This is a post by @hoosie, using an alt-account. This is an update on a tribe token experiment I started on the 10th of Nov 23. This experiment is designed to use a number of techniques to see if its possible to grow an account fairly organically, including:
- Delegating tokens to tribe curation accounts,
- Delegating HP to curation accounts that provide drips in the target tribe tokens,
- Via posting experiment updates in the relevant tribe accounts,
- And by using portfolio rebalancing (inspired by the XV token project from @spinvest which uses portfolio rebalancing to take profits).
I also use Inleo for posting updates, as that should also provide a small boost to the amount of LEO token income, which is one of the 8 targeted tokens in the experiment.
You can check out the initial post that explains it all here.
Rebalance Update
This is an update following a rebalance. ** If you want the short version - skip to the summary section (section 10) at the bottom !**
1 - Starting Position (change in basket value since the last rebalance before doing anything)
The table above shows the starting position for this rebalance, the new number of tokens (before the rebalance is undertaken, and spare HIVE is sold to buy more tokens). The table also shows the new token price, value and percentage weight of the tokens in the basket.
The additional tokens gained came from a combination of:
- Tips made in the comments of the previous rebalance post (0.1 ALIVE this time - it all counts),
- Tribe tokens gained from tagging the relevant tribes in the previous rebalance post (using the tags; #leofinance, #aliveandthriving, #pimp, #pob, #cent, #neoxian, #inleo, #hive-engine, #tribes, #hive),
- And, tokens gained from delegation of the tribe tokens held. This worked OK, especially the new delegation of ALIVE to @gestion.alive,
- I should start to also get some tokens from HP delegation which I've now started, but I dont think I've delegated enough yet for that to kick-in.
As can be seen in the table above, the basket value increased by a small amount (0.124 HIVE) due to the increase in price of PIMP (50.87%), CENT (28.24%), POB (12.16%) and BEE (10%) since the last rebalance. The PIMP pump was pretty impressive. These increases really helped noting that the price of ALIVE dropped -30.82% and CTP by -57.90% in the same period.
2 - HP Delegations
In the future, there may also be some income from HP Delegation. I didnt get much from my last post payout, so I didnt have any additional HP to delegate this time.
The table below summarises the planned delegations and accounts to be used:
7 accounts paid out in the period, the only one I dont think worked is the delegation of CTP to @lolz.ctp. I'm not surprised that it didnt work noting that CTP appears to be dead now. The new delegation of ALIVE to @gestion.alive worked really well, which is great.
I now need to consider dropping CTP from the project completely.
3 - New swap.hive to invest
As this experiment is only about the 8 noted tokens, all other income and tokens were sold for swap.hive to be re-invested in the tribe tokens. This came from:
- 50% of the previous week's post payout in HBD was sold for HIVE - it was quite a poor payout so this only contributed 0.071 HIVE (but it all counts),
- And, selling off other layer-2 tokens, of which there was much more than normal to sell for a total of 0.188 SWAP.HIVE - the highest to date.
That gave a new basket balance of:
4 - Rebalance Calculation
The 'total value to rebalance' figure from above was then used to calculate the new number of tokens that should be held in the basket, if spread evenly across all 8 tokens - see table below. The column second from the right titled 'difference from above' states how many existing tokens need to be sold (if the number is negative) and how many new tokens need to be bought (if the number is positive).
If tokens need to be sold, then it means that token price has done well in the period, and the rebalance acts to effectively take profit from the gain in that token's value in the period, so that it can be used to buy more of one of the other tokens that has had poor price performance in the period (ie, to buy more tokens at a bargain price).
The table above also shows the price change in the period. LEO, PIMP, BEE and CENT were over allocated, so I sold what liquid amounts of those I had. I then started by purchasing ALIVE, but made a mistake and used all of my SWAP.HIVE to by ALIVE, so ended up getting more than double the amount I needed, and then didnt have anything left to buy anything else. Its fine, it happens, and to be honest, I'm always happy having more ALIVE !
5 - Actual Rebalance Result
As guided by the table above, the following action was then taken:
- Sold tokens that needed to be sold,
- Bought tokens that needed to be bought.
N.B. Due to the time it takes to un-stake tokens (if needing to be sold), and the difference in buy and sell prices, it may not always be possible to rebalance the basket exactly as planned (and that certainly was the case again in this period). Although over time it will average out, so that it should not be too far out. And as the curation income grows, so too will the liquid amounts available each period, at which point the rebalancing will work better. As such, the following table presents the totals after undertaking the actual rebalance, with the aim of trying to get as close as possible to the planned rebalance numbers.
