So I mentioned in this post that I had a very pleasant surprise. I had received some tokens as thanks for moderating a site called Steemhunt. I wasn’t helping out to get the tokens, I was helping out because I really loved the project and the tokens were a bonus I didn’t think too much about.
Since writing that post, the price of the token on Uniswap has risen slightly…
… which means that I’ve potentially got even more value out of a token I had totally forgotten about… amazing.
It is one of those situations though, where if I have enough of this token that if I tried to extract that value I would destroy the current price… so I’m definitely not going to do that.
Now, the rub is that there isn’t enough liquidity on Uniswap to actually extract that value. The Total Liquidity of the HUNT/ETH pairing on Uniswap would probably need to about $50k for me to get rid of all my tokens, and I’d obviously absolutely destroy the price in the process.
CoinGecko has let me know that there is more than enough liquidity for me to cash my HUNT tokens out…
… but the Exchange with the volume I could work with is Upbit, and to be honest, my Korean needs a lot of work before I’d be comfortable on that platform.
So… cashing out isn’t going to be super easy for me… and while I would absolutely love to throw $20k on my loans, I absolutely think this token has some upside still. The development team are still working hard on their incredible family of DApps.
While I knew Neverlose.money was being built, I actually didn’t know it existed until I was researching for this very post.
It’s totally brand new and still very much in Beta… but I love the idea. So many people in the cryptocurrency/blockchain world are just constantly freaking out about the latest news on their favourite tokens.
Those freak outs can cause the prices of those currencies to swing wildly, which causes more people to freak out. I’m sure you’ve heard of a situation where a company is in the news for a bad reason and their share price plummets? That occurrence is most days in cryptoland.
Neverlose.money will attempt to teach people to trust in their research and hold their tokens for months or years. The people with the strongest hands will literally profit of those people with less steely resolve.
I personally hate that people see cryptocurrencies as an investment at all. I want us all to be using cryptocurrency every day to transfer value all around the globe at lightning speeds, not hoard it like a dragon.
That said… if people are going to “invest” in cryptocurrencies then I would prefer them to hold onto it for years than panic every time they read a headline.
So now I have a bunch of options:
- Hold only my HUNT tokens until an English exchange has enough liquidity
- Increase the liquidity on Uniswap and earn a portion of the 0.3% transaction fees
- Use my HUNT tokens on NomadTask.com to socialize my own projects
- Lock it away on Neverlose.money and forget about it
I figure I’m going to be a winner with any of these options. I would, however, prefer to have my tokens working for me if they can.
I’m definitely interested in earning some of the transaction fees on Uniswap, but this plan does come with some risk and some opportunity cost.
I’ve detailed before how Uniswap works but essentially I’d have to match my HIVE tokens with Ethereum. I absolutely don’t have many thousands of dollars of Ethereum sitting around… but I do have nearly 3 ETH.
I’ve been earning interest on my Ethereum which I bought when it was about $94. (It’s currently sitting at $475) Obviously I can see why people invest in cryptocurrencies, it’s just annoying that people seem to only ever care about price.
Anyway, I’ve been earning 5.5% interest on my ETH by locking it away for 3 months at a time on my crypto.com app.
If I use my ETH to earn 0.3% of transaction fees on Uniswap then I lose the ability to earn 5.5% interest… however, it does mean that $1,400 worth of my HUNT tokens are also working for me. The transactions for HUNT tokens are super volatile. Some days there is barely $100 worth in transactions, and then in the last 24 hours there was $3500 worth (see first image of this post).
Opportunity cost again… I could also use that ETH to buy some more KOINOS and put that on Uniswap too.
Obviously a portion of 0.3% of $200 a day in fees is very different to a portion of 0.3% of $10.
This is where I tend to start to get paralyzed by the decisions to be made… but then I remember that I can’t really lose out at this point, it’s just all varying degrees of winning.
I’ll keep $400 worth of ETH earning interest in Crypto.com and will spend $1000 worth on Uniswap. I’ve got about $400 on Uniswap in the ETH/KOINOS pairing, so I’ll put the $1000 of ETH on the ETH/HUNT pairing and see how that all goes.
After that, I’ll throw some HUNT tokens into Neverlose.money and see how that goes.
I’ll admit that all of this does sound crazy to me, we’re talking about amounts of money that could make a difference in my life… but I think it’s more healthy to view it as a 10 year experiment. If after 10 years the numbers are up, great! If they’re down, what did I learn?
Thanks so much for reading!
Featured Image created by the HUNT team – Source.
Please note : The above post may contain affiliate links.
Below are some product referral links that I love and will benefit us both if you’re interested.
Splinterlands – A super fun blockchain card game that I play almost every day.
Coil – A $5 USD monthly subscription fee provides you access to a ton of content and sites in a way that fairly rewards the creators of that content.
Exxp – The WordPress App to link your blog to the Hive blockchain.
NomadTask – Earn for completing online tasks like following accounts or completing reviews.
MINT Club – Create your own Smart Media Tokens with no coding required.
GALA Games – Gala is creating a whole platform of blockchain games. Definitely excited about Mirandus, Townstar and SpiderTanks.