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.
The cVIX is the first decentralized version of the VIX for the crypto market, covering major crypto assets. It is created by computing a decentralized volatility index from cryptocurrency option prices together with analyzing the market’s expectation of future volatility and working in a decentralized fashion by using a network of decentralized Chainlink oracles.
Below an example of the cVIX chart up to October 4:
The great news though for COTI holders is that the $cVIX token will be distributed according to the following distribution model:
So 10% of the total supply will be distributed to people holding the native $COTI token in the new Viper wallet, where they can claim their share of the $CVIX tokens for 8 consecutive weeks.
To not give a great advantage to the bigger Whales, there is a maximum of 500k $COTI per wallet which is eligible for $CVIX allocation.
This is another great example why it pays of to be an early holder in $COTI tokens.
19 out of the 111 Months have passed and progress of the road to early retirement is great. Both wealth building and passive income generation are well on track. The value of crypto on August first created a big boost in the wealth department and the success of COTI and Dice tokens, next to the continuous performance of CITYUPTAKE has resulted in the best passive income generating month so far:
Will ORN be the next node / brokerage for Carpathian Basin?
After COTI, the next blockchain in focus now is the Orion Protocol. Orion is a relatively new blockchain. The purpose of Orion Protocal is providing a platform for traders looking for the best exchange for executing a trade.
Currently the Orion Terminal is in closed Beta and there is a staking initiative on KuCoin with a 40% APR.
So how does it work, as a token holder you will either be able to stake at a brokerage or become a brokerage (minimum 10k ORN required). If your brokerage is used for the transaction of the trade which occured on the Orion Terminal, you will get the trading fee, which has to be shared with the stakers into your brokerage.
After COTI, this will be the next blockchain in focus to establish a node (brokerage).
Month number 18 of the #111Months challenge has finished, time for a new status review.
The road to financial freedom is looking more promising than ever before. The last three months a full recovery has occurred from the weak start of this year. A big important step has also been initiated in June, which is the incorporation.
Per beginning of August, Carpathian Basin will become Carpathian Basin Kft (Ltd.). As a corporation through Hungarian tax law, the taxation on earnings will be much more beneficial than taxation as an individual (9% vs 33%). This helps building up the investment portfolio in a higher speed than doing it as a private individual. On top of this expenses, like webhosting, wifi, office equipment etc can be deducted from the profit, further bringing down the tax pressure.
Portfolio build in June
In June, the focus was on building portfolio in Crypto and shares while continuing to pay back loans. In Crypto the position in $CITYUPTAKE (TRX), $Pi (TRX), $BTT, $CHZ and $COTI was increased significantly. Because of the staking returns for staking $BTT in Dlive, the BTT position was build up quickly and is daily increasing. For $COTI running the node, with the resulting staking is bringing monthly natural growth, just as CITYUPTAKE and Pi. For BTT and COTI a new target should be considered as the goal has already been achieved.
The wealth building has seen a little sprint in June. 4.6% of the final wealth goal has been achieved. With an increasing amount of passive income generating assets, the wealth build will increase especially once all loans are eliminated. We are slowly leaving the linear growth as the goal is to get in a state of (semi) exponential growth.
While the wealth is growing the distribution is changing. It is mainly the loans which proportion is decreasing while the crypto proportion is increasing. In the end the goal is to achieve a similar proportion for crypto as for shares and in a later phase also real estate.
With the increase of passive income generating assets, the passive income increases. Adding BTT had a big impact as well. The successful month of February could not be replicated yet, but the trend is clearly positive. A level of 13,1% of the income required to retire is already achieved. The value of crypto assets has a huge impact of the level of passive income achieved.
All in all the road to financial freedom looks very promising with still 93 months to go.
A month has passed, time to review the progress in the #111Months project.
The goal of the #111Months project is to achieve early retirement at the age of 55. When I was 111 Month away from that, I started the #111Month project, created a targeted wealth and a targeted passive income enabling myself to retire from corporate life and move into managing and extending my passive income generating portfolio through Carpathian Basin Ltd.
With a nice small crypto run just before the end of the month, the wealth build is back on track. Also the share values recovered nicely, so the dip which occurred 2 months ago has been eliminated.
Most of the tokens held for passive income have been performing well. – BTT has recently started it’s staking project on the DLive platform which has been consistently delivering around 40% annualized returns. – COTI has finished it’s first month with Carpathian Basin running the COTI Community Node, now rebranded to Carpathian Node, delivering more than 40% annualized returns. – CITYUPTAKE is still consistently delivering more than 30% annualized returns. – CITY Alpha is generating solid returns combined with its progressive reward generating program. – Pi gives 18% annualized return with full flexibility.
Only WINk has not delivered stable returns the results fluctuate day by day. On a good day, I use the rewards to increase the WINk stake on a bad day, I am using the rewards to buy Pi and increase that stake.
In general I am ahead of the plan of building my portfolio of passive income generating tokens due to the good returns of the tokens held and due to the low price of Crypto still
Plans for June
The main focus for June is:
Continue to drive for increasing the portfolio of passive income generating crypto tokens
Increase regular share portfolio
Give full support for CITYUPTAKE, Pi Token and COTI to be part of their succes
Start incorporation of Carpathian Basin to reduce the Tax impact of Crypto earnings helping to build Carpathian Basin quicker.
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.