Update
In 2024 we invested in other games and chains such as Guild of Guardians, Hunters on Chain and Nine Chronicles just to name a few. In the end we believe the best way forward is to support Splinterlands, and as such we are selling most of the other assets and buying more SPS, this is due to the following reasons:
The team behind Splinterlands and the DAO are ready to scale, this has been the biggest accomplishment under Matt’s leadership.
DEC will hit PEG shortly because there are only 1.3 billion DEC in player/market accounts. The new set in April will require a minimum of 3 billion DEC. Even with burning CL cards, we will need to burn SPS for DEC sooner rather than later.
New mobile app, this is the key to unlock new players and growth.
With 1.6 billion SPS in circulation, 900 million staked and 600 million liquid, we forecast the price of SPS will go up to 2 to 3 cents cents in the next year with only $1MM entering the ecosystem.
DRIP Changes
We plan to move to a NAV (net asset value) valuation for 2025, there will be a more regular treasury report once we have cleaned the older assets during Q1. The original idea for the token doesn’t work to be able to scale it, we need a more “standard” approach.
We have stopped distributing daily SWAP.HIVE and will only give out SPS
Staking rewards are not changing.
We plan to sell the rest of the 4th tranche at NAV, with Thorlock and Gondonar planning to buy most of it, since we want to invest more funds into Splinterlands.
We will as well put a buy wall at the NAV price for people who want to exit the investment, although there is $30k in funds in our LP so we already have very healthy liquidity.
We believe these changes will help us grow our treasury and return more value to our shareholders in the long-term.
What is Hive DRIP?
DRIP is a crypto-coin on the HIVE blockchain that invests into GameFI projects, which are projects that combine gaming with blockchain technology. We believe this will be one of the top growth areas in all of crypto over the next 5-10 years.
Source - main diagram: NewZoo, Blockchain games part: researchandmarkets.com
Daily Payout
We pay out SPS every single day at 12:30 AM UTC. We also reward .025% of staked DRIP daily at this time as well.
Staking Rewards
You'll receive exactly .025% of your staked DRIP tokens rewarded daily in liquid DRIP coins. Coins paid out are liquid so you'll need to stake them daily in order to keep compounding your rewards.
You can follow this guide to automatically restake them:
https://peakd.com/keychain/@keychain/hive-keychain-v26#auto-stake-tokens
Ex. - If you started with 1000 DRIP staked, you'll receive .25 coins the first day of staking rewards. If you then restake those coins, you'd earn .250625 additional DRIP the next day.
https://tribaldex.com/trade/DRIP
https://hive-engine.com/trade/DRIP
Our Staking Reward Perks
I posted this on our discord and we've already started staking rewards for certain tiers.
1+ DRIP staked - earn .025% daily in more DRIP tokens. This is a 9.5% APY.
1000+ DRIP staked - New role called DRIP Challenger. Auto staking script available. We now have a rewards bot where only DRIP Challenger roles can enter for daily reward payouts (currently 500 daily LOOT). There's also a bonus in LOOT coins when you sign up for A Pirate Saga.
10000+ DRIP staked - A new role called DRIP Contender. Access to hidden rooms, see real-time trades and participate in important decision making via our Board Room. More perks in the works.
Investment Thesis
We prioritize smart, systematic, high-growth opportunities bringing the rewards back to token holders.
Purchase Tokens
Tokens can be bought directly from hive-engine or tribaldex.
Latest Posts
Follow along for all our latest posts here:
https://peakd.com/@hivedrip
https://inleo.io/profile/hivedrip/blog
Offical Links
Official Website: https://hivedrip.com/
Whitepaper: https://hivedrip.com/index.php/whitepaper-drip/
PeakD: https://peakd.com/@hivedrip
Buy DRIP coins: https://tribaldex.com/trade/DRIP
Discord Link: https://discord.gg/rMdAAe4jKp
Free Hive Wallet: https://hiveonboard.com?ref=hivedrip
First of all, the transparency from the DRIP team is admirable. You guys do a great job of that.
But if the fund is essentially going all-in on a single token, then the value-add from the fund structure is limited, since token holders can get simply get the SPS exposure more directly without overhead or third party risk.
Perhaps consider waiving the management fee, or using for DRIP buybacks, until you are in a position to deploy capital in a manner more consistent with the stated investment objective?
Exactly, it's a bit of a weird turnaround from the original goal and I (and imagine many on hive) already have a lot of Splinterlands exposure. Mostly was sold on the fact I can't keep up with all the other stuff but can sort of do that through drip..
I'm not even playing Splinterlands. I was at first, but it's simply too static for me and hasn't got an element that was able to keep me interested.
!BBH
not very happy about that news, as I see Splinterlands not moving forward with their land development for quite some time now
There is a dedicated developer now and land 1.75 is expected within the next month.
Does that make drip basically a derivative of SPS?
Thank you very much for the update.
Nothing wrong with scaling back on some speculation and executing a less volatile strategy.
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Earn Crypto for your Memes @ HiveMe.me!
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I support heavy investment into SPS/Splinterlands as I do think that is one of the biggest projects with best potential in GameFi overall rightnow.
Sounds like you go All-In with just a pair of 2's.
Really generous "Blockchain Gaming" forecast. I have seen too many "Blockchain Games" rising and falling (failing) to believe that, even if Splinterlands is one of the few longer lasting successful games (so far).
Also, I'm not too happy to "bet" on a single horse. But well, it's not a democracy.
Let's see what happens next!