Purge & Merge
Hello Friends,
You may have recently noticed the lack of buy orders for XH5 in the order books. If not, have a look at the market for XH5 on Stellarport.
This isn’t because I stopped purchasing XH5, and it certainly isn’t because of the large amounts of the token that have been repurchased in the last month alone. Almost 10,000 XH5 by my rough estimate.
The reason that there is no obvious buy-side support in the order books is that all of the liquidity has been locked in the Automated Market Maker. All future donations of XLM will be immediately added to the XH5/XLM liquidity pool. Keep in mind that future donations are not guaranteed, of course.
Liquidity pools have also been created for a variety of tokens paired with XH5. These are token projects that I would like to support as I feel that they add value to the Stellar ecosystem. However, liquidity pools for any token are not an endorsement of that project. This in no way represents financial advice or even a hint of a suggestion that you should do the same.
Going forward, the XH5/XLM Liquidity Pool will be the focus of development. Towards this end, any tokens that were not included in the liquidity pools were swapped for XH5 and their trustlines were removed. This should in no way reflect negatively on those projects. Many were removed for no other reason than that the account held too little and thus did not justify creating a pool.
Many of you are aware of the AQUA rewards snapshot taken Jan. 15, 2022, @ ledger #39185028, which determined eligibility for Airdrop #2. The Shave account, which is the account that is responsible for repurchasing the total supply of XH5, is estimated to receive 1,832.77 AQUA per month, for a total of 65,979 AQUA over the next three years. And while that isn’t much, all of that AQUA will be swapped for XH5.
At this point the majority of XH5 is automated. 1,000 XLM were donated to the Shave account last month, and besides the Monthly Reward, another 100 XH5 was donated to a friend. These are very small steps in promoting Stellar adoption and helping people to familiarize themselves with their new Stellar wallet. But as of right now, there isn’t much else to report.
Life is your Adventure, Live Your Dream