Closing the Budget Deficit for Precious

The liquid funds raised from the last SGS Monster Raffle held in July 2024 have now almost run out so this week I pulled back some of the Leased Hive Power for our Community Curation Project. This was to try and ensure that the Weekly Budget Deficit for the project is (almost) closed and in doing so I’ve ensured that the project can run more sustainably for the next few months.

The current Hive Power that Precious votes with is now around 380K, which is still a very substantial amount and it remains higher than it was before July 2024 primarily due to the extra Curation Rewards that were earned from our elevated levels recently.

The current Powerdown is yielding 733.642 Liquid Hive per week and after dropping back our leased Hive Power our weekly spend on leases is now down to 743.1 Hive per week. That means our weekly budget deficit is under 10 Hive. We still have about 150 HIVE worth of liquid funds remaining in the SWAP.HIVE:SPS Liquidity Pool so this financial situation is very sustainable for the duration of the current Powerdown and that should see us through into May 2025.

Hive itself is still proving to be extremely volatile at the moment with several Pumps and Dumps occurring over the last month or so. It can be difficult to know what’s going to happen next. Of course I’d love to see a steady Bull Market resuming that we could have some confidence in, but that’s not really how Hive behaves. Even if the price action settled down a little and was stable then it would give us some confidence that a new fundraiser would be worthwhile. Our Monster Raffle process typically goes for about a month and that seems like a very long time in this volatile climate.

For our veteran authors at SGS none of this recent volatility is really new. Most of us have been through this crazy cycle at least once before so we have some experience rolling through the turbulence. This is probably a good time to once again thank everyone at SGS for sticking it out and keeping that great Precious Metals content coming to help share and spread the good word.