I have some updates for you all about ARMERO token, I have been thinking for awhile about closing out the mint. This is because the fund has grown so successfully that 1 sick citizen is no longer valuable enough to get 1 ARMERO token, or that 1 ARMERO token has grown in value such that it is worth more than 1 sick citizen.
The TL;DR is that each sick citizen can now mint 0.5 ARMERO token from here on out. Let's break down the details below.
Our @armero corportation has grown, and continues to be a top player in the dCity universe. About 9 months ago we launched as a 'safe space' for sick citizens to be sent - a sanitorium of sorts, specially suited for these unique citizen tokens, with all their related pluses and minuses.
And it has been that! Not only do the Sick Citizens enjoy the wide variety of hotels and casinos, but we have been a fiscally responsible government, dedicating income to reinvestment in infrastructure, into the SIM:SWAP.HIVE LP, as well as distributing a prudent amount to dividends for token holders.
Everything is going well. Too well in fact to continue minting new tokens at this price. Let's look at the numbers.
Recently the president has reduced the Sick Citizen rebate to its minimum expression, but we are still able to perform quite well in the rankings. We are bringing in about 490k SIM per week between rebates and ranking rewards, plus what we earn from the LP SIM rewards, which is about another 85k SIM per week.
These numbers can be higher, mostly based on the rebate provided to sick citizens, determined by the president. But the important thing to note is that, this is the lowest selection. It can be more than this, but not really much less.
We also have, between @armero and @armero2, value of NFTs at 79 million SIM, at the time of posting:
And don't forget our LP position, where we are ranked 7th and quickly coming up to challenge the next two big names on the list.
There are 85265 ARMERO tokens outstanding. When we calculate the price per token, which you can do by any metric you like using the numbers in this post, you can see that new minting at 1 ARMERO per sick citizen can only be diluting current holders.
I considered closing the minting all together. Working with what we have. But I think 0.5 ARMERO per sick citizen is fair for both current holders and new minters, competetive with the market price for sick citizens and keeps open the possibility for (infinite?) expansion of our great project here.
dCity still has quite a few updates up its sleeve, there is more game to come, and we will manage the assets under our control the best we can, as well as continue trying to promote both the lessons learned from dCity and the viability of the game itself, when the opportunities present themselves.
Questions, comments or concerns? Express them below - as always I enjoy interaction with your thoughts, especially the ones I haven't considered before!
