This is a post by @hoosie, using an alt-account. This is an update on a tribe token experiment I started on the 10th of Nov 23. This experiment is designed to use a number of techniques to see if its possible to grow an account fairly organically, including:
- Delegating tokens to tribe curation accounts,
- Delegating HP to curation accounts that provide drips in the target tribe tokens,
- Via posting experiment updates in the relevant tribe accounts,
- And by using portfolio rebalancing (inspired by the XV token project from @spinvest which uses portfolio rebalancing to take profits).
I also use Inleo for posting updates, as that should also provide a small boost to the amount of LEO token income, which is one of the 8 targeted tokens in the experiment.
You can check out the initial post that explains it all here.
Rebalance Update
This is an update following a rebalance. ** If you want the short version - skip to the summary section (section 10) at the bottom !**
1 - Starting Position (change in basket value since the last rebalance before doing anything)
The table above shows the starting position for this rebalance, the new number of tokens (before the rebalance is undertaken, and spare HIVE is sold to buy more tokens). The table also shows the new token price, value and percentage weight of the tokens in the basket.
The additional tokens gained came from a combination of:
- Tips made in the comments of the previous rebalance post (none this time),
- Tribe tokens gained from tagging the relevant tribes in the previous rebalance post (using the tags; #leofinance, #aliveandthriving, #pimp, #pob, #cent, #neoxian, #inleo, #hive-engine, #tribes, #hive),
- And, tokens gained from delegation of the tribe tokens held. This worked OK, especially the delegation of ALIVE to @gestion.alive,
- I should start to also get some tokens from HP delegation which I've now started, but I dont think I've delegated enough yet for that to kick-in.
As can be seen in the table above, the basket value increased by quite a bit (2.845 HIVE) since the last rebalance due to due to the increase in price of price pumps in PIMP (37%), POB (33%), BEE (15%), LEO (9%), CENT (6%) and even CTP (1%). I wasnt expecting that !
2 - HP Delegations
In the future, there may also be some income from HP Delegation. I didnt get much from my last post payout, so I didnt have any additional HP to delegate this time.
The table below summarises the planned delegations and accounts to be used:
7 accounts paid out in the period, the only one I dont think worked is the delegation of CTP to @lolz.ctp. I'm not surprised that it didnt work noting that CTP appears to be dead now. The new delegation of ALIVE to @gestion.alive worked really well, which is great.
I now need to consider dropping CTP from the project completely - although I was surprised to see a price increase for it of 1.2%.
3 - New swap.hive to invest
As this experiment is only about the 8 noted tokens, all other income and tokens were sold for swap.hive to be re-invested in the tribe tokens. This came from:
- 50% of the previous week's post payout in HBD was sold for HIVE. There wasnt actually much in there, however I did also have a small amount of HBD on this account for some reason, and sold that too, which at todays low HIVE price worked out for a nice amount to use for buying more tokens (2.924 HIVE),
- And, selling off other layer-2 tokens, of which there was not much to sell for a total of 0.017 SWAP.HIVE.
That gave a new basket balance of:
4 - Rebalance Calculation
The 'total value to rebalance' figure from above was then used to calculate the new number of tokens that should be held in the basket, if spread evenly across all 8 tokens - see table below. The column second from the right titled 'difference from above' states how many existing tokens need to be sold (if the number is negative) and how many new tokens need to be bought (if the number is positive).
If tokens need to be sold, then it means that token price has done well in the period, and the rebalance acts to effectively take profit from the gain in that token's value in the period, so that it can be used to buy more of one of the other tokens that has had poor price performance in the period (ie, to buy more tokens at a bargain price).
The table above also shows the price change in the period. Everything except ALIVE and NEOXAG went up. So I sold some of the spare items I had (including making a mistake and selling a small amount of BEE and CENT when I should have). I was then able to purchase all of the ALIVE and NEOXAG needed as guided by the rebalance. I then also bought CTP ! Now I do think CTP is dead, but I had a small amount of HIVE left, and thought why not just in case it comes back to life for some reason !
5 - Actual Rebalance Result
As guided by the table above, the following action was then taken:
- Sold tokens that needed to be sold,
- Bought tokens that needed to be bought.
N.B. Due to the time it takes to un-stake tokens (if needing to be sold), and the difference in buy and sell prices, it may not always be possible to rebalance the basket exactly as planned (and that certainly was the case again in this period). Although over time it will average out, so that it should not be too far out. And as the curation income grows, so too will the liquid amounts available each period, at which point the rebalancing will work better. As such, the following table presents the totals after undertaking the actual rebalance, with the aim of trying to get as close as possible to the planned rebalance numbers.
From there - all tokens were staked, and delegated to the noted accounts.
So the rebalance worked fairly well as I was able to buy a nice number of ALIVE, NEOXAG and CTP.
That completes the rebalance process for this period.
6 - Summaries
The following table presents the summary for this rebalance:
The following table presents the summary from the start of the project:
So overall there was a nice gain of 6.158 HIVE which happens to be the biggest gain since the start of the experiment. I guess some of that has to be to the low price of HIVE - but I'll happily take it !
**7 - Method Assessment **
The table above attempts to summarise how the various methods have worked in the period, and rank them in order from best to worst (top to bottom). Its hard to capture the exact values from each method making a contribution, but it gives a rough idea of how its all working.
- The amount coming in from the previous post payout (inc the spare HBD I had) accounted for just over half of the gain,
- The gain in price of 6 out of 8 of the tokens covered for the majority of the rest of the gain,
- The rebalance method worked well due to the amount of ALIVE, NOEXAG and CTP I was able to buy,
- The curation payouts from token delegation also figured more highly than normal, which was also good to see.
8 - Change in Basket Value
So this rebalance chalked up another gain which was great - and the biggest one since the start of the experiment !
9 - Gain/Loss Assessment
I've updated the gain/loss assessment. The rebalance method (due to token price increases) continues to be equal with previous post payouts as a reason for making a gain during a rebalance.
10 - Summary
An overall gain of 6.158 HIVE is great under current market conditions, and I was really shocked to see so many tokens making gains (but happy about it). Clearly the values that I'm talking about here are small beer, but I just enjoy doing this experiment, as you never quite know what is going to happen from rebalance to rebalance. However it is great to see the total number of tokens increasing each time !
That wraps up this rebalance. Heres looking forward to the next rebalance already !
Details about my alt-account
This is a post by @hoosie, writing on an alt-account that I setup purely by accident when I didnt know what I was doing during my first few weeks on the Hive blockchain ! I thought I was getting an actifit account for my main hive account, and instead bought an entirely new actifit hive account, that I've rarely used ! I have used this account for the experiment because it basically had zero value in it (well about 1-2 HP worth), and importantly very little layer 2 tokens, and hence it acts as a clean slate to properly track progress for this experiment.
Requests to be tagged in the report
If you want to be tagged in the report so that you know when a new one comes out, let me know:
@fantagira, @tydynrain, @shanibeer, @new.things
Posted Using InLeo Alpha
