Having your own cryptocoin sounds like fun. Tribaldex allows anyone to make their own coin. So of course it was time to make the GLD coin for our Splinterlands guild, then later the #earnspendgive community. However, make a cryptocoin and supporting a cryptocoin are very different things

# Should I have even started the coin? ![image.png](https://files.peakd.com/file/peakd-hive/merchantsguild/23wzdWKaRU3b54DqFQLNeyKnqSJWrWdrHhzUnMMbv2VHbUUQyHpH3YDrTwCiCYwwbc79t.png) Now for clarity I should state up front that I have multiple Hive accounts. I am aware that it is frowned upon but I believe in my case it was necessary. So I'll list them here: @tergan604 -- this is my Splinterlands account. I keep all Splinterlands investments and Splinterlands posts here. It was formerly used for #actifit as well, that has been stopped. @terganftp -- this is my blogging account. If I'm writing on #actifit or #hivelearners it will go here. I used to use it for writing on #earnspendgive and will probably continue to do so but I may be using the @hiveabbyftp or @merchantsguild accounts to write there. Will have to see. @hiveabbyftp -- this is my investment account and the account that I used to create the GLD token. Updates on the GLD coin, its value, usage, and so forth should come from this account. @merchantsguild -- this will be my GLD valuator account. Hopefully you won't see much from this account other than updates (likely monthly) as to what I've been doing to make money to support the GLD coin. @tergan -- This will be my "write things I'm passionate about" account. I want to start blogging about travel and food. If people follow me about my recipe's or travelling I'd prefer not to flood their feed with a daily blog about walking the dog (#actifit) or about theoreticals and opinions (#hivelearners). I'll likely use this account to keep my feeds clean. @terganmarket -- I'll likely start a blog about useful tech and other items in the #earnspendgive community. Perhaps even selling those items in the community as well. If I start using this account it will be for sales and review and again I should keep that distinct from other things I'm doing online. Yes, I know its best to have only one account. However, when it comes to finances sometimes its important to keep the GLD tokens money distinct from my investment which should be kept distinct from my earnings. Just a thought but too many crypto founders have treated their coin as their personal piggy bank **just look at the FTX exchange!**. It may be bad form to have multiple accounts but I don't want to be tempted to treat other peoples investment in my coin as my personal income. If I knew then what I know now I probably wouldn't have created my own coin. I'm betting a lot people who start a coin doing realize what they are getting into which is why there are so many "dead" coins on the Hive-engine. However, I have no intention of abandoning my coin and more importantly those people who hold it. Why wouldn't I start a coin again? Finding a use for it is challenging. Getting interest in it is even more challenging. Supporting it takes both time and capital. I'd bet most people who start it without thinking will regret it later. ### Only start a coin if you absolutely need to. **Hive doesn't need any more crap L2 coins** (at least in my opinion). #How do you support your coin? ### At the very least add liquidity on the Hive-engine. It can be tempting to just offer the coin for sale and take the profit. However, that's the same as asking for a loan and never expecting to pay it back. It's dishonest. If you are offering a coin for sale make sure that you respect those people who put their faith in you and your coin! At the very least offer to buy back the coins you sell (even if at a discounted rate) so those people buy the coin aren't stuck holding it with no way to get rid of it So, step one: On the Hive-engine make sure you place buy orders for every coin you sell. At least that's my recommendation. # Make a liquidity pool Here's a little tip though. Placing buy and sell orders for a coin that rarely gets traded is a pain. You'll have to go back regularly to make sure you are supporting the coin and limited liquidity makes the coin unattractive. A liquidity pool through Tribaldex makes sure that there is always a buy/sell option for your created coin. Sure the value of your coin can drop like a stone if the liquidity pool is small and there are a lot of people dumping your coin. Conversely the value of your coin can become overly inflated if there are people who want to invest more than your pool can handle. Even worse, it costs money to start the pool and you have to figure the right coin to make a pool with

# Making a reason to hold the coin Buy and Sell orders on Hive-Engine and having a liquidity pool on Tribaldex are a start towards legitimacy but still doesn't give people a reason to hold your coin. A person who simply holds HP will see the value of their investment grow slowly but constantly. Plus that HP gives someone resource credits to use the Hive system. If someone uses their HIVE to buy your L2 coin what value are they given in return? If you aren't giving at least 2.3% (interest on HP) and more likely 10% (2.3% interest and 7.7% voting rewards) then people are losing out by purchasing your L2 coin. If you make a coin I'd recommend making sure that you reward people for their purchase!

