In the past weeks, the market maker has bought a lot of CTPSB tokens from the market and it's a bit tight on liquidity. To remedy that, we will start a power down process. The main account will power down 300 Hive power in the next week. At the same time it will buy the corresponding amount of CTPSB tokens from the market maker. After one week of power down, the bought CTPSB tokens will be sent to null. This means that there will be less tokens in circulation but also less hive power backing the token. The result will be that the token value remains unchanged by the process but it will be a welcome liquidity for the market maker.
After one week, we will see if the market maker requires more liquidity and if necessary continue the power down for one or more weeks. We will stop the process once the market maker has reached sufficent levels of liqudity again.
For token holders this has absolutely no direct effect on their holdings because it is neutral for the token value. On the contrary with less tokens in circulation, the burning effect will have a stronger inpact on token value.
Here the numbers of this week
| Assets | Amount | Increase over last week |
|---|---|---|
| Hive Power | 36529 | +84 |
| Tokens in circulation | 9197 | -2 |
| Burnt tokens | 2301 | +2 |
| Token value | 3.972 | +0.01 |
| APR | 13.2% | 0.0% |
Learn more about the CTP Swarm Booster: