@tipU Update: Tokens, Website And Some Question :)

in steemit •  5 months ago  (edited)

Hi guys, I've got some updates regarding @tipU tokens and @tipU website. I will also need some feedback from you regarding other @tipU functionalities. Let's go!


@tipU Website

First let's have a quick look how the most important part of the @tipU website will look like - the investment monitoring section:

please note that all values are place-holders

This is the first version of it, later on it's gonna also display all the recent upvote requests (logs). It's gonna take some time to finish it though - all the underlying mechanic is being coded by @mys who, as every web developer, has very little time on anything other than few hundred other projects :) Let's hope that with enough pizzas and red bulls he will be able to finish it soon(TM).

The cool feature is that the website will display the investors data basically in real time so no longer will you have to send "status" commands to @tipU to check the investment data. Plus I hope it's gonna be satisfying to watch the numbers grow as you look at them :)

@tipU Tokens

So, following the last post about the tokens I think I've finally figured it out.

Basically the questions was: limited supply and token value growing over time or unlimited supply and 1:1 token peg to STEEM POWER. But then @sames asked:

And actually it's not that hard to do. Here's the plan:

  • unlimited tokens supply
  • value starting with 1:1 peg - 1 token will be backed by 1 STEEM POWER
  • value slowly growing - 1 token backed by slowly increasing STEEM POWER amount (more than 1)

I can reserve some SP amount that can be used to increase the peg over time. You guys are following?

OK, here's the example:

  • we start with releasing 10 000 tokens backed by 10 000 STEEM POWER (1:1)
  • I reserve additional 1 000 SP pool - and add 1% from it (10 SP) daily to the STEEM POWER that is backing up the tokens
  • after 100 days the 10 000 tokens are backed by 11 000 STEEM POWER (initial 10 000 + 100% of 1000)

Of course after those 100 days any free SP would be used to increase the pool so the token value appreciation can be continued. It's worth to remember tho that at some point this process probably will have to be stopped (no more SP to increase the pool).

With this method I can issue new tokens, but with the creation of new ones I always have to increase the reserve pool so the peg never goes lower than it was before. Thanks to this:

  • I have option to issue new tokens in case new funds are needed (for new project, investment opportunity etc.)
  • Issuing new tokens is limited and the peg (token value) shouldn't go lower - only up.

Hope this makes sense :D Let me know in the comments!

Invest

With introduction of @tipU tokens, the old "invest" functionality is kinda obsolete.

Please note that invest refers to sending SBD/STEEM to @tipU to increase share. Payouts for delegations will of course stay as they were.

They way it currently works gives basically free money to users that deposited SBD/STEEM to @tipU. I can not use those deposits in any way because the main rule is that users can instantly withdrawn them. In other words deposits do not generate any profit. Instead @tipU is lending for free it's own STEEM POWER to generate profit for those deposits. Those take a lot of @tipU STEEM POWER that otherwise can be now used to increase the token value.

Because of that in 7 days the deposits will no longer be treated as investment and will not increase the share in profits. In fact the automated system switched off this feature few days ago because @tipU ran out of STEEM POWER that can cover the new investments. But in 7 days it will be disabled permanently. Current deposits working as investment will stay as they were before. Naturally you can withdraw them if you want to.

Of course you can still make deposits if you want to use @tipU to send tips (remember this one?:) or subscriptions.

Auto Reinvest

This leaves us with the auto-reinvest functionality. We've got 3 options here:

  • leave them as they were, so auto-reinvested part increase the share and can be withdrawn at any moment in form of SBD/STEEM
  • use the auto-reinvest part of the profit to automatically buy @tipU tokens - so the increase in share mechanic would stay the same but upon withdrawing the reinvested part users would receive @tipU tokens instead of SBD/STEEM
  • pay the auto-reinvested part in STEEM POWER - which means that @tipU would be powering-up uses that choose to do so. Than users can increase their delegations (sadly this can not be automated).

I haven't made the decision yet. Each day more and more @tipU SP is reserved to back up the reinvested SBD and STEEM. Most probably, with current mechanic, soon or later the automated system will switch if of because of lack of SP (happened before). Of course thanks to curation rewards (incoming SP) it can be switched on again and than it can kinda oscillate like this. Let me know what do you think!


OK, this sums it up for now :) See you in the comments!
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Hi @tipu,

My last payout of 0.558 STEEM seems a bit low. Surely it is not 0.100272% of Total @tipU profit: 916.757 STEEM.

Pay out steem - 17-03-2019.jpg

Good that you are verifying it :) My yesterday's testing of the tokens screwed up the profit / % ratio. Basically I, as a token holder, had 97% share for few hours which took the profit from others.

You can see me sending back the profit that wasn't mine here:

I had to do it few times which artificially pumped up total profit while I was trying to fix it. Anyway, of course any missing profit will be added to next payout :)

@cardboard! Thanks.

I've been away on project for a few months - so I'm a bit rusty on Steemit. How do I get, earn or use your tokens?

When will they be available?

