The dashboard of the Phi token gives a good status review of the Phi token Ecosystem
Phi Token is the loyalty token of the Promille project. If you are holding Pi-token (Pi is a TRC 10 token on the TRON Blockchain, providing a weekly dividend of 0,314% to it’s holders), you will be eligible to receive Phi loyalty tokens during the monthly airdrop over a period of 18 Months.
The first Phi token drop happened on August 2nd and the next will happen on September 2nd. The purpose of Phi is to reward early adopters of Pi-token by airdropping them this loyalty token, which will benefit from the growth of the Pi-token ecosystem.
So how does it work?
Every months 30% of the value growth (in $TRX) of the Pi reserve wallet is used to fund the loyalty token. This amount of TRX is used to mint new Phi tokens and the TRX is moved to the Phi reward wallet to invest in reward generating tokens. The value of 1 minted Phi at the first airdrop was 1 TRX. In total 4760 Phi tokens were minted and proportionally distributed over holders of Pi tokens and 4760 TRX was moved to the rewards wallet. During the second airdrop the value of 1 minted Phi will be 1.025 TRX. This means more TRX per minted Phi will be send to the Phi rewards wallet. With every airdrop the value of minted Phi will increase with 0.025 TRX.
From the rewards received in the rewards wallet, 50% is paid out weekly as dividend to Phi token holders and 50% is reinvested in reward generating tokens.
This means we have two processes increasing the value of Phi by increasing the value of the rewards wallet: 1. Increasing value of minted Phi 2. Reinvesting 50% of the rewards into the rewards wallet.
With this we want to achieve an ever increasing value of Phi, with an ever increasing amount of weekly dividend paid to Phi holders.
The Dashboard consist of a lot of info.
The PHI Eco system shows what are the main pillars of Phi: – Funded by reserve wallet growth – Funded by 50% rewards reinvestment into the Phi – It is paying weekly dividends to its holders
The Phi wallet of reward tokens shows the total amount of value in the rewards wallet (4,802 TRX as per Aug 12) and in which reward generating tokens or activities these 4,802 are used and in which proportion
General data of PHI Eco system shows the following key numbers: – 4,760 Phi in circulation – 22.49 $TRX paid in weekly dividends – 1.009 Current value of 1 Phi (value of rewards wallet / Phi in circulation)
The block charts show the following info – The amount of Phi airdropped per month (4,760 in August) – The value of Phi and how it progresses on a weekly base – The total of dividends paid out – The weekly dividend paid per 1k Phi, which will show an increasing trend over time
The expectation for the next drop section is there for expectation management. It shows 4 circles which indicate the worst case situation for the next monthly drop of Phi. This will always improve as the month progresses. – 2,248 $TRX this is 30% of the reserve wallet growth to date since the last drop, so this is the minimum amount of fresh $TRX to be injected into the Phi Eco system, but this will grow over time. – 1.025 $TRX is the value of the one Phi minted for the next airdrop – 2,369 $Phi is the minimum amount of Phi that will be dropped during the next monthly drop based on the amount of TRX (2,248) and the value of Phi (1.025) as the amount of TRX allocated for the drop will grow, also the amount of Phi to be dropped will grow. – 685 $Pi is showing the minimum amount of Pi you need to hold to receive a Phi token. As the amount of Phi to be dropped will grow, the amount of Pi to be held will decrease as the month progresses.
Purpose of PHI
The purpose of Phi token is to award early holders of Pi token with a token which has an appreciating nature based on the success of the Pi token Eco system.
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.
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..
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.
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.
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.
Continuously growing cumulative rewards have been increasing steadily and will surpass 25 Million TRX in the second half of May.
In light of transparency the income distribution of the Pi-token is openly shared.
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.
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”.
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:
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:
The Pi-token is funded by holding reward generating tokens and these rewards are then used in the following way:
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.
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.