Three Years Old!
I can hardly believe that it has been three years since XH5 was created!
I was incredibly excited by the fact that XH5 had surpassed 1 million trades prior to its third anniversary. Unfortunately, the number of trades I had been tracking for months was soon altered on Stellar.Expert. It wasn’t anything personal, Stellar.Expert simply made several changes, not only in the way trades are counted, they added IPFS storage for token logos, the ability to read a token’s toml without leaving the asset page, and sadly, removed the numbers that rank asset holders.
That was when the total trades for XH5 dropped to a quarter of what was previously reported. But numbers are just numbers, and it is embarrassing how much of a letdown it was not to have reached a goal I had been looking forward to for some time.
To celebrate the third anniversary of XH5 the Shave account will be converted into the Shave Vault on October 6th.
What this means is that the Shave account, which was tasked with repurchasing outstanding XH5 tokens, will be locked and no longer be accessible to anyone, including me. This also means that whatever liquidity is held in liquidity pool shares will be permanently available to buy outstanding XH5 tokens at the market price for as long as the Stellar network exists.
Not only will the thousands of dollars worth of XLM and other tokens that I have personally donated over the years be locked beyond the reach of any individual, but some tokens will have to be removed from the account prior to locking, and the orders currently posted by the Shave account will all be canceled.
All of this will be added to liquidity pools in order to autonomously support the value of XH5 on the Stellar DEX.
As I mentioned in XH5 Monthly Report 031, XH5 does not need to be managed or maintained. The Shave account no longer needs to be in my hands.
I will still trade XH5 in my personal account because my reputation is on the line. There are also over 13,000 XH5 in the XH5 Distribution wallet that have to be given away. The Monthly Rewards will continue being issued from that account until we reach the Distribution Phase in July 2023, at which point the rewards will grow significantly until that account is depleted.
There are thousands of people actively developing on Stellar and in some small way I hope that the permanently locked liquidity provided by XH5 contributes to their success.
All tokens paired against XH5 and locked in the Shave Vault will have permanent liquidity, a huge risk for the XH5 token in that these positions cannot be pivoted away from nor changed in any way should that token project fail or decide to do a rug pull. These locked liquidity pools will buy every last token with the XH5 available should they be dumped on the market.
The upside of that is those tokens will always be guaranteed a market, more so as long as at least one other person provides liquidity. Maybe some of the early tokens floating around the Stellar DEX will someday become collectibles. Maybe those with a guaranteed market will be more highly valued than others… like those locked in the Shave Vault.
The future is uncertain.
What I do know is that I will be developing XH5 for the rest of my life, however long that may be, and I very much look forward to seeing how this experiment plays out.
Life is your Adventure, Live Your Dream