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:
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.
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.
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.
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)
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.
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.
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.
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.
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.
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.
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
The 13th month of the #111Months challenge has finished. 98 Months to go before early retirement. After some disappointing months in the Crypto world this was the first month showing some real recovery.
The proportion of loans on my total wealth has been decreasing steadily and is now dropped well below 40%, which means the nett. wealth is developing nicely.
The passive income is at a steady level and continuously increasing with increasing my stake in passive income generators like (in order of contribution):
- CITY ALPHA;
- Abbvie shares;
- Unicum shares;
- Altrea shares;
In February $COTI will be added to this list through staking as well.
The wealth building has recovered from two bad month in Crypto and is back on track, well ahead of the target created when the #111Months challenge started.
After setting up the CITYUPTAKE passive income stream in 2019. In 2020 I want to add:
- Cardano blockchain based passive income
- COTI blockchain based passive income
- Passive income through Pynk
For Cardano I joined the Shelley testnet and although majority of ADA is used to boost the CITYUPTAKE Trade Desk, still a portion is used to receive staking rewards. Waiting for projects like CITYUPTAKE to emerge for serious passive income.
COTIFor COTI, first staking pool participation has begun, now I am saving to have enough COTI to start my own active node.
For Pynk I finally accumulated enough community points to be converted into Pynk shares.
For that I had to predict and invest time for 5 months:
I made 148 predictions and 42 forecasts.
Anybody interested in exploring Pynk please use this link: link