Post
Topic
Board Altcoin Discussion
Re: [HZGROW] An experimental "growth fund"
by
markm
on 09/10/2024, 17:52:56 UTC

I am pretty sure now that this HZGROW asset was created right alongside the HZDIA asset; clearly HZDIA I never even got so far as trying to assign it any assets to work with, I think before I got that far, while I was looking around for what assets I had available that could be put to work in HZGROW, I realised that I needed to re-think both ideas.

Part of the idea of setting up HZDIA as a Corp rather than simply tokenised actual DMD coins was the fact that DMD is a staking coin thus it seemed a poor idea for anyone to bail them in to anything at all if they were not going to continue earning staking rewards on their holdings.

So I was thinking maybe have a pool of DMD staking, and hold "shares" of that so as to accrue one's share of the staking rewards while one's actual coins were "bailed in".

I suspect it was in thinking about how to set up a growth asset, HZGROW, that the whole idea of not actually putting any "not treasury based"assets into "official treasuries" came about.

The problem being that unless we were willing to totally abandon any idea of ever being able to use "spot markets" as a "price discovery" mechanism it would likely remain necessary to have such "buy side assets" always "at risk" on various "exchanges" in order for them to be actively in use as buy offers on "spot markets" that aggregator/ranking sites such as CoinMarketCap keep track of.

So I basically moved on, and only noticed very recently that a few "shares" had actually been assigned to various accounts.

Searching around trying to figure out the current status of "the whole shebang" I have come to realise that the "dumper" who has vast quantities of Horizon's native coin HZ might actually have big gains to make, rather than the on the face of things big paper losses, from having "dumped" HZ down orders of magnitude on the Stellar platform; the fact that HZ thus became so ridiculously cheap that it is almost completely useless for building everything else's buy-side on Horizon means all the assets they bought ahead of time with their masses of HZ will, going forward, be likely to eventually sell for orders of magnitude more HZ than they spent on them.

So I see it might not actually be kind of silly to trash the price of something you hold vast amounts of; though I suppose in that case one then might wonder why not have spent all of it on other assets to later sell back for it? Diversification maybe, since if the trashed-price HZ turns out to be so badly trashed that it simply never gets used, Horizon reverting to an over the counter player to player "send me some of that and I'll send you back some of that" platform, its actual "markets" ignored/unused, HZ itelf simply never used except for transaction fees, maybe the whole platform will basically become dead until some other game or something picks it up and tries to use it.

Horizon still works fine as a record-keeping media for the game, tracking the "official treasuries" and "slush funds" and so on, it might just never become a place whose "spot markets" are of any use to anyone simply because all of them force HZ to be one side of the trading-pair.

Maybe for dirt-cheap assets it could work, even thoughI tihnk maybe HZ price has been trashed way down to even lower than what used to be the cheapest asset, DeVCoin.

Meanwhile I ran into a problem trying to get back into the Cryptopia claims portal, I had somehow gotten some version of an auth system to work to get in there originally but now neither google auth on a phone nor oathtool on command-line are succeeding in pasing its auth check.

-MarkM-