Hello readers,
It's been only some days since I came across and interacted with the project Holozing, the most shouted upcoming #web3 gaming project on hive blockchain and about its main token $Zing that will be the backbone of its economy. Now I really liked the project because of many factors that I talked about in my last HoloZing post and if you know about this project for the first time, I think this post may help you a little. However, as I read the project whitepaper and was impressed by the whole project idea I didn't miss the right time.
During the pre-alpha period of this project which just ended recently, the token distribution has also started and unlike most of the other projects where tokens are generally distributed randomly or as giveaways or airdrops among participants and resulted in facing heavy dump from those who were here for only the free money, this token is only being out in exchange of a value it asks, thus eliminating bots or gold diggers. Even the official team ownt take any token from the project nor the project will have any secret sale or private investors taking out large chunks. That's why I really got interested after th etoken and decided to start accumulating them for last 4 days. But before I talk about my investment, let's know what is Zing and it's tokenomics in short.
Zing is the in-game curency of the upcoming game Holozing which is still in very early stage and about to go live next year end probably. It will be a futuristic game where players have to catch and train wild animals and battle with each other. By playing this game, players can generate income where they will be rewarded with zing tokens which will have a monetary value.
As per it's tokenomics, zing token has a total circulating supply of 6 million with 5 million currently in staked form. THe current price of Zing in Hive-Engine is 0.013 USD with a calculated current market cap of 78.54k USD.
Now, there are 4 main ways by which we can earn Zing tokens. We can either buy and stake Zing tokens, Delegate our Hive power to earn zing, invest in zing:swap.hive liquidity pool or hold POSH tokens. There are quite a few people who are being active and aggressive on this token alreay and trying their best to accumulate as many as they can while the low price lasts. However, for me I am not having any liquid fund for investment so I chose at first to buy some POSH tokens and keep them in my account to start receiving Zing tokens.
So as i thought, I managed some money by selling some of my other assets and bought 100 POSH tokens and soon after, the rewards under my name started getting produced. As you can see from the ss above, the POSH stated giving me fractions of zings but as zing reward tokens come as staked, I just kept it in auto pilot and soon some hours after, I had made almost 15 Zing tokens as you can see from above.
However, soon I felt that buying POSH off market would also require liquid money which I don't possess at the moment, but I also wanted to gather zing tokens faster, so I decided to engage with the HP delegation program and delegated 3000 HP via the official website. By the time I staked my HP, it was giving 190.17% APR which seems an amazing rate to me.
Anyways, my decision to start delegating HP suddenly seems as a proud one, because within some time after I staked my HP, the zing rewards increased almost 20X! I started getting around 8.7 zing from HP delegation alone whereas my POSH holdings were only giving me 0.294 zing and happily, I started generating little fragments of zings as from zing staked rewards as well. Right now as of writing this, I have a total of 540.90 Zing staked in my account and increasing. At this rate I wont touch it until it makes a stake of 10k Zing at least, The current price of my whole staked Zing is showing 8.4$ already, so imagine if this project becomes a hit, where its price will reach? However, please keep this in mind that this is not a financial advice and please do your own research before investing anywhere.
