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.
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.
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.
The regular update on the passive income dashboard
With the Crypto market slightly recovering from the dramatic value loss in March, it is time to update the Passive Income dasboard again. As the amount of cryptocurrencies included has changed a bit, the format has changed a bit as well:
Due to the slow evolution on ADA, I have decided to take it out of the passive income token portfolio, as the contribution will be lower than the other 6 coins in there:
COTI For COTI I have increased the target hold after the announcement that we will be allowed to run a community node on the COTI blockchain.
Pi-Token The growth of the Pi-token portfolio has been happening quicker due to the low prices of Crypto, which led to an increase of the targeted bag size.
BTT BTT has been added as a new passive income coin after the staking option in Dlive went live.
CITY Alpha CITY Alpha has been added as there will be a possibility to increase the bag size in the future and it has already been a passive income generator for a while
CITYUPTAKE As this is where I hold my biggest bag, it will always be a key element of the passive income strategy
WINk WINk is continuously giving small consistent rewards, and the hope remains that its value and with that the hight of the rewards will grow in the future
Carpathian Basin has been selected as the future Community Node on the COTI blockchain.
This is the start of a new chapter. As of yesterday April 24th, Carpathian Basin has been selected to become the next Community Node in the COTI blockchain as laid out in the message in the COTI telegram channel yesterday.
This is a big honor but also a big responsibility. In the coming days, we will find out the exact requirements of running the Community Node and the difference between running our node on the COTI Testnet.
We will create a plan on how we can support the COTI blockchain in optima forma and for that purpose, we will extend our COTI node page on the website with an introduction of the team (done), a roadmap of our plans to support COTI and detailed info about COTI in order to introduce new people to this great Blockchain.
For now we would like to thank the people who put their trust in us and voted for us. We will honor that trust with our hard work to contribute to the mass adoption of COTI as the “Coin of the Internet”.
The $COTI blockchain, one of the projects we are engaged with has opened a voting to decide on the next Mainnet Node to be switched on:
We have put in our candidacy and are collecting votes. This is a unique and very democratic way to decide on who will be the next mainnet node and as Carpathian Basin, we are proud to be part of this process.