Hello, LBIers. This week I've been speaking with a few other guys that run hive-engine fund tokens and we've been brainstorming idea's about doing a collective project together. The biggest fund token projects on HIVE all focus on different things, LBI does LEO, SPI does HIVE and defi, BRO is into everything HIVE/HE and CARTEL is hugely into gaming. Together we have HIVE, LEO, other cryptos, DEFI and gaming covered and could possibly create a "super" token.
The rough idea we've come up with would be to pool our resources together, create a token that is like an asset-backed index token and build a use case for that through high yields.
Of course, we have only started to brainstorm and alot needs to be thought of and agreed on by all parties before anything really happens. We're not thinking of ways to make money, it's more of something that we think would add a use case to our existing tokens. The distribution of the super token would be something like no pre-sell and it could be minted only for the exchange of LBI, SPI, BRO or CARTEL as an example. How that would work with tokens being worth different amounts, we not get those finer thought out yet but..
Yields could be picked by super token holders. Again just brainstorming, we were leaning toward an independent website where people could stake their super tokens for certain rewards. All the fund tokens pay out dividends in different tokens. LBI pays out in LEO, SPI in HIVE, BRO in a bunch of such. Super token holders could stake into a HIVE reward pool or an SPS reward pool as examples. This would require some dev work but the smart contracts can be made on hive-engine.
Anyways that's what we've come up with so far but there is alot more to be decided on before we can even consider building anything. We have a coder that is a wizard on hive-engine, Cartel has a few wizards and BRO and has recently acquired a full-stack dev so together we should be able to produce something cool. We still need to figure out what to do with the tokens sent in to mint super tokens. If assets are transferred over, we could burn them and reduce the LBI supply which would increase LBI dividends and offer an exit from LBI into another fund.
What do you think about this idea so far? like I said, we're only brainstorming and we have the resources to do something cool but the finer details like token distribution, growth plan and dividends would need to sorted. For LBI, we could see a rush at the beginning as token holders use LBI to mint super tokens. This could maybe reduce the LBI token supply by a 5 figure number. Any buyback directly from LBI itself is still some time off but I am aware some LBI investors would like to cash out and I know this is not LEO but it's something, a way out.
I think the idea to combine all the best fund tokens on HIVE together would be epic and help to raise the profile of all tokens included. Investors would have exposure to a vast plethora of investments on and off HIVE/LEO and be able to pick how they received their dividends farm style. I get excited thinking about it and hope something comes of it as well.
Thanks for reading today's LBI post, just a brainstorming post sharing an idea. Have a great weekend or what left of it :)