Update About The Miners - Suggestion For A Better Strategy

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Published on Apr 30, 2021

About :

Here I talk about the miners for the ALIVE token, ALIVEM, and I share a strategy for them that I think is much better, and I want your feedback about it.

Graphic made in Desygner

Hi there and welcome to my vlog, my name is Erik Gustafsson and I go by the handle @flaxz.

Update About The Miners - Suggestion For A Better Strategy

The original idea for the miners was that we should increase the number of winners per hour as we released more miners to the market, but then we found out that the max winners per hour is 20.

The miners are acting like a ticket to an hourly drawing that gets 20 winners at most, and I did not have a good idea on how to adapt to that at the time.

The max supply of miners that we have is 1 million, and with just 20 winners per hour we will not be able to sell them, so I have now thought out what I think is a much better idea.

The idea is to have a max of 15 000 miners, the rest of the max supply, 985 000, will then be burned by sending them to @null.

The reason why we need miners in the first place is to fund tribe development and to buy and stake BEE in the @aliveandsocial account in relation to active users, 1 BEE per active user is a requirement from Hive-engine.

Now back to the 15 000 miners, that is a low enough number for each miner to count, but high enough that we can set an initial price that is affordable also to smaller accounts.

The pricing I have thought of is to start at 5 Hive per miner for the first 1000, and then double that for each 1000 that is put on the market, which makes the table look like this.

ALIVEM	Price	Sum Hive
1000	5	5000
2000	10	10000
3000	20	20000
4000	40	40000
5000	80	80000
6000	160	160000
7000	320	320000
8000	640	640000
9000	1280	1280000
10000	2560	2560000
11000	5120	5120000
12000	10240	10240000
13000	20480	20480000
14000	40960	40960000
15000	81920	81920000
Total		163835000

Selling 15 000 miners with the old strategy would yield 25 500 Hive, and selling the full 1 million would yield 50 950 000 Hive, but we would not be able to do that.

In this setup selling all 15 000 miners would yield 163 835 000 Hive, not very likely unless we grow to 100 million active users, in which case all miners would still be meaningful and mining ALIVE tokens at an attractive rate to it's holders.

What this stategy does is to make each miner count in the hourly drawings, and at the same time it also makes them much more valuable over time to people holding them.

So my suggestion is that we update our White Paper and use this strategy for ALIVEM, what do you think?

I want your feedback.

Plan For Releasing The Miners

If the above plan is accepted, then we follow the plan to fund the operation of the miners by selling them on the market.

We need 1000 BEE to enable Staking, and 1000 BEE to enable the Mining Smart Contract, plus 100 BEE to adjust the settings of Scotbot, so 2100 BEE in total and we get them by selling the miner tokens.

This means that the miners will not be working when we start selling them, so therefore I want to see standing buy orders of ALIVEM at the 5 Hive price point of at least 1000 Hive before I feel confident to release them on the market.