From there - all tokens were staked, and delegated to the noted accounts.
So the rebalance worked fairly well I'd say even if it was only for small amounts. It was good to be able to sell small amount of LEO, PIMP, BEE and CENT at good prices, and then pick-up ALIVE at a bargain price, so the method worked as it should.
That completes the rebalance process for this period.
6 - Summaries
The following table presents the summary for this rebalance:
The following table presents the summary from the start of the project:
So overall there was a small gain of 0.380 HIVE which is pretty good considering the current layer-2 market conditions (I was expecting a loss) !
**7 - Method Assessment **
The table above attempts to summarise how the various methods have worked in the period, and rank them in order from best to worst (top to bottom). Its hard to capture the exact values from each method making a contribution, but it gives a rough idea of how its all working.
- The change in the basket value dominated the gains due to the nice increases in PIMP, CENT, POB and BEE,
- For the first time, selling off other spare non-target tokens made more of a difference which was quite nice to see,
- The curation payouts from token delegation also figured more highly than normal, which was also good to see.
8 - Change in Basket Value
So this rebalance chalked up another gain which was great !
9 - Gain/Loss Assessment
I've updated the gain/loss assessment. The rebalance method (due to token price increases) is now equal with previous post payouts as a reason for making a gain during a rebalance. I also had to add lines for selling spare tokens and token delegations for reasons for gains for the first time, which was nice to see, that shows that some of the other methods are starting to kick-in now.
10 - Summary
An overall gain of 0.380 HIVE is totally fine under the current market conditions. It may seem hardly worth doing, but I genuinely enjoy this experiment, so thats the reason I'm doing it - plus it supports curation of all of the tokens, because they all get delegated to a relevant curation account.
It was great to see such nice pumps in the price of PIMP (50.87%) and CENT (28.24%) which really helped, and that illustrates exactly how the rebalance method works.
It was also great to see the ALIVE delegation to @gestion.alive working well, so I was also pretty happy about that.
Each rebalance is proving to be quite interesting because of the number of different factors that can affect the outcome, and none are ever the same. This is certainly keeping the experiment refreshing for me, and as usual, its great to see the overall number of tokens continuing to grow.
That wraps up this rebalance. Heres looking forward to the next rebalance already !
Details about my alt-account
This is a post by @hoosie, writing on an alt-account that I setup purely by accident when I didnt know what I was doing during my first few weeks on the Hive blockchain ! I thought I was getting an actifit account for my main hive account, and instead bought an entirely new actifit hive account, that I've rarely used ! I have used this account for the experiment because it basically had zero value in it (well about 1-2 HP worth), and importantly very little layer 2 tokens, and hence it acts as a clean slate to properly track progress for this experiment.
Requests to be tagged in the report
If you want to be tagged in the report so that you know when a new one comes out, let me know:
@fantagira, @tydynrain, @shanibeer, @new.things
Posted Using InLeo Alpha
Great work and analysis. Is it the author income causing the high returns so far? Passively I wouldn't expect them to do so well . Hopefully we will see a bounce back in CTP and ALIVE.
In the early rebalances it was mostly the author income causing the increases, but now its fairly balanced. In this rebalance it was mostly token price gains (CENT and PIMP) that caused the increase.
And yes, I'd love to see ALIVE and CTP coming back to life.
I had my alive delegated to heartbeatonhive I think it is paying out as more tokens seem to roll in. I forget how to check. Either way I started delegating some to geston as well to see how it goes.
!ALIVE
!PIZZA
I changed because heartbeatonhive wasnt consistent (I know it takes a lot of work, so I'm not having a go at the person involved). So far I was quite impressed with the gestion returns (quite a bit more than I was expecting).
!ALIVE
!LOLZ
!PIZZA
!LUV
$PIZZA slices delivered:
hoosie tipped new.things
new.things tipped hoosieboy
@tydynrain(2/10) tipped @hoosieboy
Congratulations on a successful rebalance, @hoosie! I'm glad to hear that the delegation to @gestion.alive worked well for you!
There aren't a lot of working tipping tokens at the moment, but I'll see what I've got! 😁🙏💚✨🤙
!LOLZ
!PIZZA
!VSC
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