Gimme That XH5
- Real Value: 0.0178757 XLM
- Melt Value: 0.0357513 XLM
- Total Supply: 548,691 XH5
- Account Balance: 19,616.4403790 XLM
Two things have happened since the last Monthly Report. The Airdrop was completed and 12,000 XLM was donated to the XH5 account, which boosted the Melt Value from 0.0207537 XLM to 0.0357513 XLM.
We are out of the Development Phase and moving into the Growth Phase.
On July 23rd, 2020, 58 wallets received the airdrop of 577.96 XH5. One airdrop came back due to an improper memo. Most likely an exchange wallet. And while I do not think that airdrop belongs to an individual, it can be claimed by messaging me on Twitter or Instagram with the proper memo. I will not send the XH5 airdrop to another address and this offer expires August 31st. At which point the airdrop remains with the XH5 account.
As I mentioned, 12,000 XLM was donated during the previous month. It is the combined monthly donations of 1,000 XLM for the entire next year, made upfront so that it could be used to fund the Buyback Program. Since the buyback program began on August 1st the XH5 account has purchased 17,200 XH5 for a total of 2,960 XLM that went directly to token holders who received the airdrop and decided to sell.
It is important to remember that holding XH5 in the XH5 account does not count towards its value, since it will be burned if the account is liquidated. That means the more lumens that are depleted from the buyback budget the lower the Melt Value of the account. And while the Real Value is based on the Melt Value, once it has been set it will never be lowered. My hope is that I can sustain donations over and above the drain on the Melt Value of the account created by the Buyback Program.
What is the Buyback Program?
The Buyback Program uses the 12,000 XLM donation to make daily purchases of XH5 from the lowest sell orders on the market. This will be continued until the Buyback budget is depleted. Future donations, which cannot be guaranteed, will go toward supporting the Melt Value or increasing the Buyback budget based on my own personal preference. But those things will be noted in future Monthly Reports.
A slightly updated Grey Paper has been released as well as the new Trail Guide, aka Road Map, that covers future developments. I hope all of you stick around for the next several years to see what I have planned for the XH5 token.
Life is Your Adventure, Live Your Dreams,