Cent Delegation Works Started
Hello dear Cent Community. Our work continues to increase the usability of Cent and keep the profitability rate high for its investors and users. Here, we decided to announce one of these works.
Those who encounter the Cent Project for the first time may find this situation a bit unusual. We both collect Cent delegations and distribute rewards. The reason for implementing such a strategy is as follows; As you know, there has been no pre-sale of Cent in any way. Again, we try to distribute as few Cent tokens as possible in liquidity pools. We try to reduce the Cent supply as much as possible. Therefore, we keep the Cent supply constant using the method mentioned above. We also meet the amount of Cent we need for market maker transactions, support for curators, etc.
Delegate Cent to @centtoken and earn at least 15% return per year. Our goal in this work is to provide a return reference for projects and users working on Cent delegation and to start a competition between businesses/intensify the existing competition. Currently, Cent can earn about 20-25% through staking and voting.
- Delegate at least 10,000 Cent to @centtoken. And earn at least 15% return per year. Delegations made under 10,000 will be ignored. Currently, 10,000 Cents can be purchased with approximately 32 Hive.
- Payments will be made in HBD. And the yield rates will increase in parallel with the income from 'Hive-Engine transactions'. However, unless a very important problem occurs, it will not fall below the 15% limit. As you know, we add a portion of the income we receive from 'Hive-Engine Transactions' to the HBD/Cent liquidity pool as a reward. Therefore, we thought it would be more appropriate to calculate the APR rate according to HBD.
- Payments will be made weekly. Unless there is any interruption, we will make regular payments on Saturdays. If you are thinking of taking back delegations; it would be more logical to take them back after receiving the reward of the previous week.
Thank you for your support for Cent. Feel free to share your opinions and suggestions about this or other parts of the project. You can contact us via our Discord channel or by using the comments. Follow this account for new announcements and news.
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Damn, that sounds awesome!
But, how come delegations under 10k will be ignore? Is that because of the Cent/HBD conversion?
Hello. Thanks for sharing your thoughts. There are several users who are doing similar work to the work we started. Users who want to do fewer or more delegations can choose other work. Our aim is not to compete with them. That's why we set a certain limit for the payments to be received.
We also wanted to make the payment process easier for the management team. At the same time, setting a certain limit will also encourage users to invest more Cents. The payments will be made with a portion of the income from our investments and transaction operations in Hive-Engine.
Alright! Thanks for the answer.
Make sense!
I also love that we get HBD instead of Cent, so there is less pressure on the token :D
Absolutely great initiatives.. the 15% annual return on Cent delegations is a strong incentive. Thanks for all the hard work CENT
Thanks for sharing your thoughts. Work continues. We are just warming up :)
Hello @centtoken
Is it 15% of the total Cent token delegated or the worth in USD(HBD)
Hello. Payments will only be made with HBD. The APR rate will be evaluated in the delegated Cent.
@centtoken. I am not sure I understand your answer. Can you use numbers, please? Maybe the calculated return on a 10k cent token delegation?
If you delegate 10000 Cent; it means that you will receive 0.021 HBD weekly with the current value of Cent. However, as mentioned above, the minimum rate is 15% return. You can expect to get a higher rate of return due to the profits obtained from Hive-Engine transactions.
Understood. Thanks a bunch for this detailed explanation ❤️
Thank you for this update. I will work on that delegation part. As for curation, my wife's account @arlenec2021, and my son's account @kopiko-blanca have been curating content silently with the #cent tag for several months. I would gladly appreciate it if you could add 25k more $CENT to these two accounts. As for this account, I am still working on reaching 100k staked $CENT.
!BBH
!PIZZA
Hello. Thanks for the feedback. We have reviewed the accounts you mentioned. In addition to evaluating the accounts for delegation, we also consider the amount of Cents staked in the @centtoken account. So please be aware that one or both accounts may remain under review for a while. Thanks for your support of the community.
@arlenec2021 just delegated 10,000 $CENT to @centtoken. After a week, @kopiko-blanca will also do the same. Thanks!
$PIZZA slices delivered:
@rzc24-nftbbg(1/5) tipped @centtoken
I saw a couple of cent hashtags on leothreads and barely knew this was an entire community. Been searching for a community to share my blog but most seem to restricted to one niche and I love variety. I thought cent was referring to American cent, didn't know it was a crypto in itself.
Welcome to the Cent Community :) Cent was created as a defi token in 2021. From the beginning, it has a target price of around $0.01. We activated the reward pool in later periods. It also became a tribal token. There are currently 6 liquidity pools. We have come to very good places compared to the starting point. However, we still have a long way to go. If you want to get information about the project: https://peakd.com/ccc/anadolu/cent-qwv1w7
this is absolutely impressive work... I know a good project when I see it and so certainly going to join in
This is nice. I will join
Thanks for your comment. And we wish you good luck in advance.
Just delegated =)
Thanks for joining. And good luck.
Wait, so you want us to take hive from our 20% savings account to buy a token we don't really need for anything to only make 15% with it? Why would anyone who understands math do this? What is this token going to do you couldn't do with Hive or HBD anyway?
Hello. Thank you for sharing your thoughts and questions. First of all, the mentioned 15% APR is the minimum rate set. Also, as mentioned above, "Our goal in this study is to provide a reference point for returns for projects and users working on Cent delegation and to start/intensify competition among businesses. Currently, Cent can generate approximately 25-27% income through staking and voting."
As for the line of thought "Why bother with a riskier instrument when HBD Savings pays 20% APR?"; This is all about risk: probability of return. If we continue with the line of thought you mentioned, all Hive users are expected to sell their Hive Coins and invest in HBD Savings. Or more mathematically, we are expected to prefer methods that offer lower risk + higher return compared to HBD Savings. We do not see such behavior in most users. Because Hive price is extremely volatile compared to HBD. So is the price of Cent. Our perspectives on investment/investment instrument types are different from each other. Our risk perception is different from each other. Thank you again for your comment.
And cent is somehow not going to be volatile against the coins necessary to obtain it and convert to back from it to actually use for things?
I'm having a hard time understanding why I need these extra steps when hive/hbd are already capable of doing all the utility you mention, and even end up being how cent says it will pay its dividends. Why middleman? Why extra steps?
This is related to the fact that the cryptocurrencies you mentioned are different projects. Just like there are hundreds of token projects on Ethereum and the Ethereum network. Cent is a token project in Hive-Engine. The price fluctuation is targeted at around $0.01. There are six liquidity pools. And LP rewards are distributed in all of them. We do not see this in Hive. The work mentioned above is also about ensuring the usability and sustainability of the project. We are trying to reduce inflation with such work while maintaining its profitability. You can reach detailed information about the project from the content here.
There are dozens of token projects in Hive-Engine. Cent is one of them. They all have different promises and project features. Instead of talking about the necessity/necessity of Project X when there is Hive/HBD, we should think like "What can such projects add to the Hive blockchain?" The existence of different projects on the blockchain adds value to that blockchain. Also, as you mentioned, each project has different risks/return expectations. We should expect the project users to evaluate this.
Fair enough, full disclosure, when I get tokens sent to me from tip bots or whatever, I turn them back into hive as soon as they amount to enough to do so or ignore them otherwise. On eth the gas makes that impossible most of the time so I just have a pile of noise in my metamask from those and ignore it too. Good luck with your project.
Thank you. This is a strategy that some users also apply. Some users may also expect returns by investing in different token projects or trading tokens. This is entirely up to the individual's preference. We wish you success too. Have fun and success to all of us at Hive.