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Messages - chigbolu

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« on: April 11, 2023, 10:48:21 pm »
The following have been readjusted
Taker fee 0.2%
Market fee 0.1%
No Taker fee
Market fee 0.1%
The adjustment is meant to increase interest in the assets and create demand.

« on: March 28, 2023, 05:10:34 am »
Presently the only way to reward passive investors is via airdrop rewards.
Using airdrop rewards involve writing scripts which not all asset owners are capable of doing, it is also tedious and time consuming.
Bitshares has always rewarded the active users, most especially LTMs. Let's look at some of their benefits;
* 80% back on all fees payed to the network.
* Taker fee reward for buying an asset
* Market referral fee reward from refered users who trade actively
These rebates appear on their vesting balance.
It's time to start thinking about passive investors i.e those who hold and lend various assets on the platform. The market markers, etc.
The only way to truly include them is by having an interest pool for the asset.
This interest pool will act as an automatic airdrop pool, that rewards holders of the asset according to their the percentage of their holding.
The asset owner can delegate a portion of the market fees for the asset to the pool, or if it's not possible, he can fund the pool directly and set an interval for interest payment.
The interest payment would appear in the vesting balance of holders just like with active traders.
This feature would be really good for Liquidity pool holders who are interested in staking to earn passive rewards and Lenders who would like to use the credit facility of Bitshares. It would also increase liquidity on the platform.

« on: March 17, 2023, 07:44:43 pm »
The CRUDE FINANCE INFRASTRUCTURE has been on Bitshares for over 2 years now and despite the challenges it is important to think long term currently.
As of today CRUDE.LVRG Liquidity pools are still functional and work as is... despite the poor interest and low capital flow.
There's currently available 50million CLVRG tokens available to borrow at 7% (rates may change) to boost the Liquidity pools.. The current acceptable collateral is Bitshares.

Our stablecoin asset CRUDE.NGN has been adjusted to attract investment, it's original function was for P2P trading however it can still serve as an investment. The market fee has been reduced to 0.01% and the value has dropped to 5bn per $ in order to attract interest, 500bn has been made available on loan for users who would like to experiment with it's market, it has two Bitshares liquidity pool users can stake to, total value of the asset currently is $2000. The target is to inflate its total supply to 10trillion both liquidity pool and market trades, this would help to decentralize the asset and complete it as a decentralized stablecoin asset.

General Discussion / Re: Bitshares Technical Analysis thread
« on: March 14, 2023, 09:16:24 pm »

Bitshares still in accumulation zone

For loans I think long term loans are best for now due to the nature of the Bitshares market

These are the best for passive income on Bitshares right now

General Discussion / Re: Options market?
« on: March 12, 2023, 12:06:48 pm »
The traditional prediction assets were used to write options on Bitshares, however how many people bought the prediction assets. We have smart asset designed by litepresence on HONEST, HONEST.SHORT smart assets which are meant for hedging positions, up till now there is no much utility... The problem is users, even we have the put/call functionality on Bitshares where are the users?
The problem of Bitshares is lack of interested users

General Discussion / Re: Bitshares Technical Analysis thread
« on: December 30, 2022, 12:24:55 pm »
My bitshares end of year technical analysis bitshares traded between 0.04 for year high and 0.0069 for year low.
It is currently trading at 0.0087, and it is in the buy zone at 0.015 to 0.007.
The major areas to look at are from 0.007 to 0.0024 which are the early buy zones of Bitshares, when it was first launched. If bitshares was to get to this area then it would be a great buy opportunity for long-term holders.
Bitshares is still trending downwards and will likely do so into the new year.
The coming year, is looked at by many as an accumulation year, therefore the Close price of BTS by year-end should be noted alongside the yearly low.
It is important to note that bitshares may continue the downtrend till 2024. One of the reasons why this will happen is because of macro-economic factors, bitcoin's price, and utility.
On the part of utility, more work still needs to be done. The overall use of BTS is still low, in terms of trade volumes, liquidity pools and credit facilities. Hopefully more projects will come to Bitshares in the coming years.

General Discussion / Financial Crimes still persist on Bitshares
« on: March 01, 2022, 08:29:23 am »
The rise in cryptocurrency related crimes has increased over the years from hacks to rug pulls and bitshares is no exception.

Users are still not used to how the bitshares Blockchain works in terms of custody of funds. The gullible ones still fall for all manner of scam practices while the perpetrators go unpunished, this is a huge drawback in the fundamentals of bitshares that seriously needs to be addressed to improve user base.

