Precious Token Update and Splinterlands Asset Sale

Today I wanted to give a quick update on the situation with the Precious Token because I was previously intending to complete an auction for the combined SGS Splinterlands Assets before executing a "Token Buyback" around this time. Even though we're not quite there yet we are very close and I CAN provide a little bit more detail about what this will ultimately look like.

The primary powerdown of the @ssg-community account has completed and there is now just over 2,670 Liquid HIVE sitting in the accounts wallet which is there to fund the Precious Token Holders. There is also another 100 HIVE propping up a Buy Wall for the Precious Token on Hive Engine and I was originally going to do a Token Buyback by just nominating a fair price and putting all the liquid funds into a big buy order at that price on Hive Engine so that holders could sell all their tokens at fair value in one hit.

I've decided not to do it this way for 3 reasons. Firstly it is because this approach requires holders to actively sell their tokens. Secondly it also then requires holders to convert back from SWAP.HIVE to HIVE to be able to vest the proceeds of the Buyback. Thirdly it effectively nullifies out the Token and leaves no residual record of holders who supported the project.

So instead I've decided to take a snapshot of holders and then make direct transfers of Hive at the determined fair value price and call it a "Final Dividend". This makes it easier for holders, compacts the process timeframe and lets SGS members keep holding the Precious Tokens as a keepsake of sorts. The tokens won't be backed by any real value after the "Final Dividend" but sentimental value might still be worth something.

The other change I've made is that instead of doing an Auction of the remaining Splinterlands Assets on the account I've decided to sell them individually via the established markets. This is potentially more work for me but I think I can get a better price for the assets than selling them at a discount via auction because the established markets have greater reach and liquidity. The draw back of doing it this way is that the sale process is likely going to take a bit longer and therefore delay the "Final Dividend" payout process that I described above.

Of course if anyone is interested in buying any or all of the SGS Splinterlands Assets "Off Market" at fair value then please get in touch with me via Discord and I will facilitate the sale.

I'm not sure how long this process will ultimately take and I've initiated a second Powerdown on the account to free up a small amount of extra vested Hive in the process. Hopefully it won't take too long.

As always, if anyone has any questions or concerns then please get in touch.