Let's Clear Up The Reward Distribution
There's been a lot of confusion surrounding the rewards distribution for the SCV token so we thought it best to get things clarified for everyone. The total % going back to token holders is actually 80% not 60% as 20% is added on to liquidity and price appreciation. The rewards split is as follows:
60% - Token Holders
This amount will be split equally between token holders.
20% - Token Buybacks & Token Floor Price Increase
This amount will be used towards creating full liquidity for token holders, once full liquidity is reached this amount will be used to raise the floor price of the token buybacks. SCV token is available at 0.01 hive per token and this will be the initial floor price for token buybacks increasing thereafter.
Example: Let's say there's 1 million SCV in circulation and we reach full liquidity at 0.01 hive = 10,000 hive. All rewards that come after this go towards increasing the floor price, so let's say we add 1000 hive to the token buybacks then we have 11,000 hive / 1000000 = 0.011 hive per SCV token.
20% - Management Fees & Team
This amount will be used to pay for hosting, team, fees etc.
Join The SCV Community
You can buy SCV today from hive engine or tribaldex.
https://hive-engine.com/trade/SCV
https://tribaldex.com/trade/SCV
Thanks for this team. It has been confusing for people to understand that it's actually 80% not 60% to holders through the price increase.
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From what I read it's only SPS tokens going back to token holders? What's done with the vouchers earned and possibly more in the future for running a node? Will those also be split up at the 80/20 rate or will something else happen with those rewards? Is this also a single node?
Hi
Vouchers are only earned by staking sps.
We will be using the sps to purchase the node.
If there is any extra sps which is staked and earns vouchers then the vouchers will either be distributed or if the amounts are small we will sell convert to sps or dec and then distribute accordingly.
Initially it is a single node and we may be looking at a secondary depending on the success of the first. Depending on number of votes we can get and where we rank.
If we can get top 10 then a secondary is a possibility
Good stuff thank you!
How do you define "full liquidity"? Is it when you can cover the sale of all outstanding SCV at 0.01, if everyone would sell at the same time and no one want to buy? In reality it could very well be that people want to pay more, let's say 0.015 and as long as other players put in enough buy orders higer than 0.01, you don't need much liquidity.
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True however we just do things lil differently will drop a post later explaining and tag you in
I look forward to the post about liquidity. Tag me for that post.
!PIZZA
Back of the napkin math would be 10 years to cover existing tokens. Are tokens burned when bought back?
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Thanks for the update. I am looking forward to the launch.