From the announcement of the #vyb project there is a high level of interest. The reason for this is not only the rules of the new platform but also the tokenomics.
I was introduced to this community by @funshee who mentioned in one of her comment about the same. I was late to join this bandwagon.
@trostparadox the account behind the #vyb community is likely to announce the calculations of airdrop eligibility in this week, which will further add some more excitement in the #pob holders and users.
The swap ratio for exchanging #pob for #vyb changed yesterday night when the @x-1pob-2vyb was drained out of the tokens allocated for the swap.
Now the swaps would take place at the rate of 1pob for 1vyb. Interestingly there are more than 300,000 tokens kept for swap with #pob.
If this account runs out of the tokens then it would be very interesting story.
To buy 300000 #vyb more than 300000 #pob tokens would be needed. Even at these levels the proposal looks attractive as their is a significant price arbitrage. However, as the price of the hive drops the arbitrage margins would start diminishing.
POB Stats not matching with #vyb plans
Now let us look at the statistics of #pob. There are 1925650 #pob tokens issued, out of which 5579 are burnt, hence 1920070 are in circulation.
Now out of these 1920070 only 84.5% are staked. This also means that only 15.5% or 0.297 million or 297661 are available in liquid format.
Here is the real catch.
Though there is a interesting arbitrage and 15 more days to see the project going live on 18th December'2021, there is not enough liquidity to justify the plans of the swap at this phase.
As a response, we might see some of the whales powering down their #pob stakes and converting it to the #vyb and would make the #pob coin more illiquid.
Theoretically, as the coins go out of circulation, demand will increase and the prices of the token would go up. But if there is no liquidity, who would buy these tokens and who would sell.
Though the #vyb creators have grand plans of creating the liquidity pools, will the prices on hive-engine would become a bit un-realistic after this 1 on 1 swap ?
Tokenomics looks great but will the #pob currency in circulation becomes scarce?