Why Hive-Engine Tribes need a buy back program

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    achim03

    Published on May 05, 2021
    About :

    A couple of days ago, the ctp community started a new project called the @ctpchat. Inspired by @leomarkettalk, it aims to bring off chain communication to the blockchain. It's also a way to initiate new people brought to hive to interact with the blockchain through comments.

    In addition to that, the team around @jongolson will use this daily chat posts to burn ctp tokens. It will burn the income in ctp and also use the hive from post rewards to buy ctp tokens an then burn them. I believe this is a great idea to stabilize the ctp prices.

    The situation of hive-engine tribes has changed

    At the beginning hive-engine tribes had a very straight forward business model. There is the inflation and people stake the tokens to get a part of the inflation. As long as enough people wanted to get a part of this inflation, the price would stay quite stable.

    Then came the investment tokens and they started to buy and sell the tribe tokens to pay a return to investors. Lately, I see that there is more sell pressure from these investment tokens. This has a rather negative effect on the token prices. It's enough to kind of break the stability of the price.

    When you have a balanced market with stable prices. Even a small additional sell pressure can lead to lower prices, especially if it's regular and recurring and the market has a limited liquidity

    Hive Engine tokens need to create some buy pressure to stabilize their tokens

    The owners of tribe tokens need to create some buy pressure for their tokens to compensate the sell pressure of the investment tokens. Therefore, I believe that projects like @ctpchat are very good for the long term development of the CTP token.

    This chat idea is one solution. We see also nice solutions provided by tribes like musicforlife with their VFT lab that allows them to generate income to buy and burn tokens. Then there is also the option to show ads on the front ends.

    Whatever solution, I believe that tribe tokens need to have a strategy to create buy pressure for their token to insure a certain price stability.

    What do you think?


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    ctp leofinance proofofbrain archon neoxian

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