Note: I just published another post with results of the presidential election and details on tomorrow’s (Friday, August 10th) live stream. Hello empowr citizens, Last week we announced that we would be setting the coin free to experiment and see how it would perform on the open market. As some of you may have noticed, the result of that experiment thus far has caused the price to rise from around $2 to around $3.00 - $8.00. While it’s great to see that there is a fair amount of upward pricing pressure on the coin (it’s risen nearly 300% since last week) we’ve become concerned that by setting the coin free we have opened up the issue of price volatility – an issue that we had hoped to avoid so that everyone could focus on their work in building the empowr economy as opposed to the price of the coin. What is the cause of the volatility? The coin price volatility is caused by low trading volume on the exchange. Many (most!) empowr citizens seem to be quite set on holding their coins as opposed to trading them. It’s really great to see everyone believing so much in the empowr community, economy and coin! This desire to keep coins (as opposed to trade them) is something all coins strive for, but most fail at. Having said that, this "love for our coins" is resulting in low trading volume on the exchange, and that's something we should all focus on improving.
Increasing the trading volume will help resolve this issue where just a handful of individuals can fluctuate the price of the coin by buying or selling just a few coins. How can the empowr community improve the trading volume? In this post, let’s discuss some items to help improve the trading volume:
A. Rewarding Daily Goal Hitters B. Rewarding Mission Performance Goal Hitters C. New features to help increase the coin supply
A. Rewarding Daily Goal Hitters In order to reduce volatility on the exchange by increasing our trading volume, I am asking everyone to go to the exchange and start trading some empowr coins. To help everyone do that, we will be sending you some coins now, as follows: 1) In the next 48 hours, every empowr citizen that has hit 1 or more Daily Goals since the start of August will have up to 20 empowr coins accelerated from their coin balances and sent directly to their Ether wallet based on how many goals they have hit. How many coins will you receive? 1 coin for each Daily Goal you hit in the first 10 days in August. · For example, if you hit 1 Daily Goal in August, you’ll receive 1 coin. · If you hit 5 Daily Goals so far, you’ll receive 5 coins. · And if you hit 10 Daily Goals in the first 10 days of August, you’ll receive 10 coins. Then, we'll double the above number of coins for Mission Founders (with applicable increases for the other mission roles). Note: If you don’t have an Ether wallet, it literally takes less than 10 seconds to get one. Learn how to get one here, and make sure to add it to your account settings so that we know where to send your coins. 2) We ask everyone to go to the exchange and begin trading with your coins– buying and selling as much as possible to help increase the coin's trading volume and help the price of the coin eventually stabilize. Note: In order to trade on the exchange, you’ll need to (1) have a little bit of Ether in your wallet to pay for gas costs and (2) learn how to make instant and limit orders on the exchange. By increasing the volume on the exchange, not only will it help stabilize the coin price, but it will also help us get the coin onto more (higher volume) exchanges which will further help to increase the coin's trading volume and stability. 3) Next week, and possibly the weeks after that, we’ll do it again – we’ll send you more coins -- but we’ll only send coins to the Daily Goal hitter citizens that have gone ahead and transacted on the exchange. Why does this make sense? Since the objective of this process is to significantly increase the trading volume on the exchange, going forward we will only keep sending these coins (from this process) to the citizens that ended up trading on the exchange. On the exchange, be sure to use the wallet address that’s in your empowr settings, so we can correctly track the transactions to you and ensure you receive more coins next week. The more you trade, the more coins we’ll send you next week. Summary If you hit one or more Daily Goals in August, tomorrow we’ll send you some coins. We ask that you go trade (buy and sell) coins in the exchange to increase the coin’s trading volume. If you do that, we’ll keep sending you more coins. We’ll send the most coins to the citizens that are hitting the most Daily Goals and trading the most. Be sure to have some Ether in your wallet to pay for gas costs. (Gas costs are the small fees that the Ethereum networks charge for making transactions). A quick word to the wise
Think about this: If everyone is trying to sell the coins we send them (in order to do as we are asking -- which is to trade coins) and a smaller number of people are trying to buy coins, this event may (should?) cause the price of the coin to temporarily fall quite a bit. If that happens, obviously there will be some people that will understand the opportunity and will buy up much of the coins at the discounted price created by this one-time event. Why shouldn't that (the lucky people buying up coins cheap) be YOU?!? To ensure you're ready and able to do that if the right opportunities present themselves, if I were you I would think ahead NOW and have more Ether in your wallet (enough to buy coins) if you see the coin price dropping low enough where you'll want to buy up as much as possible.
