A Whole New Era
Hello Friends,
On November 3, Protocol 18 went live, adding Automated Market Maker (AMM) functionality to the Stellar network. And that has changed a lot of how XH5 functions. First and foremost, you might notice that there are no longer the usual stats regarding the Real and Melt Value of the XH5 token. Those will no longer be calculated. They were overly technical and somewhat confusing to newcomers.
I’d rather keep it simple.
Is this a bad thing?
Advance notice was given in the XH5 Telegram Group just in case anyone thought the removal of the buy order for the entire token supply was a bad idea. However the change was largely unnoticed by most people, and in no way altered the fact that the XH5 wallet is attempting to repurchase the entire outstanding XH5 token supply. In fact, freeing up all those lumens allowed for larger buy orders at higher prices.
A win for any token holder looking to sell XH5 in order to fund their new Stellar wallet.
The truth is, if you don’t trust me to maintain buy orders to repurchase the tokens that I give away for free then you shouldn’t hold the XH5 token. XH5 not only helps newcomers to familiarize themselves with their Stellar wallet, it also gives many the opportunity to fund their wallet by selling the XH5 that they have received for free.
You’ll also notice that there is no screenshot of the XH5 wallet balance.
Instead, in its place is the winner of the XH5 Monthly Reward. If you are unsure of what that is, I wrote a blog post on how the XH5 Monthly Reward Distribution works. A screenshot of the XH5 wallet balance is no longer accurate due to the fact that assets locked in liquidity pools do not show as being held by the wallet that owns them. This complicates the old method of calculating the Real and Melt Values and was partially responsible for their removal.
As I said, the Automated Market Maker (AMM) functionality was a significant upgrade to the Stellar network. There are now roughly 35,000 XH5 locked in liquidity pools with other assets on the network. (And that will increase significantly in the coming months) This frees up a substantial amount of time by eliminating the need for manually maintaining order books across a variety of pairs, which was made all the harder due to the fact that I maintain XH5 from a cheap cell phone while doing all trade calculations in my head in order to maintain liquidity.
Nothing high-tech or fancy here.
With that being said, another 5,000 XLM was donated to the XH5 account last month to repurchase the XH5 that I have been giving away. While future donations are never guaranteed, that was the last of the big donations for the foreseeable future. 69 AMM, 200 FRED, and 5 CAFE were also donated to help fund the account. On the flip side, 950 XH5 were given away last month alone, meaning that 36,511.68 XH5 have been given away for free in an attempt to promote Stellar adoption.
300 of those 950 XH5 were given away as Claimable Balances to make up for missing the last two months of Monthly Rewards, and another person was brought onto the Stellar network when the XH5 Distribution wallet funded their Lobstr wallet.
Despite the changes, at its heart, XH5 remains the same.
I very much look forward to the future of Stellar and XH5 will continue to promote its adoption.
Life is your Adventure, Live Your Dream