Two weeks ago we started a rebalancing of the project. We powered down the underlying account @ctpsb of the project and we burnt the according number of CTPSB tokens. The idea of the rebalancing is to adapt to market conditions and to make sure that the market maker has enough liquidity to purchase CTPSB tokens from the market.
The rebalancing has lasted for two weeks and we will add one more week to it. In the process we will burn a total of around 165 CTPSB tokens and the total of tokens in circulation will drop below 9300. Once the power down of the coming week is done, we will stop the power down because we think that there is now enough liquidity on the market maker for the needs of the project.
If at a later stage we believe that we are running out of liquidity again, we will simply restart a rebalancing.
As I mentionned before, reducing the number of tokens in circulation is actually god for the remaining token holders. There are some income sources on the project that don't scale with the hive power on the account, like author rewards and also rewards from mining tokens. This means that with fewer tokens in circulation, the return for the token holders from these sources will be bigger.
The numbers of this week
| Assets | Amount | Increase over last week |
|---|---|---|
| Hive Power | 33556 | -109 |
| Tokens in circulation | 9318.6 | -56 |
| Burnt tokens | 2179 | +56 |
| Token value | 3.601 | +0.02 |
| APR | 14.0% | -0.6% |
Learn more about the CTP Swarm Booster:
A project run by @liotes