As creator of the GLD coin I think it should fall upon me to do the weekly update as to what is going on with the GLD Coin.
But
First: What does it stand for:
G - Generate (income)
L - Live life (use income)
D - Develop community.
Second: Where is it used:
It is to be used as the coin in the #earnspendgive community. Weekly rewards for the community will be given in the GLD token to people who write on the post prompt.
Third: Where do I buy or sell it?
It is on the hive-engine exchange but typically it is easier to buy and sell using the tribaldex.com liquidity pool between GLD and Swap.Hive
Fourth: Why should I buy it?
You shouldn't. Right now it is a token in development. If you want to hold the coin simply post quality content in the #earn spend give community and you can get the coin free. You could buy it but as I said, this isn't the time.
Fifth: What is its end use case scenario?
That's complicated. However, it is intended to be a reward coin for the #earnspendgive community. In the future it will also be used to purchase items made available for sale in the community but community won't be doing "regular" buy and sell transactions it will be more like staking coin for real world goods. In addition the goal is to purchase enough BEE tokens to create NFT's and distribute GLD to NFT holders.
Current state of the coin:
Initial Value from Tribaldex : 100 GLD = .635 Hive
Last week 100GLD = 1 Hive
This week it is exactly where I want it to be....Pegged at 100:1 or a Hive Penny 😄 .... You will notice I want to keep it pegged at a penny and won't be buying more to increase its value. There are also no staking rewards so buying this on speculation it will go up is a BAD IDEA. I'll be working on getting NFT mining up for the coin and have payouts that way but until that happens buying for increased value is not a great idea.
As for the liquidity pool. It's gone from a value of $170 to $206 in a week. Guess HIVE is having a bull week, horray!
This weeks rewards
This week 500 GLD is to be distributed to the four authors in #earnspendgive (yes I said I was only distributing 366 GLD last post, I changed my mine 🙃)
@rare-gem
@jjmusa2004
@supernova004 <-- Special shout out. Thanks for cross posting 😁
And a new posters!
@johnny023 (welcome to the crew)
@henrietta27
Will each be receiving 100 GLD token each.
This weeks purchases.
@terganftp was awarded 36.755 Leo coins for his delegation to @leo.voter
Those coins have been used to purchase 5.73 HIVE which will be mixed with 581 GLD to increase the value of the liquidity pool and cover the 500 GLD that was distributed this week.
Overall there are 40,000 tokens available
As for is holding the most?
Well, move of the coins have moved over to @terganftp in both the liquidity pool and as free coins. As for everyone else here is the list :
Unexpected value in the @hiveabbyftp account.
As an unexpected twist my weekly post for the coin actually got upvotes.
Shocking!
It wasn't a large upvote but a few extra HP added in and 0.27 HBD added on. The HBD was converted to 80 GLD coins but as a question to any #earnspendgive community members.
Should those coins be added to the liquidity pool, distributed amongst group members, or used to purchase BEE tokens to speed up NFT mining? I'm curious what the community would like.
And that's the coin update for this week
Thanks for reading