# GLD value Now the GLD coin started off as an idea for a Splinterlands guild that didn't work the way I had hoped. It languished for a while but I made sure there was a buy and sell on Hive-Engine so holders weren't stuck. When the #earnspendgive community started I made sure to make a liquidity pool so everyone who was rewarded coin in the community could get value from it easily. ### The buy and sell for the GLD coin were covered. However there was no incentive to hold the coin. To make sure that holders weren't losing out by holding the coin a monthly return of 1% (roughly 12% annually) was implemented and while I have to do it manually it's my intention to keep it going for the foreseeable future But there was still something missing. There was no appreciation for the GLD coin. The value of the coin was pegged at 100 GLD to 1 HIVE but that meant holding HIVE in hand to support the coin if people sold their coins on the Tribaldex pool. It also meant tying up capital to place buy orders on the Hive-Engine. ### Enter the valuator account Enter this account : @merchantsguild it will act as a "valuator" account for the GLD coin. But what is this valuator account going to do? Well, the whole idea is to use the account to earn HIVE or other L2 coins. Then use those coins to actively purchase GLD tokens regularly. The sole purpose of this account will be to raise funds to buy GLD tokens. More GLD token purchased the more value it has....at least that's the idea. How do I expect to get coins from this account? Good question! The exact plan has yet to be worked out. The GLD token is very much a token in development! However, my initial thoughts are this. First: There are 19,103 GLD tokens being held by HIVE users according to the richlist. ![image.png](https://files.peakd.com/file/peakd-hive/merchantsguild/23tHXKJc1dFchknC65BdCd6vA72QydaTVAzv2w1geJsaM4wThRxEZVi1GUQKG7XcGoj4Z.png) At a valuation of 100:1 that means I should hold **at least** 191.03 HIVE tokens to back the coins that have been issued. ![image.png](https://files.peakd.com/file/peakd-hive/merchantsguild/EoCpNr8FrBm2qXTCPiFb5HfCiTvF5XUJnZQrp1F7edzAtGrCkR5xP54H8WptyFxx3p3.png) As you can see that amount is locked into HP and will go up at 2.85% over time. Some of that has been delegated to @leo.voter and @ecency to provide regular income which will be used to purchase GLD tokens. But what else should I do? Well, there are token holders who I will add to my curation trail at hive.vote ![image.png](https://files.peakd.com/file/peakd-hive/merchantsguild/23xViHh23qZhq8ExDZjxwxFQ2p9YRgWGUvqqEo18ZbVJau5z2HpoXmYAj3j6kx3rZ7gwW.png) As all those GLD holders are people who have supported both the #earnspendgive community and the GLD coin I believe they should get my support in voting for their content! It's a win-win. Upvotes help the posters and the curation rewards let me support the GLD coin in value. ### BUT THERE IS A BIG CAVEAT / WARNING! The @hivewatchers account frowns on "pay for vote" schemes as I found out with the @whale-tail issue. I'm not too sure how to avoid getting on their blacklist but at the very least I'll be watching the content I'm upvoting from the hive.vote curation trail and low quality posts or just plain bad posts will earn being deleted from the list. I love the idea of supporting those people who hold the coin but hate the idea of supporting bad actors. **It's a balancing act and I'm not sure I won't stumble...but I'll sure do my best to keep things legitimate**. ### Liquidity pools and other projects One more way I hope to "invest" my Hive to create value for the GLD coin is in supporting different liquidity pools. Splinterlands is a great example. Their Hive:SPS liquidity pool offers a decent return so I'll likely invest there to both earn a return for the GLD coin and support the Splinterlands game. The same thing goes for the Holozine team. ### Investing in HBD And of course no investment return scheme would be complete on HIVE without putting something into HBD. I mean 20% return on a stablecoin? I'd be a fool not to at least consider it. Now, I'm certain that crypto users are a little bearish on the US dollar especially with the way those things are being printed these days! However, it's hard not to look at a 20% return and no to hmm.... So, a portion of the investments will be held in HBD with the monthly interest being used to directly purchase the GLD tokens What does all this mean? Well, two things. ### FIRST: Hopefully GLD tokens will become more valuable in the future and I will earn the trust of those people who have held the coin. ### SECOND: Hopefully this post will let people thinking about making a coin will think twice before making a coin that will clog up the coin list on the Hive-Engine and understand that creating a currency is a lot of work. Thanks for dropping by And while it may be bad form to tag people without their consent (sorry guys) I'm going to ask for a bit of help from the community: @jjmusa2004 @rare-gem @monica-ene @supernova004 @lightpen and @jmis101 as the top holders of the GLD coin do you have any comments on what I'm hoping to do? @gwajnberg and @dlmmqb as respected HIVE members do you have any thoughts on whether my mission is going to blacklist me or otherwise get me in trouble? @ngwinndave you asked to be added to the contact list and showed interest in the #earnspendgive community and the GLD coin...so here you go, this is what I'm doing with it :) Thanks everyone ....and that's what I'll be doing with this account for the forseeable future (God willing).

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