Hello SPIers, today we look into past SPI token burn and our token split. SPI was the first fund-style investment token to be released on STEEM HIVE around 4.5 years ago. We sold roughly 80k SPI tokens for between 1-1.20 STEEM each. Since launch, we have done 1 token split on STEEM and 2 token burns on HIVE. Let's take a look.
What have we done with the SPI token so far?
We have not played with the SPI token for a long time so im going to have to go deep into old content. Im not good forward to having to manually scroll through around 1000 posts to find the information that I need but there's a search feature to use. There is search but it's very primal and not really fit for use.
Let's go!
( 15 mins later - Just looking through old posts, damn I used to put in effort)
- Token Split - 28/12/2019
This was when I was struggling to issue SPI tokens and decided to revalue the SPI token from 1.25 back down to 1 STEEM in the hope people would buy at 1 thinking it was ground floor. Im sneaky like that 馃槒. The split was for every 1 SPI you hold, you were airdropped 0.25 more SPI. If you had 100 SPI back then, you were airdropped 25 more.
- Token Burn 1 - 28/07/2021
We brought back and burnt 5600 SPI. This was 5.6% of the tokens in circulation at that time. SPI paid 25,640 HIVE for 5600 tokens but they were worth 26,990 HIVE because we buy back at 95%. This yielded the fund 1,350 HIVE as profit. The fund was worth 395,000 HIVE at the time so this increased each token by 0.0034%. It's not much but it's worth showing.
- Token Burn 2 - 01/05/2022
We were holding SPI and I decided to run some. We burned 1400 over the course of a few weeks but these were not bought back so no assets were removed from the fund. The tokens were worth roughly 3.1 HIVE each so 1400 would have been worth 4340 HIVE. At that time the fund was worth around 293,000 HIVE so this 4340 is equal to 0.015%. Again, it's not alot but im never going to write a post like this again showing this.
The Result
If you had bought 100 SPI tokens on STEEM for 1 STEEM each, today you hold 125 tokens that have had a 1.84% boost from token burns. Your 100 STEEM from 4.5 years ago are now worth 576.25 HIVE and on top on that,
You will also have received roughly 380 HIVE from weekly dividends.
Your 100 STEEM investment has almost done 10x in terms of HIVE when we factor in both token value growth and the HIVE from weekly dividends. Your dividend ROI would be around 13% based on your starting investment of 100 STEEM.
What do you think?
I know it's silly information but I have people all the time asking how long would it take to ROI from SPI dividends. First off, SPI is a growth token, not an income token. We save and compound, and giving away all the funds through dividends to keep short-sighted investors happy is the opposite of what we're doing here but I understand people dont understand that when they first see SPI tokens.
If you bought into SPI on STEEM, you have already ROI'd from dividends a long time ago so stop asking, please. If you got in post-HIVE, work it out yourself, it's not that hard to do and you should already know to be honest 馃榿
I knew the token had done the 1-1.25 token split but I had never worked out the total dividends paid to date so thats a new one for me. Amazing to see that investors, OG investors are up almost 10x in terms of HIVE.
Dont forget, the new investors of today will be the OG of tomorrow and its never too late.
Thank you for checking out this post, i hope you found it to be an entertaining post and i wish you a wonderful day.
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token |  @spinvest | SPI |
| LBI token |  @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners |  @eddie-earner | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| DAB |  @dailydab | DAB |
| DBOND | @dailydab | DBOND |