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 first event under sponsorship of Carpathian Basin is on its way. September 26, we will attend the Go-Kart competition where the plans for Fast Bullets Hungary 2021 will be announced. A great opportunity to familiarize car fanatics with the world of Blockchain.
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:
Besides staking on COTI mainnet there is an option to buy staking rights on KuCoin as well
For Staking COTI there are several options, but the demand outweighs the supply.
Staking in COTI main net
For the staking 2.0 in COTI mainnet in May, the amount of applied COTI was 5 times higher than the available Staking positions. In my view there are two reasons for that;
COTI has a solid use case with high potential, therefore there are a lot of people holding the token, while looking for future value increase, with no intent to sell quickly. If that is the case, it is better to let the token work for you and generate more revenue.
The staking returns are best in class.
Staking on KuCoin
Besides staking on COTI mainnet there is the option to stake on KuCoin as well. In total another 10 Million COTI can be staked here on top of the 40 Million on COTI main net. With a current circulating supply of close to 500 Million, this means 10% of that can be staked over the two solutions combined.
On KuCoin you cans stake 5 Million COTI with a 30 days term for 18% annualized return and 5 Million COTI with a 90 days term for 25% annualized return. However both staking options where filled up in minutes.
There is the interesting option though to trade Staking Rights on Kucoin. When you stake COTI (or any other token) on KuCoin besides COTI, you receive POL tokens as well.
On top of the 25% annualized return on COTI, you will earn an additional 24.45% annualized (changing in time) return on Pol. The staking results both in Pol and COTI are paid daily.
If you are staking COTI currently you can decide to sell your staking rights in exchange for POL through the trade option. If you didn’t have the chance to stake, you can actually buy staking rights through the trade option:
So it shows here that you can actually buy the rights to stake 2,203.4 COTI for the price of 66.76 POL. The 90 days staking contract still has 67 days to go (May 19). So based on that you can calculate if the investment of 66.76 POL for staking rights makes sense.
If you think it makes sense: Cost < Return on COTI and POL combined, you buy the right of staking and automatically 2,203.4 COTI in your KuCoin wallet will be locked and you will earn daily rewards for staking until the 90 days contract is finished.
After making a small successful trial yesterday, I will be looking to increase the staking position on KuCoin gradually.
On the lookout for new ways to build #passiveincome in order to fund my #earlyretirement, I came across Pynk.
Pynk is still a Beta version of an investment platform. Their platform is looking for two type of investors:
The time investors can invest their time into the platform to make predictions on the value of Bitcoin or they can do a forecast on different type of commodities.
By participating in the platform you can get crowd points, which you can use a collateral for earning wisdom point. For logging in you receive points, for answering forecasting question you receive points, but once you forget to log in for a day some points are deducted.
The accuracy of your daily prediction will than define the exchange ratio of your crowd points into wisdom points. The more points you bet and the closer your prediction is to the reality the more wisdom points you earn.
Than once per quarter your wisdom points are converted to Pynk points, which serve as shares in the Pynk investment fund and with that you will get your share in the profits from the Pynk investment fund.
If you can achieve a top 20 result at the end of the month, you can get an additional USDC reward.
The data provided by the time investors are fueling the artificial intelligence, which is a big part of the trade input process.
Soon you will also be able to purchase Pynk points to fund the investment portfolio and to have Pynk to work with your money to earn more. Of course a portion of this profit will be shared with the “time investors”
At this moment I am a “time investor” but as soon as it is possible I will become a cash investor as well with the purpose to achieve my #111Months challenge an retire at the age of 55!
Pynk has a very lively community on Telegram and is worthwhile to bring the Telegram page a visit for more info and for becoming a part of this very supportive community
The #111Months challenge was the originator of the change of focus. One thing became clear, the intention is not to focus on one business as apparently I am a multi focus person.
With a considerable hold in Brewdog, being part of the Oh!Live start up. Now supporting CITYUPTAKE as an active agent, while actively investing in stocks and crypto currencies it became clear that I am a serial investor.
As the #111Months challenge shows, I want to use this passion to achieve early retirement at the age of 55.
Not to retire, but to stop being a employee and becoming an employer. The base requirements to achieve this are the exact goals of the #111Month challenge. If these goals are achieved, Carapthian Basin will become an official Ltd with its own office.
The focus will be increasing wealth through smart investments combined with improving the local community by allocating a portion of revenue to this goal.
There are still 102 months left on the #111Month challenge to work out and execute this plan.
This website will be overhauled to show the plan, the bison, the approach and the progress.
In January, I started the #111Months program, to try to be in a position for early retirement in 111 Months.
After 5 months I have achieved a blended 4,3% of the final target (helped by the small surge in value of crypto-currency.
The goal is to acquire enough wealth combined with Passive income to be able to retire at the age of 55 (111 months from start) and be able to survive by means of passive income, without eating up the wealth.
The approach is:
Pay back existing loans, decreasing negative wealth and having more spendable income to build up wealth.
Maintain position in Brewdog shares
Maintain and slightly increase position in Crypto
Reinvest weekly CITYUPTAKE rewards to increase further passive income
Build a position in dividend paying shares.
Besides being able to retire after 111 months, the ambition is to have a solid social media presence by that time as well, so I can retire in my home office and can do investment management, while engaging in the crypto social media. The two chosen channels are:
Twitter has been chosen because of the historical Crypto engagement. Current amount of followers is just above 100, the target is to have 500 by the end of the #111Months project.
FriendsterIO has been chosen as I believe this is the future of social media. A young fresh new social media site, with integrated Crypto functionality. Non censored and decentralized. The target is to have 1.000 followers by the end of the #111Months project.
On way to get more engagement on Friendster is by starting the weekly “Castles of Carapthian” game, which his hit the top of the most popular posts section.
“Your Life does not get better by chance, it gets better by Change” – Jim Rohn
As mentioned in the previous blog, things evolve. This webpage evolves as well. Started out as a commercial website to sell travel inspired apparel, I will turn it into my personal investment / entrepreneur tracker.
So slowly but steadily I will convert the build up into a site describing the different legs of my investment portfolio, combined with entrepreneurial adventures.
So in time it will consist of pages dedicated to:
Brewdog craft beer
Conventional Pension fund
The goal is to use the combination of these 7 to build up enough wealth and passive income to retire at the age of 55