With COTI Carpathian Node running smoothly and ORN Carpathian Brokerage under preparation, it is time to check out the potential projects in which setting up a staking pool would make sense. The initial candidates are projects like Unification ($FUND), Wanchain ($WAN), Harmony ($ONE) but first we should cast a wider net to see the possibility before narrowing it down.
After more research is done the details will be shared. In the meantime the structure behind the upcoming Carpathian Orion Protocol Brokerage can be found by clicking the link.
Another source to explore is the overview made by CryptoDiffer and in this article by hackernoon. Here a lot of details are worked out about Fantom, COTI, Tachyon and Harmony.
Using the Carpathian Node on COTI Blockchain as a proof of concept, now preparations are on the way to set up a collaborative node on Orion Protocol as well. The legal framework is on the way to finalization and the participants have been found.
This will be one of the first Democratic run collaborative nodes on the Orion Protocol
Sometimes in life you get roadblocks or setbacks, which hit pretty hard when they occur, but soon after teach you valuable information.
The issues with CITYUPTAKE (how ever the end will be) have thought me to act more on my discomfort with little things, some would call them red flags.
The other learning is, when becoming part of a team, always strive for full transparency with open and consistent communication.
Being part of the CITYUPTAKE agent team has led to a big loss in funds, how big is still to be seen, but even more importantly my name has been connected to a project which has left a bad smell. People have lost funds by a project represented by me.
So no more huge ambitious projects as a team member where the requirements of transparency and communication are not met. There where I would handle the assets of other people this will only be done in a solid and legal structured in full transparency.
With having Carpathian Basin Kft. (Ltd) established the framework for this has been set. The Carpathian COTI node cooperative will be upgraded from legal point of view and this will become a blue print for other small scale Node cooperations in other blockchains like Orion Protocol.
Besides that another project is in preparation with a solid team of trusted professionals. This one will launch on October first and more details will follow.
Finally all efforts will be put in place to recover as much funds as possible for the investors in the Pi token who got severely impacted by the CITYUPTAKE happening.
The year of building passive income, how is the progress so far?
Time for another update on my passive income generators. In the last one and a half month two of the passive income generating coins have reached the target level set out at the beginning of the year and another token is added to the family of income generating coins.
Through continuous compounding where possible (mainly on the TRON Blockchain tokens), the USD value received per day increases (Blue) and the TRX value received per day (Green) as well. As some rewards are weekly or monthly and most daily, I have chosen to use the 7 days average to measure the progress.
The other major source of passive income is COTI. Unfortunately the staking rewards received by running a Community Node cannot be compounded, but with the current (and expected future) value increase of the COTI token, it will be contributing to both wealth increase and passive income significantly!
It seems the target size of the token bags for the end of the year are realistic. As planned this year has been the year of putting in place a solid foundation for passive income generation.
How Carpathian Basin evolved from a T-Shirt printing company to an investment company with Merchandise
With the official incorporation of Carpathian Basin coming up it is also time to think about some nice Merchandise.
It all started in 2018 with an idea to start a experience based t-shirt company called Carpathian Basin, as this is the location where I am located. I made some nice shirts inspired by travels, but found out soon enough that though I loved the name, the business model was not that great.
While I was figuring out that the business model was not the best, my crypto portfolio was increasing week by week and inspired by that the focus was moved to the #111Months challenge and the new profile of Carpathian Basin was found: Blockchain.Investment.Community.
The freshly created Merchandise features the current Blockchain pet-projects in my portfolio:
We are proud to run a node on the COTI blockchain and with the recent developments with COTI Viper and Blockchain Dollars, we are very bullish on COTI as a whole:
This video explain the COTI Universal Payment System:
CITYUPTAKE is consistency. Great rewards and already going strong for almost 2 years:
I would dare to say that CITYUPTAKE is the reason why the value of my crypto portfolio is green while building it in a continuous bear market (although lately COTI also played a role in this)
But also the Pi-token from the Crypto Universe deserves a spot on that Carpathian-Basin Merchandise. A consistent reward giving token with some fun interactions with the holders through weekly games.
During the month of May we were running the COTI Community Node, but after the Node Operators have been asked to set up their own fee’s, we have been re-branded to Carpathian Node.
Our node fee of 0,09% is average compared to the nodes, and the maximum fee of 90 COTI is lowest together with the Veru Node. With that giving the best value for Merchants with high transaction values, while the Merchants with lower transaction values are better off with Rufys or Bitcoin Browns.
Regular update on the progress of the portfolio of Passive Income generating tokens held.
Time for a new update on the passive income goal for 2020.
Due to the positive results of staking of BTT on DLive I have increased the target of the amount of BTT to hold by the end of the year. This is actually the third token out of the 6 passive income generators for which that decision has been taken. And as the value of crypto is still low, it is still cheap to further build the position in all of them.
Although the target is kept the same, CITYUPTAKE is still going strong and besides buying more CITYUPTAKE the rewards received are used to increase the stack of BTT and Pi-token in the last couple of weeks.
As CITYUPTAKE accounts for the biggest portion of my passive income generating tokens, it is bringing the biggest income impact as well. Although with the heavy push on other tokens, that portion has been decreased from 49.3% a couple of weeks ago to 48.5% currently:
$COTI, $BTT and $Pi token have increased their share, while $CITYUPTAKE and $WINk didn’t increase quick enough to maintain their proportional share. All in all a good foundation has been set for future income generation to support the #111Months project.
With the ending of the 16th months of the 111 Months challenge, it is time for a new recap. While the end of month 15 was a drop back due to the value drop of Crypto and the general impact of the COVID19 on the market, April shows the month of recovery.
Having significantly increased my holdings of CITYUPTAKE, CITY Alpha & Pi Token, I have been building further on solid increase of passive income, this doesn’t show yet due to the low value of crypto still in the majority of April.
Besides that being appointed Community Node for COTI, allows a significantly higher amount to be staked and also the start of staking BTT in Dlive brings some great expectations for the future.
So with all the above, there is great trust that soon we will reach a passive income equal of 15% or more of the final goal.
A great recovery of Crypto values and a decent recovery of share values has boosted the wealth. On top of that a considerable investment was done in COTI to fill up the granted staking slots, which resulted in some everyday cost cutting but resulted in a nice wealth boost.
Due to COVID actions, salary was temporay cut, but also loan repayments were stalled by the government. This kept the monthly spendable income on par, but the result was that loans are not being re-payed, slowing down the decreasing of the loans as part of the financial overview.
To further balance the wealth portfolio, I have also started stocking up precious metals like gold and silver, to have create an easy to liquidate portion of my wealth with a stable value.