I will raise two major scenerio that play out on bitshares. One is custodial scam and the other is proposal scam.

proposal scams have reduced a little due to the rise in cost of raising proposals, and the checkmates in place. However custodial scams are still an issue.

Due to the ease of naming accounts on bitshares, criminal elements are invested into phishing accounts and Ponzi schemes. There have been reports by gullible users of their funds being stolen by phishing accounts.

Some of these accounts are currently blacklisted but that seems not to be enough. There is need to cooperate with centralized exchanges like binance, Bittrex, Poloniex, etc where these criminals withdraw their illicit funds to curb down this criminality.

Once these criminals realize that their ill gotten wealth can be seized they will reduce their phishing schemes. This will also increase user confidence in the ability of bitshares to fight cryptocurrency related crimes.

General Discussion / Re: Bitshares Technical Analysis thread
« on: February 27, 2022, 04:36:54 pm »

« on: January 09, 2022, 07:49:45 am »
Here's a progress Update
We have reached 1million CLVRG in User Issued Income and the current valuation means we are currently @ 5% from achieving our first payout cycle.

What happens when we reach 100%?
At 100% the ROI for our payout will reach it's true value i.e 300%, 120%, etc. Let's all work to achieve this, it's easier now as the UII is at 1million a valuation of 0.001BTS can help us achieve that a 1900% increase from current price, which is so easy to  achieve if we all work together.

Here's the payout schedule of some of the pools for January.

We are currently midway into payouts for January...

The payout schedule for our 125million tokens distribution has also been changed to hasten the process, here is the current layout...

« on: December 28, 2021, 03:39:14 am »

« on: December 28, 2021, 03:23:24 am »
New Roadmap ahead of 2022

The year 2021 is over, but it hasn't been good for the project so far, a series of losses, poor funding and low user base, has hampered growth of the CRUDE franchise, however what's started must be completed, I cannot stop now over a few challenges, I'll use my experience to improve the project moving forward.
One very effective strategy that has worked for me so far is the airdrop campaigns, which is what I'll focus on more next year.
I'll also diversify whatever I invest to the project, some funds will go to external farming projects, to see if the fortunes of CRUDE can improve. Money made from the farms will then be invested into the project.
With that said here's how 2022 could look like for this project:

1. Airdrop Campaigns
At least one airdrop every month 10% of what is used to pay lenders will be set aside for the airdrop.

2. Yield Farming
Our focus for external farms will center around pancakebunny and multiverse capital but if more fund is generated we will expand our reach in order to maximize the potential of the project.

3. CRUDE swaps
 Every month there must be at least 10million LVRG tokens swaps across all pools.


Our Stablecoin has performed so badly this year dropping to an all time low of 3million per dollar. Because of this a new strategy has been developed to combat this terrible performance. Most of the supply about 9.99trillion has been sent to abit to manage, he has more resources so hopefully he will put the asset to better use in the future. The remaining one has been divided with most of it sitting in liquidity pools to preserve the current price. The NGN is now pegged at 1.5million/$ in current market conditions and this value is reflected in the Stablecoin pool I created recently and also on the order books.

5. More Pools
Liquidity pools are the main drivers of the CRUDE franchise, they are the main attraction and the reason why I'll still go on with the project, so far close to 20pools have been created, a few of the pools have been successful so far while others have not. I'll work on creating even more pools in the future in order to entice as many prospective lenders and farmers as possible. The pools am targeting will not be mentioned but hopefully by the end of 2022 we should have at least 2-5 more liquidity pools.

6. Marketing
Marketing is a major problem right now as the current market climate is very competitive, lenders are more likely to go to other projects that have high reputation and offer better incentives than I can offer, hence the reason for setting up the 300% APY LVRG reward program which I hope to run throughout next year, with this figure lenders are more likely to be encouraged to lend to our pools, however the reward slots are limited due to the fact that payments are processed manually, so it will run on a first come first serve basis.
We also have the 125million distribution program for stakeholders who have above 2million in their wallets and the 120% BTS reward for holding STAKELP tokens.
These three campaigns have been very successful so far and will continue to be the focus campaigns of the project.
From time to time efforts will be made to promote the project on social media outlets so that new users can come. I'll will focus on keeping the community I have now at all cost and then building on it hopefully by 2022 the project will get better.

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