This post is not financial advice.
Thanks to 
A few facts about GLITTER before I get into the Q&A
GLITTER is pegged at .01 HIVE per token but the value is more than that. This is because regular buybacks at a profit will occur.
GLITTER is backed mostly by hive-engine holdings swap.hive will be dominant. It is also backed by HP and likely some HBD in the future.
The first scheduled buyback in November will be at a 1% bonus meaning 100 GLITTER is not worth 1 HIVE it's worth 1.01 HIVE or .0101 per token.
There are 3 types of buybacks, scheduled buybacks, which will always be above the .01 value, "quick sell " buybacks which will be buy orders at slightly below .01 but within 10% of that number for folks who want to dump/sell quickly. Then there are guaranteed buybacks where if you have more than 50 HIVE worth of GLITTER you can request a buyback of .01 each at any time .This is limited to once per person like the UNICOIN guaranteed buybacks. The 50 HVE threshold is to avoid people selling back smaller amounts, you can do that on the exchanges.
the oluy exception to the buyback wall are if I offer a sale, I will temporarily remove the buybacks if there is an active sale going otherwise I would just end up in a buy/sell loop. This will be very rare and infrequent. I will only have an official sale if here is a reason like a new use case or something OR if there ar buy orders at .01 I will likely sell. Otherwise you earn GLITTER from various LPs including UNICOIN: SWAP.HIVE, HSBIDAO:PIXYDUST and a few others.
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A super majority of the tokens bought back will be burned. Somewhere around 80%. Not necessarily immediately but at least once a month the tokens bought back will be burned at various rates. Some tokens will be recycled back into the LP rewards.
The same for the "quick sell" buybacks. Unlike UNICOIN I will not be saving the tokens bought back ,they will be burned. New tokens minted once they are backed, and the cycle continues. That 80% number is just giving me leeway and there may be occasions like collabs or promotions where I use a small portion of the tokens bought back, but mostly they get burned.
That said let's get to some questions:
"How will you peg it? Large buy and sell walls around 0.01 HIVE on hive-engine? "
Essentially, yes. Though some buy orders will be just below .01 for those who want to dump/sell fast (like .009+ no lower than that from the official account)
"Why would someone acquire Glitter rather than just buy HIVE?" Because like UNICOIN some of the buybacks will be above the .01 Hive as explained above.
"If it is some sort of reward token for LPs, why not just use UNI to reward that?"
UNICOIN are a low supply and the tokenomoics/ main distribution is through delegating HP and using the tip bot. Adding UNICOIN as a reward could and likely will de -incentivize some folks from delegating HP. This is counter productive.
Glitter will also have some funding sources UNICOIN does not have . Glitter is more experimental in some ways. Think of it as A/B testing type thing but with slightly different assets and tokenomics.
"Or use HIVE itself as a reward since Glitter is just 1/100 of a HIVE?"
We will have both swap.hive and glitter (and other tokens) as reward in the UNICOIN diesel/liquidity pools. Having it pegged to 1/100 gives more flexibility ,especially if Hive pumps.
Another question folks may have in their minds is if there will be a pre sale. The answer is : not really. If people choose they can put in a buy order for .01 and I will likely fill it but GLITTER does not need a sale to build up reserves. it already has funding sources and about 100 HIVE equivalent at the time of this posting and growing every day.
My best estimate is this account will have at least 150+ HIVE equivalent at the launch of the UNICOIN liquidity pools. Some of that swap.hive will be put in the pools as a reward and some of the value will be used to back and mint GLITTER. There are other hive-engine assets backing glitter as well, it's just easier to speak in terms of HIVE value.
GLITTER does have outside funding sources but will utilize liquidity pools to keep the account growing in case those sources dry up. But for now, not only does it have outside income trickling in but is also earning liquidity rewards as well. There is also post earnings, curation etc backing it too.
Already this post is way longer than intended. I hope this clears up some questions.
Got more questions? I am rewarding PEPE or SPS if you reply in the comments with a thoughtful question or comment. This applies to the first 5 questions. One reward per person.Limited to within 7 days of this post going live. If you do not specify in your first comment if you prefer PEPE or SPS the default reward is PEPE