To give everyone a chance to prepare themselves, we will hold off distributing coins until the end of the live stream tomorrow morning (specifically, 4pm UTC), so everyone has a fair chance to get more ETH, ensure their Ether wallet address is in their empowr account settings, and maybe even hit another daily goal.
B. Rewarding Mission Performance Goal Hitters Since the month of May, we've been rewarding the empowr citizens that have hit their monthly Mission Performance Goals for 1 or more months in a row by accelerating the coins in their empowr balance to their Ether wallet. I’m happy to say that for the month that just ended (July) we’ve had more goal hitters than ever before – each month the number of goal hitters has grown by over 50% over the month before - and the month of August is already shaping up to be another amazing month with even faster (record) growth than prior months. For those of you that hit your mission performance goal in July, your coins were sent to your Ether wallets within the past 24 hours. Congratulations to all of you! Additionally, we increased your coins by up to 100% if you had one of the following Mission Roles: 10% more for Mission Supporters
20% more for Mission Ambassadors
30% more for Mission Visionaries
50% more for Mission Pioneers
100% more for Mission Founders As many of you can hopefully see by now, hitting your Mission Performance Goal is one of the best ways to earn and accelerate coins on empowr, because you earn a lot more coin on the Mission Wheel every day and you have a growing (doubling each month) number of those coins accelerated when you hit your Monthly Performance Goal. As the months go by, we hope to further increase how much you are paid each month when you hit your Mission Performance Goal. If you don’t know how the monthly performance goals work, you can get a quick refresher here. Again, you’ve now received your coins. Please go to the exchange and buy and sell some coins! 3. New features on the way In addition to rewarding the citizens who are hitting their Mission Performance Goals each month, as recently reported the empowr engineering team is working to deliver several features to you: Those features are expected to be live by next week, and include: - Enabling transfer out of coins regardless of how they are earned
- Make it easier to hit your Daily Goals
You’ll be able to personalize, from 1% to 100%, how difficult your Daily Goals will be for the day - No more Sorry’s slots on the Mission Wheel (now live)
- Increased earnings for Marketplace Excellence
- Much faster coin maturation by Mission Role (now live)
Mission Founders now enjoy 30 day maturation More details on each feature will be coming soon, but in the meantime if you are not currently a Mission Founder, you should consider upgrading as Mission Founders will have first and possibly exclusive access to each of these features to reward them for their contributions to the economy. Conclusion We’ve set the empowr coin free, however, due to many empowr citizens hugging their coins too tightly and not trading them, the coin is experiencing greater price volatility. Like all challenges the community has faced, if we all step up (and do some trading) we can and will overcome this challenge too. To enable everyone to trade coins (especially while we're waiting for the new transfer out feature to launch) we’re accelerating coins for ALL citizens that hit Daily Goals and look forward to doing it again next week for citizens that trade coins on the exchange.
In addition, Monthly Performance Goal hitters just received their coins, and we are working to deliver a lot more coins to you starting next week using new features such as more coins on the wheel, more coins for marketplace excellence, faster maturation of coins, and opening the transferring out capabilities. As all of those features are completed, and empowr citizens step up to trade more coins, our economy and coin will benefit significantly, leading to more success for all our citizens. Any ideas or concerns? Please include them in the comments below. Thank you for your support – with your help, we can continue to take our citizens, economy and coin to the next level. Your president, Brian (more) ►
| 
No comments:
Post a Comment