that we dont really have access to.
Why do I do this?
My main reason for doing this is SPI offers a 95% buyback. If i am buying SPI tokens back from someone, i dont what to be overpaying for the tokens because ive artificially pumped the fund value with paper profits.
I think a part of my job is to keep SPI as liquid as possible. Part if that is making sure the SPI token price is as close to liquidation value as possible. I know it's highly unlikely but there can always be a run on the bank to test and see if SPI is truly backed and liquid are not. I might say are do something to piss everyone off. haha
Q = Right now, could SPI buy back all 93k SPI in circulation for 3.8 HIVE each?
A = Yep, after 13 weeks and 5 days
SPI is SPinvest's flagship token and I aim for it to be the gold standard for investment tokens on HIVE. SPI is never going to build a defi platform, launch a tribe, create a game, none of that. SPI is an investment fund token. I take your money and use it to make more money. SPI will never be the most hyped or flashy token on HIVE but SPinvest has a set of standards it sticks to with all its projects and that goes from SPI down. These include, fully backed by assets projects, all tokens are equal to ownership shares, weekly reports to show progress, transparency and sustainable/growth roadmaps. Everything is fair and even and everyone's tokens are worth the same.
I kinda need to undervalue and write off some investments when you think about it.
Anyways, what do you think about that?
I have been meaning to write about that for a while now. Not really that important to be honest but something I thought a few would find interesting.
HIVE PUNKS are next on the chopping board currently valued at 3000 HIVE. I think maybe down to 1000 would be better. We actually hold the 4th highest-ranked card out of 10k, lol. The next best example of our card is listed for 9999 HIVE so yee-haaa for us. Anyways, PUNKs will be getting a haircut because there is no market for them currently.
Thanks for checking out this post and i hope you have a good rest of your day whatever time it is for you.
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS mini miners | @eddie-earner | EDSM |
| EDS micro miners | @eddie-earner | EDSMM |
| CUBlife | @lbi-token | CL |
Stay up to date with investments, fund stats and find out more about SPinvest in our discord server
That makes a lot of sense, you never know when one of the Dead ones could come back to life and be revalued. If they don't at least they are already squaring the books.
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Exactly,
Thanks for the feedback and reassuring comment 😀
He-he, I estimate my assets about the same way).
!invest_vote
Not nice having to remove things from your portfolio but better than thinking you false rich
Absolutely!
It's better to let it be a surprise if any of it comes back to life. But that doesn't happen very often.)
!ALIVE
!CTP
!invest_vote
@spinvest! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @stdd. (3/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
@stdd denkt du hast ein Vote durch @investinthefutur verdient!
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CL also have close to zero liquidity or the "sell vs buy" have a big gap :c