CITYUPDATE

April has finished. Time for a recap.

A new month a new CITYUPDATE. Please see above the monthly newsletter of CITYUPTAKE.

April was a very successful month with regards to the growth of the amount of CITYUPTAKE tokens in circulation. Apparently consistent solid are becoming more popular nowadays. It is good to be part of a project that turns market volatility into rewards for its token holders..

#111Months

Month 16 the month of recovery

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.

#111 Months, update 16.

Staking

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.

COTI staking results for April
BTT staking results to date

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.

Wealth

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.

Distribution of wealth over the 5 mayor categories.

CITYUPTAKE

Reviewed through the numbers

Weekly rewards and share of circulating supply over time for holding 100k CITYUPTAKE tokens

This graph gives a good view on the consistency of rewards for holding CITYUPTAKE tokens while the portion of the total circulating supply decreases (dillution). The rewards recently consistently hover between 800 and 900 TRX per week.

Total rewards paid out week by week

This graph indicates the total rewards paid out week by week, it is clear that it is just a matter of time until the weekly 400k TRX paid out will be passed.

Cumulative rewards paid out by CITYUPTAKE since its inception

Continuously growing cumulative rewards have been increasing steadily and will surpass 25 Million TRX in the second half of May.

Check out CITYUPTAKE in http://www.cityuptake.com or https://t.me/CITYUPTAKE

Pi-Token income distribution

Break down of the weekly income distribution

In light of transparency the income distribution of the Pi-token is openly shared.

Week of April 26, Pi-Token income distribution.

In the graphic above it can be seen that roughly 60% of the income received has been distributed to the holders of Pi-tokens directly.
Roughly 30% went to the reserve wallet, which is used to maintain enough buffer to be able to have holders return their Pi token for a 1:1 swap with TRX and to build a rewards payment reserve to establish trust.
Around 10% is used for maintaining and supporting the ECO-System of The Crypto Universe.

The Pi-token can be bought through Seedit in the Promille Telegram channel.

In that same Channel we now have a weekly and monthly gaming competition with Crypto prices to attract more traffic to the channel.

Weekly gaming competition announcement

COTI Community Node

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.

Community Node win announcement

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”.

Pi-Token

A small introduction to Pi-token as part of the Carpathian Basin eco-system

As part of The Crypto Universe, we have have created the Pi-token. With this it has become an integral part of Carpathian Basin ecosystem and it got its own place in our website, next to COTI and CITYUPTAKE.

Pi-token is a token on the TRON blockchain, which enables people, with lower amounts of $TRX or people who do not like to do KYC a possibility to earn some nice rewards while not having their funds at risk as the token is pegged 1:1 with TRX.

75 days after it has started paying rewards, the circulating supply of Pi has grown to 789k tokens:

Circulating supply of Pi-token.

In that period a total of 18.8k TRX has been payed out to the holders of Pi-tokens and the daily payment amount is growing day by day:

Cumulative rewards paid out to holders of Pi-tokens.

The Pi-token is funded by holding reward generating tokens and these rewards are then used in the following way:

income distribution of the rewards received by Pi-Token

In the week of April 19, a total income was received of 4,105 TRX. Out of this close to 10% (408 TRX) was move to the founders wallet to maintain the eco-system.
2,449 TRX was shared with the holders of Pi-tokens (average close to 350 TRX per day).
45 TRX worth of crypto was paid out to players of our weekly gaming competition in the channel.
1,202 TRX was moved to our reserve wallet, which is in place to fund the flexibility of offering a 1:1 peg to TRX.

Daily payout announcement, April 23 (payout 75)

As visible in the graphic above, close to 79% of the holders have chosen to switch on auto-buy as this results in automatic compounded carefree growth of the amount of Crypto held.

The different in returns explained between holding Pi and switching on auto-buy, based on 100k Pi held

Running for COTI node

Carpathian basin is running for mainnet community node on $COTI blockchain. Please use this link https://forms.gle/MXX2176hc72NUWwo6 to vote for us

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.

Voting can be done through this link:

https://forms.gle/MXX2176hc72NUWwo6

And if you think we would be a good candidate, vote for @Carapthian:

Pi – Token

Introducing Pi-Token

After CITYUPTAKE and COTI, I have started intense participation in a third Cryptocurrency project. The project is called The Crypto Universe. The intention of The Crypto Universe is to be a platform to help people who are new to or inexperienced with Blockchain and Cryptocurrency specificly to land in the big bad world called Crypto.

The Crypto Universe

The Crypto Universe website consists of several sections, which will be filled with content gradually.

