What Backs ELIXIR?

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Someone posed the question a while back and asked what is backing the ELIXIR dividends that go out weekly. It's a great question, and one that anyone should be asking of any token before considering buying it. What happens if something happens to dividends from curation and they don't come in? What's the backup plan? What's backing the token?

Honestly, for a lot of tokens the answer is... nothing. You're counting on a person's reputation and word. Depending on the person, those can be either incredibly reassuring or very concerning. We all saw what happened with BRO.

So what backs ELIXIR? For now it's about 2500 liquid HIVE. It's also this.

Silver. Gold. Hard assets. There's also my word. While that may not mean much to some, there is no price I will not pay to make good on a promise. I have a reputation that I keep my word and choose my words carefully, and that's priceless. Years ago I accidentally committed to buying a 1kg silver coin when I thought it was only 1oz. Instead of begging to cancel the deal, I sucked it up, moved funds and made good on the sale. I still have that coin even today.

@bulliontools/the-cost-of-keeping-my

Does this mean I'm backing ELIXIR with precious metals? No. I'm also not making it redeemable for precious metals. What it does mean is those concerned about liquidity, exiting, dividends, etc., should know if something happens I have funds available to make good on my word. It may come at a cost, but it's a price I will always pay to keep my reputation pristine and above reproach.

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Buy ELIXIR and stake to receive HIVE dividends!
Delegate to nectarbytes@nectarbytes to earn ELIXIR!
https://tribaldex.com/trade/ELIXIR
https://hive-engine.com/trade/ELIXIR

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Buy DUO and stake to receive HIVE dividends, tip others, have your posts curated, and grow Hive!
https://tribaldex.com/trade/DUO
https://hive-engine.com/trade/DUO



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What Backs ELIXIR? | Ecency