Update on funds securing the GLD token

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tergan12 hours agoPeakD2 min read

To be transparent


In case anyone is watching the GLD token and this account which holds GLD to back the token you will have noticed that I removed $100 HBD from the holdings. Why did I remove the money?

Well, a few things are happening.

  1. $5 HBD was sent to @ecohive so he can continue his Hive to Real World investing experiment.

  2. 200 Swap.Hive was sent to @gld.appreciator with the another 500 Swap.Hive to be sent a bit later. Those will be invested into EDSI, SURGE, and possibly PAKX tokens with their dividends being used to purchase GLD tokens to keep a strong buy side for it.

  3. I will be adding $141 CAD ($100 HBD) into mutual funds which I will hold personally. I will treat it as a "loan" to the @gldloan.test and make regular monthly payments back into Hive. The "loan" has been used to purchase a Global Covered Call ETF with a ticket of ZWQT. The idea being that the monthly dividends will purchase HIVE and eventually "pay off" the loan that was made to the account.

Reason: I'm looking into ways that we can use GLD funds to purchase real world investments and have them repay back into Hive. It is still in the investigation stage but I think it would be a fun addition to Hive.

More details to follow but for right now.

If you actually make it down this far here is how I'll be working the loan.

  1. Funds are distributed to an account as HBD
  2. The funds are expected to be invested either into real world tools or real world investments to make some form of income.
  3. Half of the income is expected to be used to purchase HIVE
  4. The HIVE is delegated to @hiveabbyftp
  5. @hiveabbyftp will pay out HBD tokens as a delegation reward to pay off the loan
  6. Funds then become available for the next person in line to get a small loan
  7. And the cycle continues
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