This week :) Will make the announcement for sure!

Yesterday 916.757 STEEM POWER delegated or invested gave payout of:
0.079 SBD + 0.227 STEEM (0.19 USD), APR: 16.15% .

Delegation link: steemconnect 916.757 SP delegation to @tipu.

Please note that your profit can be slightly different (depending on the payout time).

Check out https://www.steemprofit.info to compare @tipU with other services.

I guess you found a good middle way to test everything out. 😄

To test the increasing ratio in the background with an unlimited supply seems like a solid idea. I'm still concerned, but there will be no harm of at least trying. The peg is at least 1:1 so no way of dropping below that. Good thing!

Regarding the old "invest" feature:

To disable any share of profit for those deposits (especially after @tipU disabled already it once) is the right thing to do.

For the auto-reinvest: The first option is basically no auto-reinvest, because the deposits will no longer bear any share of profits.
(Or is the payout just a deposit without a share of the profit?)

So I would go with the second and third option. Make it a choice, like SBD, Steem or SBD and Steem. In this case, SP or token.
If that isn't possible to code, I would plain and simple go with #2, just the tokens. They want to reinvest, they get token, which bear a share of the rewards and @tipU is able to use the Steem as SP for those tokens. Which is actually a really functioning way to put some real investment into @tipU.

I'm pretty sure, we will see a great @tipU token and a new shiny website. 👍

I am a BIG Fan of @tipu and will Continue to utilize its Services............

Glad you found my idea appealing...
For the auto-reinvest option...
You could do 1 and 2 aka make it options... 3 seems like a hassle...
Now what will be the default 1 or 2? Tipu token holders would love number 2 and they are in a way investing on tipu success...
(I assume this update will be sent via memo to let people know about it? )

Adding feature to select the auto-reinvest option would complicate the feature even more :D

(I assume this update will be sent via memo to let people know about it? )

Good idea :)

Hmm...
I guess then...
Tipu token holders would love number 2 and they are in a way investing on tipu success.

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delegate 50SP to @tipu

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delegate 100 SP to @tipu

Posted using Partiko Android

Hi @n1hal! Special squad of highly trained hamsters prepared this delegation link for you:
steemconnect 100.0 SP delegation to @tipu.

This post is supported by $3.01 @tipU upvote funded by @cardboard :)
@tipU voting service always profitable, instant upvotes | For investors.

Definitely display expected APY.

Also, how are the tokens priced at release?

Thanks for the suggestion.

Most probably initially tokens will be sold for 1 STEEM each.

Hi @tipu. First of all, you have a great service, thank you.

Now, I'm still trying to get my head around this post, very exciting, and I have a question. If you are pegging (pledging / supporting / fixing values) between a token and Steem, are you in effect creating a security token (STO)? My limited understanding is that an STO may be created when you tie it to a tangible asset, which in this case might be considered Steem.

Security token? No no no, we stay away from this because of the legal issues ;)

Good to know. Thank you for taking the time to respond @cardboard.

Also, I like the idea of auto-reinvest. The compound interest is very powerful.

Yeah :)

"With introduction of @tipU tokens, the old "invest" functionality is kinda obsolete." ok, so what about us who put some SP into your bot. Will we be able at least get all the SP back in a week, so we can use it for other purposes? Or will the delegators of your bot be also switched to new system?

Not sure if I understand. Nothing is changed about payouts for delegations. Invest refers to sending SBD/STEEM to @tipU to increase the share.

oh ok. I get it. I thought "old invest functionality" you mean delegations, and tipu will implement whole new system

Thanks for the question, I've updated the post.

By the way I'm thinking about using tokens as for additional (bonus) payouts ;)

Not bad. This way, I guess tipu would get even more delegated sp too

Yeah, that's the idea :)

delegate 220 SP to @tipu

Hi @georgeknowsall! Special squad of highly trained hamsters prepared this delegation link for you:
steemconnect 220.0 SP delegation to @tipu.

Great work!

Posted using Partiko Android

@tipu profit for 1400 sp

Posted using Partiko Android

Yesterday 1400.0 STEEM POWER delegated or invested gave payout of:
0.098 SBD + 0.524 STEEM (0.35 USD), APR: 19.3% .

Delegation link: steemconnect 1400.0 SP delegation to @tipu.

Please note that your profit can be slightly different (depending on the payout time).

Check out https://www.steemprofit.info to compare @tipU with other services.

@tipu profit for 2000 sp

Posted using Partiko Android

Yesterday 2000.0 STEEM POWER delegated or invested gave payout of:
0.139 SBD + 0.748 STEEM (0.5 USD), APR: 19.3% .

Delegation link: steemconnect 2000.0 SP delegation to @tipu.

Please note that your profit can be slightly different (depending on the payout time).

Check out https://www.steemprofit.info to compare @tipU with other services.

so purchasing tipu and holding tipu tokens will make me eligible to part of tipu profit sharing?

Exactly. Just like SP delegation.

  ·  5 months ago Reveal Comment