ELIXIR is a token created by @bulliontools, a member of the Hive Onboarding Committee (HOC) and one of the DUO Project founders.

The goal of the token is to provide the @nectarbytes account with Hive Power to curate the new Mildly Infuriating community, along with other short form content on Hive. The goal of the Mildly Infuriating community is to give all people a place to share their frustrations, and to act as a catalyst in bringing interest from those outside of Hive in hopes of onboarding more people.

Tokenomics Breakdown

• 200,000 cap (Pre-mined)
• 100,000 reserved for sales
• 100,000 reserved for delegation rewards
• 1 week to unstake in 1 transaction
• No tokens will be held by @bulliontools or @nectarbytes unless purchased with private funds

Dividends

• Minimum 50 ELIXIR staked to qualify
• 90% of curation earnings paid weekly

The initial dividends paid will be provided by @bulliontools. As these funds near depletion, a power down of the @nectarbytes account will be initiated to continue the funding of dividends.

For full transparency in what is backing the project, here are the initial funds the project will start with.

Sales

Sales of ELIXIR will be done in tranches. All HIVE income generated from this will be powered up.

10k @ 1 HIVE each
50k @ 2 HIVE each
20k @ 3 HIVE each
20k @ 4 HIVE each

Delegations

Delegators receive 100% of curation rewards paid weekly in ELIXIR based on 50% of the market price. The goal is that as the project matures and token price increases, delegators reap even greater rewards as tranches sell out.

A simplifrd formula for delegation payments is as follows:
(Weekly curation earnings) ÷ (0.5)(Highest market price for ELIXIR)

Note: Payout calculations take into account when a delegation started, so if you delegate prior to a delegation payout it will be prorated for that first payment.

Example: Curation rewards are 100 HP and the market price of ELIXIR is 1 HIVE. In total, 50 ELIXIR (100 x (0.5 x 1)) are then paid out to delegators.

The script for payouts has specifically been coded so that @bulliontools will not receive any ELIXIR token payouts regardless of how much HP is delegated from his account.

Curation

All curation will be done manually. No curation is guaranteed for token stakers or delegators. Any upvotes given are based solely on the merits of the content itself.

Buyback Program Proposal

The buyback program obtains funds from three sources.

1. Convert all post earnings to HBD that are put into savings

2. 50% of all Hive-Engine tokens earned are sold and converted to HBD and put into savings

3. An additional 1% power down will be performed (So 91% instead of 90%) and the extra HIVE from this will be converted to HBD and put into savings

An announcement will be made one month prior to initiating a limited buyback using the HBD funds in savings. The buyback price will be at 85% of the current market or tranche price. It will be first come, first served and when funds run out the buyback stops. The tokens bought back will be relisted on the market at 10% under the market or tranche price.

The funds from token sales in this process will be allocated as such:

1. 50% powered up

2. 25% converted to HBD and put into savings

3. 25% will be kept as liquid HIVE to use for prizes to encourage participation in the Mildly Infuriating community

The process will then repeat itself in perpetuity. The idea is this allows limited buybacks and creates liquidity for stakers, without negatively affecting the growth of the nectarbytes account long-term.

Project Maturity

The project will start small, and will grow steadily. As the HP builds, so do the rewards, and so the ELIXIR tokens will eventually all be paid out to delegators and sold on the market. This heavily rewards those who get in early and continue to support the project, and will help the token maintain value.