So a lot has happened over the last week.
Most of you will know by now that we lost the 300,000 HP delegation. This at first caused a lot of fear, confusion and instability regarding BRO and the future of the project. To clarify, I would like to set the record straight once and for all.
The 300,000 HP delegation was a gift. Had I known (or my delegator known) that there was an upcoming bull-run then I think both of us wouldn't have taken on the delegation. He is still working with me towards the future, and like everything in business I take nothing personally. I just move forward with the tools that I have. Had there been a written contract in place, that may have been a different story. But as a gift, I just need to pick myself up and move ahead with what we have! Which is actually quite a lot so far.
The aim of this project was to give coin holders a share in the wealth that we were creating for ourselves. But since we lost our delegation then we had to bolt on a few quick fix's until we solved the immediate problem in front of us. Ultimately, we will still continue to release dividends daily to our coin holders and pay that through the profits that dCity will give us. You should not notice much change in dividends unless you buy or sell BRO
Furthermore, as a quick solution to the rapid decline in dividends were I to release more BRO, the coins on the market currently will be the last to be sold for quite some time. I do not, right now, have the justification to sell more than 20,000 BRO as it stands. Once of course we grow to a sizeable fund, then I will look at releasing more BRO to the public, and yes, as promised I will value them at 3 Hive per Bro. Depending on what happens in the coming months, that could be either soon, or far away. We will have to see.
Think of your Bro as limited edition for now. That way we get to both protect your stake in our project and similarly protect your dividends.
As it stands right now @brofund has 74,000 delegated hive (which I have paid for out of coin sales) and this will remain with us for 13 weeks until I refresh our contract. I will keep and eye on this and barter for more or less in the coming weeks/months depending what we spend versus the rate that we will grow at. Brofund will continue to curate and a vote from us is just over $1.00 currently.
Where we're at?
Right now Brofund has the following on & off-chain assets:
- 11,449 swap.hive
- 1,014.837 Hive
- 2,835.417 Staked Hive
- 74,316.828 (Delegated Hive)
- 34,992.668 Leo
- 575,950 Neoxag
- 87,194.396 Pal
- 25,867.1 Hive (estimated dCity worth)
- 303.6 SpInvest
Offchain:
- 5,870 Hive (equivalent worth)
Our growth over the last 7 days looks like such:
We are staked and curating in the tribes, and as a bonus you will get our tribe dividends also. Great, huh? :)
My main aim for the Brofund over the next few months is to grow it as much as I can. I'm happy with the delegations we have and I will continue to monitor our growth over the next several weeks and make changes accordingly. All in all, I'm looking to benefit the community and the token holders. As @chronocrypto said to me yesterday. We can only grow more from here. He's so right, isn't he?
Probably the announcement you were waiting for here: Where we're going.
Okay, so we've started development on our next phase. I actually think you guys are going to love it. The team behind BRO will be spearheading the development of this. We are a lovely mix of technical and social -- you can probably guess already who will be doing what!
Providing there are no setbacks then we will be ready for alpha testing in about a months time
Alpha testing community will be my bro-dudes and dudettes of course! You guys get to test it out first, and you will be rewarded accordingly.
What the project will be: I really can't give away much to this but what I can say is that we are creating a second layer dapp that will plug IN to hive. Let's just say we are tired of dapps FOR hiveans. That's all I can say. You can guess amongst yourselves!
Basically to run this project we will need quite a few communities. Think of us as the people that get to test drive it, and secure our place as a community inside the dapp.
It's not much to go on I know, but just know that you're going to love it. And furthermore, anything I make personally from it will be going straight into the brofund pot.
Thanks for the update ❤️
No worries ude :)
Pretty cool to have an app to plug into hive. Looking forward to that when it comes!
I’ll see if I can get a couple more tokens, I bought like 1.6 but I don’t have a lot of available hive here and on hive engine.