The roadmap describes them one by one and the first section which has already gone live is the Promille Project:

Promille Project

The Promille Project is the part of our Eco-system which will contain a variation of Tokens to the benefit of its holders. The first token created in the Promille Project is the Pi-Token. The Pi-Token is a token which uses invested TRX to create a passive income, while guaranteeing the value of the invested TRX. “Building Trust through Transparency”. The white paper explains this in much more details:

Main features of Pi-Token

The Token was created on 02-02-2020 and has been paying out rewards for close to two Months now, which was on of the reasons for a summary of the achievements so far.

Two months summary of the Pi-token

More features of The Crypto Universe will come and more info about the Pi-Token can be found here: https://t.me/promille_project In time The Crypto Universe will get its own section in the Carpathian Basin website.

#111 Months – 15

Months 15 of the 111 months early retirement has finished. Time for a summary

The 15th month of the #111Months challenge has finished and due to the global situation we are in, it was a month of a major step back. Both the share values and the crypto value dropped back. Eventhough the spending has been reduced, giving more opportunity to buy more Crypto and shares, the nett result was negative.

111Months cockpit month 16

The proportion of loans on my total wealth has climbed up after a steady continuous decline. In the coming months, our government has suspended loan repayments, so the free cash will be used to increase exposure to shares, crypto and precious metals.

Loan proportion of total wealth.

Also the passive income generation has suffered over the month of March and has dropped significantly. Even though the holdings of all passive income generating assets have increased and a new asset (Pi-Token) has been added to the list of passive income generating assets.

Passive income generation vs targeted passive income at the end of the #111Months project

With March having been an extremely busy month, setting up another Crypto project while dealing with COVID19 issues in normal work, the blog has been neglected a bit. But a recovery is in place

Crypto market cap over time

With the mini-bull run behind us, I thought it would be nice to check how the Coinmarket cap developed over time.

Coinmarketcap over time

The table above shows how the top 20 has changed significantly from 2017 (Jan 16) to 2018. However in the following years there was less of a shake up. Clearly the market cap has been severely impacted by the 2017 end of year bull run. In the following bear market the ranking has stayed relatively stable. To my surprise there are still quite some Forks in the top 20 and I would expect the majority of them to drop our during the next bull run, as I would hope that utility will become more important than the name of the project.

However the top 3 of the Coinmarket Cap seems unshakeable.

This exercise led me to investigate the coins in the top 20 a little bit more in detail and I finally checked out LEO, as it has always intrigued me, what is it and why is it in the top 20? I will add some more words to that at the end of this article.

So what happened with the projects vanishing from the top 20?

What happened with the top 20 drop outs?

The projects dropped out in the recent years have been able to keep a position in the top 50 with the exception of ICON. But among the projects, which were shaken out after 2017 there is a bigger variation to see. Clearly a lot of them have been overtaking by newer projects with superior technology.

What is Unus Sed Leo (LEO)?*


“Unus Sed Leo (LEO) is an exchange token that was launched on May 22 by iFinex, the parent company of Bitfinex, Ethfinex, and Tether. The LEO token is an exchange utility token for current and future iFinex trading platforms and services.

It was launched to the public following a private sale raising $1 billion. During this private sale, the purchase price of Unus Sed Leo (LEO) was 1 USDT for 1 LEO and the total supply of 1,000,000,000 (1 billion) LEO tokens were sold.

Why Did iFinex Launch an Exchange Utility Token?
Cryptocurrency exchanges issue their own exchange tokens for a variety of reasons; to attract more users, to benefit existing users, and to generate more profits. iFinex is no different.

However, the primary reason they issued the LEO token when they did is because in 2018, Bitfinex’s payment processor, Crypto Capital, was subject to a partial government seizure equating to $850 million of Bitfinex’s funds. Bitfinex is actively working to expedite the return of these funds but there is no certainty they will be able to recover them.

Therefore, to alleviate this cash shortfall, iFinex conducted a private offering of $1 billion for its Unus Sed Leo token.

If Bitfinex is successful in recovering the $850 million funds from Crypto Capital, they stated that an amount equal to 95% of the recovered funds will be used to repurchase outstanding tokens and then burn them. As well, Bitfinex will also use 80% of recovered funds from a 2016 hack to repurchase and burn Unus Sed Leo tokens.

The repurchasing and burning of LEO tokens from recovered funds will reduce the token’s total supply and drive the price up through time.”

*Source of this info: https://www.publish0x.com/unus-sed-leo/everything-you-need-know-about-ifinexs-unus-sed-leo-leo-cryp-xlydqj