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CryptoHippos NFTCryptoHippos NFTby0xBbB589796d01EF05f24C49f57d53125d4382ab620xBbB5…ab62

Should we withdraw our funds from P79 to the community wallet or transition available funds to P79 token presale?

Voting ended about 3 years agoSucceeded

Project 79 delivered another great month at 6.4%, however, their model is changing. Our total value locked at this moment in time comes to $32,282.42 with an additional $2,066.08 available for withdrawal or to move into their new model bringing our total value to $34,348.50. This is a net profit of $9,348.50 from our original $25,000 sacrifice assuming all funds could be withdrawn.

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This vote is strictly for the $2,066.08 that is available to act on now.

I highly suggest everyone able to vote to do their own research on Project 79 before placing their vote, and not to just rely on the information here. You can join their discord here: (https://discord.gg/project79)

What is changing with Project 79?

Previously with project 79, we made deposits with USDT and sacrificed them for 6 months gaining interest on our sacrifice at the end of each month. We then had the option to withdraw the interest, or sacrifice it again. So far, 100% of our returns have been sacrificed again, each starting it's own 6 month lockup period.

Our understanding is that the model will no longer accept USDT sacrifices, but instead require purchasing a new P79 token. The P79 token will represent shares and ownership of the operation, and rewards are due to be paid out in another new token that will represent gold. The gold token should remain stable to the price of gold. This token will be able to be redeemed for physical gold or into stable coins. This new model will also mean P79 will be providing us with quarterly reports such a geological reports, financial reports, gold extracted, gold sold, money in, money out and more.

If we transition it should also be noted that "you will likely not receive earnings in February due to the operations being upgraded and set up, with the earnings on the token itself starting in March. ". However, if we opt to put the $2,066.08 into the presale, we will receive a 10% bonus in tokens.

Potential Foreseen Benefits
  • Transparency of the operation
  • Compounded returns
  • Potentially a cheaper entry to P79 token as institutional investors may wish to purchase, and may be happy with lower monthly returns therefore willing to pay more for the P79 token itself. There will be a limited supply.
Potential Foreseen Risks
  • P79 token doesn't hold value resulting in a significant or 100% loss
  • Gold pegged token depegs resulting in a significant or 100% loss
  • Never able to withdraw our original investment after transitioning due to project failure
  • If we withdraw 100% of our investment, we may never be able to get similar returns again from project 79 on the $2,066.08.

Off-Chain Vote

Withdraw
504.74 HIPPO58.9%
Transition
332.9 HIPPO38.8%
50% Withdraw 50% Transition
19.35 HIPPO2.3%
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Timeline

Jan 30, 2023Proposal created
Jan 31, 2023Proposal vote started
Feb 03, 2023Proposal vote ended
Oct 26, 2023Proposal updated