PRECIOUS Token Resale and Airdrop Update

After the recent big fundraising effort of the Silver Gold Stackers the @ssg-community account has collected a decent sum of PRECIOUS Tokens as proceeds from Raffle Ticket Sales. Of course these PRECIOUS Tokens can’t be used to Lease HIVE Power so they will need to be converted back into HIVE over the next couple of months. As such they are being re-sold back into the market at a reasonable price for anyone who missed out on the Initial Token Sale or wants to build up their own holdings. For anyone interested they will be listed HERE on Hive Engine.

There is no hurry on this token resale and I don’t really know if the PRECIOUS Tokens that are on the market will be snapped up or whether they’ll sit there for months. What’s most important for me is to be transparent about the fact the tokens will be resold and that there is only a limited number of them available. At time of writing this post the @ssg-community account has 1583 PRECIOUS Tokens which is a fairly small amount so I intend to drip feed them into the market via a few Tranches at 0.13 HIVE each – which I think is about fair value in the context of our Initial Token Sale and recent fundraiser.

The Airdrop itself is ongoing and there has been a total of 7171 PRECIOUS Tokens distributed so far to our Curated Authors. There WILL be a reduction in the amount of PRECIOUS Tokens Airdropped per curated post shortly. I will be confirming the date and details of that change and announcing it soon. It is hoped that SGS Members will always be able to earn some PRECIOUS Tokens by producing good content for our Curation Project, but also that the supply of PRECIOUS Tokens not be completely unlimited.

It is intended that the rate of tokens being distributed by the Airdrop will decline over time but at a slow enough rate to still allow dedicated SGS Members to accumulate a decent stake over a longer period.