Enjoy. Yes I'm sure you guys will like it :)
What a wonderful update infused with truth and transparency.
Thank you!
Love this. Wishing you guys all the best.
#BROholder here.
The only direction from here is up.
That is always encouraging.
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Hi @brofund, you have received a small bonus upvote from MAXUV.
This is to inform you that you now have new MPATH tokens in your Hive-Engine wallet.
Please read this post for more information.
Thanks for being a member of both MAXUV and MPATH!
It is great to see the next phase started.
Any estimate at the time frame even if it is a "throwing dart at the wall" type of guess?
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A month. It's as near a guess as I could get. We've started, but I don't like to "pin it" yet because there's still a few things we need to iron out. Ask us again in a few weeks. We'll probably have a clearer date by then :)
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STOPTo support your work, I also upvoted your post!
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Support the HiveBuzz project. Vote for our proposal!
Thanks for putting together an update like this @brofund / @raymondspeaks. I hope you will continue to do that, as we look forward to what you and your team have envisioned for "Phase Two!"
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Thank you! You're going to like it :)
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BEER.Keep up the Great work @brofund! I love the great will to move into the future with confidence. You have my support.
Thanks ecoin! Oh what will the future bring, huh? :)
Even without the delegation the project will keep going forward.
absolutely :) - onwards and upwards
Often when I invest, I invest in the person behind the project! Perhaps that is being a bit optimistic, but I don't think so 🤔
Any new business will have setbacks (unless you are extremely lucky). The most important thing is how those setbacks are dealt with. Honesty earns trust & respect!
You have my full support Ray, and further more I am extremely happy with my current and future potential ROI 🤑
Onwards & Upwards we go... 🚀 Well done BRO 👏
You invest like I do my friend :)
I’m adding a couple brocoin tokens everyday. Looking forward to hitting that 100 mark.
Nice :)
Bonus money is always a bonus. Even if the amount is reduced, it is still a bonus. Everything is better than nothing. So, I will hold my Brocoin even if the bonus money goes down.
Exactly :)
Thanks for update and transparency 👊 Depending on what APR you got on the delegated stake it can be hard to earn profit on that unless you're a curation machine. Regardless it is nice to have a fat vote to drop on community content creators. Onward and upward bro's.
Yes! I'll be keeping my eye on that in the coming weeks! Whatever the case we'll see what we can do :)
Still excited to see such a huge stake taken in LEO.
The community is perfect for the fund side of the Bro project.
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I've always loved leo. Our community was borne out of neoxian-city and we are all really pro leo lol - expect more stake to come ;)
Bro, nobody cares about the 300k delegation. I didn't invest into BroCoin cause it had been borrowed 300k HP.
You have the full support of SSUK and SPinvest.
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Nice. I'm pretty impressed with you guys I must admit. Your steadfast dedication has put you guys on my map :)
This is a total transparency from the team and we are looking forward to the dapp. When you are good, no doubts about it, you are definitely good. Thanks you so much for the update.
Thank you my man :)
Thanks for this clear and nice update. I guess this update will make things clear for the investors and bring us more opportunities. Cheers!
Thanks bala! Back to building again! This is going to be fun :)
Great. 👍
Keep it rolling @raymondspeaks / @brofund ... Happy to be a part of the exciting project ahead and can't wait to see what you're going to come up with. But so far it does sound and look good to me.
Will be fun! Thanks Hetty :)
What I like this community/project/team, whatever you are saying your actions are transcribing them.
My well wishes for the future.
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May the Hive Power be with you!
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I would like to connect In Discord. Can it is possible?. I have a new post i want to promote my post on your discord
https://ecency.com/hive-174301/@lsdmercyy/anime-art
What is the current utility/future utility of the BRO token?
Is there an opportunity to delegate Hive to the BRO account and receive daily staked BRO? (This will help as it encourages people to post in BRO community as you have a BRO account with large curations. See LEO/Hive Hustlers so you know what i'm talking about.)