Building an SPI token buyback wall - Confirmed Members ONLY - Who's in?
Hello everyone and good day. This post is aimed toward confirmed SPInvest club members but all are welcome to read and see what we are doing.
It is time for us to build a buy-back wall on the Steem engine exchange for the SPI token. Going on the feedback gathered from my post a few days back were i explained the need for a buy-back wall and the 3 ways in which we can achieve our goal, i can see that the most positive feedback came from option 2 which was confirmed members provide the STEEM liquidy for a buyback wall with the incentive of a 5% discount on whatever SPI tokens are bought back.
What is a buyback wall?
A buyback wall is simply a large buy order. It can be used to help bring more stability to the value of a token, it adds more liquidy to the market giving investors looking to cash out an easier and quicker way to do so and in Spinvest's case, it helps us honour the SPInvest 95% buy-back guarantee. I could go into much more detail and talk about other reasons in-depth but these are main reasons put simply. Google search it and read up to learn more, it's interesting stuff but mostly used to manipulate a token/share value in one way for another.
Our main adjective is honouring the investor's 95% buy-back and offering the 5% discount to those that provide the STEEM liquidity
How will the SPI buy-back group work?
As with everything we do within SPinvest, the plan will be simple. The idea would be to gather a group within our confirmed members that would be interested in buying more SPI's at a 5% discount while having no time limit to acquire them. Currently, the sale price of an SPI token is 1 STEEM so our buyback price of 95% will be 0.95 STEEM. We will run either monthly/fortnightly are weekly fundraising posts to keep other members aware of this and keep the new STEEM coming in and the exchange market liquidy topped up. There will be a minimum amount of 100 STEEM required to be part of this. I understand some people may say that number is too big but when investors cash out, they don't cash out 10-50 tokens, they tend to cash out hundreds. A smaller group is easier to manage and in my experience, individuals of a smaller group are normally more committed than individuals from a large group. Commitment is required more so on a project like this as it's ongoing and when the buyback fund is empty, we'll need more STEEM asap with no time to make a collection post.
To answer the question, how will the SPI buy-back group work. We collect STEEM from confirmed members. We use that STEEM to set a buyback wall on the SE exchange at 0.95 STEEM per token. When STEEM is gone and we have SPI tokens, we split the tokens between those who took part dependent on their percentage of the total pool. Nothing hard
Please see the bullet points below for key details
- 1st buyback wall become active when this post ends in 7 days
- Buy-back price will always be set to 95% of SPI token sell wall
- Confirmed club members only
- Minimum of 100 STEEM required
- Fundraising posts offering Paypal as payment
- Buyback members receive SPI tokens after each buyback wall is complete
- Ongoing support maybe be required from time to time in the form of STEEM
- The buyback wall will be managed by sub-account @spi-payments
The Process
This will be an ongoing thing but each buyback wall will have a start and an end making it much easier to track, produce and explain reports and most importantly buyback members understand exactly how it works.
As an example to explain how it works, lets say we collect 950 STEEM on this post from 6 members. 5 members send 95 STEEM and 1 member sends 475 STEEM. This means 5 members own 10% and 1 member owns 50%. I take that 950 STEEM and send it to the spi-payments SE wallet to be converted in STEEMP. We don't pay fees in examples, so we now have 950 STEEMP. I place a buy backorder for 1000 SPI tokens at the price of 0.95 STEEM each. The buyback wall is locked and no new member can get involved.
We continue to collect STEEM from fundraising and those that are already buyback members while the locked wall is being sold out. All STEEM collected during this time will become the funding for the next buyback wall. All STEEM is sent to the spi-payments SE wallet for holding.
When the first buyback wall is sold out and we have 1000 SPI's in the spi-payments account, i send 100 SPI tokens (10%) to 5 members and 500 SPI tokens (50%) to 1 member. This wall is now complete.
Using STEEM funds already collected and in holding in the spi-payment SE wallet, i produce a buy order for 0.95 STEEM.
Rinse and Repeat until forever
Who is in??
