1 day to go until the end of phase 1

I'm back home after my tour of Switzerland. I had a very nice time but it was quite cold.

After the last update where we celebrated reaching 6000 HP with the @ctpsb account, I make here another update mainly to explain how the transition from phase 1 to phase 2 will be.

The first phase

During the month of September, people had the possibility to send hive, hbd, beneficiary rewards or even delegations to the @ctpsb account. All the contributions were noted and for each person a tab was created. At the end of September, for each hive contributed a CTPSB token will be emitted and sent to the person.

If you want to send some more hive to the @ctpsb account, please send it before 30.9.2020 24h00 CET. After this date, your contributions won't generate new tokens and will instead increase the value of all the existing tokens.

The second phase

On the first of October, probably around 8am CET, the tokens will be emitted. If some hive came in before this time but after the midnight the day before, I will still credit tokens. After the tokens have been emitted, all the hive that comes in on the @ctpsb account will increase the value of the token.

The market maker (MM)

The market maker has invested 200$ in hive. This gave a total of 1350 Hive. 675 Hive was sent to the @ctpsb account and the market maker will receive 675 CTPSB tokens on 1st of October. The market maker also has 675 Hive in liquid form. He will use these tokens and the liquid hive to create a kind of liquidity pool for the CTPSB token.

The MM puts all his tokens for sale at a price that is about 2% about the value of the token. He will also use a percentage of his liquid Hive to set some buy orders, also about 2% away from the value of the token.

If the token value is 1 Hive. The Market Maker will sell tokens for 1.02 Hive and put buy orders for 0.98 Hive.

The spread between these buy and sell prices, will allow the market maker to grow alongside the project and increase the liquidity.

How to buy CTPSB tokens after the 1st of October

The only way to buy CTPSB tokens after 1st of October is to buy them on the hive-engine market. The market maker will always sell 100% of the tokens that he owns. He will however only use a percentage of his liquid funds to buy back tokens.

How the project grows in the second phase

By buying tokens on the market. The tokens sold on the market by the market maker will be bough back from the @ctpsb account who emits them. So purchasing tokens will make the account grow in an indirect form.

Our objective is now to continue to make the account grow.

The account will also grow with all the income that it generates. Curation rewards, Author rewards, Beneficiary rewards and interests for powering up will cumulate and make the value of the token grow. At the same time the @ctpsb account will grow and provide even more powerful upvotes.

Learn more about the CTP Swarm Booster:

• The CTPSB Website
• The concept of the project