This post will serve as something of a 'postmortem' for the LABFUND project. It has transitioned into its final form, and I will tell you all about that today.
To remind you, we did a 10,000 HIVE raise for LABFUND, and made great progress by paying divs in the form of ARMERO tokens, spinning off that (still going) project out of the LABFUND. We also did swap backs and buybacks along the way, and today the project is officially 'dead'. Well, kind of. It will take a while.
Here's the history of the project:
Launch
Only 4k left!
Sold Out
0.28 rebate
Airdrop Complete!
Dividend Payments
Super Swap back
Ambitions and Endgame
Continues Strong
Soft Update
Twin Tokens
Six month anniversary
Update
After this, I slowly continued updating ARMERO token, but not so much LABFUND, as there wasn't much updates left to do. There were no more citizens to experiment on, and we were just selling SIM and using it to engage in buyback.
At the moment, we have bought back 4811 of 10 thousand, or 48.11%.
And now we have 'sold' our city. So we had this problem, the program was generating an alright SIM income, but it was necessary to swap all the SIM sooner or later for Swap.HIVE. With SIM undergoing its own downward pressure, it was starting to feel less like we were helping the game doing something interesting, and more like we were sucking the life out of it.
So I made an executive decision. I traded the entire city to myself for 19 million SIM, as you can see in the screen shot above.
One benefit of this is that we are getting payouts in liquid HIVE. And with the current BeeSwap convert meta, we are also generally getting bonuses by swapping that HIVE into swap.HIVE, where we can contiue to buyback LABFUND until the end of time, or until 10,000 tokens.
Let's take a look at the richlist:
There are 21 users (apart from @superlab) that still have some LABFUND. But less than 700 outside of my control. So here comes some game theory, maybe even a fancy reverse dutch auction where you compete to sell back. Or not - you all decide!
Once in a while, @superlab will put up a buyback for 1 HIVE each. If there are any listed already, it will buy those first. If there are none listed, or less than the swap.hive on hand, @treasure.hoard will list into the buy that remains.
Depending on how fast you hope to get your funds back, you can do the game theory that suits you best. Maybe you list at 0.99999999 to sell faster, however you feel. Its up to you. Our SIM Power hasn't quite caught up yet to be able to calculate an estimate on how long it will take to buy back all the tokens. But it might be 3+ years.
So unless you are me, get outta here! Parties over. I've been trying to shake you out for a while now, the alpha is gone, you got the divs, all that is left is the buybacks. The sooner I shake the rest of you out the sooner I can negotiate amongst myselves and close this baby down for good.
I'm open for questions or comments!