Below is a chart that can be used to track fundraising. Confirmed members have 1 week to get involved with this, i think this is enough time to make most members aware and collect enough STEEM to get the ball rolling. If you be ready to pull the trigger, drop a comment below are send me a DM on discord.
| Member | STEEM amount | Paid (Yes/No) |
|---|---|---|
| @silverstackeruk | 500 STEEM | No |
| @stayoutoftherz | 100 STEEM | Yes |
| @partitura | 100 STEEM | Yes |
| @jk6276.leo | 100 STEEM | Yes |
| @taskmaster4450 | 195 STEEM | Yes |
| @flemingfarm | 100 STEEM | No |
| @shanibeer | 100 STEEM | Yes |
| - | - | - |
| - | - | - |
| - | - | - |
Please send STEEM to either @spinvest are @spi-payments. Both Steem and Steem-engine wallets are fine. I'll get it.
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Below are steemconnect hotlinks that allow investors to buy SPI tokens directly from @spinvest. Each token is currently priced at 1.00 STEEM and beside each link is the true STEEM cost to reduce confusion. You can also send any amount directly to @spinvest and i will issue you SPI tokens to 2 decimal places for the value of STEEM to send. All tokens bought directly will be sent to investors SE wallets within 24 hours but most likely much sooner.
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5 SPI tokens - 5 STEEM
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10 SPI tokens - 10 STEEM
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25 SPI tokens - 25 STEEM
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50 SPI tokens - 50 STEEM
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100 SPI tokens - 100 STEEM
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250 SPI tokens - 250 STEEM
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500 SPI tokens - 500 STEEM
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1000 SPI tokens - 1000 STEEM
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2500 SPI tokens - 2500 STEEM
Important Information
| Information | URL Link |
|---|---|
| SteemPower Investments Introduction Post | Click HERE |
| SteemPower Investments Club Partnership Agreement | Click HERE |
| How to become a club member | Click HERE |
| How to convert SE tokens into SPI tokens | Click HERE |
| Join the SPI club Discord server | Click HERE |
| Join the SPI curation trail | Click HERE |
| What's best for the SPI Club? Centralized vs Decentralized | Click HERE |
| SPI tokens 95% buyback guarantee | Click HERE |
| SPI Club monthly Fiat to SPI token group buy | Click HERE |
All questions are welcome, please ask in the comments below
CLICK here for full details about SPI beneficiaries
Show support to SteemPower Investments through it's Patreon Page
I'm in with 95.
Thank you minimum is 100 STEEM.
Your the second person to send 95 STEEM, have i worded the post wrong?
Perhaps I did not read carefully enough. Today I returned from a weeks's vacation and skimmed through a lot of posts. In relation to the buyback wall the words '950 steem' and '10 contributors' stuck in my mind and i did the math from that. Never mind, I'll add the remaining 5 Steem.
Might need to go and edit this post a little as I'll be using this is a reference post for people asking about beneficiaries in future.
You might have sunstroke, i think '950 steem' and '10 contributors' was in another post from a few days back. In the example on this post, it's 950 STEEM with 5 people going 95 STEEM and 1 going 475 STEEM. But it makes sense if you've read through 4-5 posts at once and the got mixed up. lol.
Thank you for the time to get caught with us at SPinvest, i hope you had a nice holiday and you are well-rested.
I'm in - just sent 100 to @spi-payments.
Happy days mate, you're locked in.
Again, a great idea!
I am in with 95 Steem!
Thanks for the feedback my friend but the minimum is 100 STEEM. Im just gonna ahead and assume that's cool with you so i can update the chart now instead of later. Your down for 100 STEEM
In your example you wrote "5 members send 95 STEEM"
so I was assuming, I would later get the 100 SPI for 95 Steem. Is this not the case?
The numbers used in the example are example numbers so that it is easier to explain.
When you send 100 STEEM, you should back just over 105 SPI's
OK, then I will add 5.
10 4, roger that.
Thanks man for being cool
Very well done as always. Wish I could throw in but my steem balance is super low. I need to work on gaining traction again and getting back at it. Thanks for all the work!!
Posted using Partiko Android
No worries man, thank you for your feedback. This will be an ongoing thing so nothing stopping you getting involved 1,3 are 6 months down the road.
I'm in for 190.
Greta stuff, i'll get that added into the post table and i'll get your extra 100 tokens sent over asap.
Thanks man
100 Steemp sent.
I'm in - 100 Steem transferred.
I put aside 200 Steem for this, but I guess when this first wall is locked, we'll be collecting for the second wall? So I'll keep that for the next wall and, ideally, this 200 steem will be my kitty to keep funding the buy wall.
Good to see a specific benefit for being a member.
Do we still need steem for this ? Let me know I may be available to provide some backing for our wall
CS
Posted using Partiko iOS
yeah, we'll always need STEEM for this :)