$MEM Progress Update.
Seems not too long ago I was writing the node looping model in the early stages of Magic Ethereum Money. Two weeks have passed and I’m happy to say the strategy is working as intended.
As mentioned in our previous article, $MEM created a node looping strategy in order to combat the recurring problem that most reflection-based and node projects run into: volume. Volume is the core of these types of projects, and if volume begins to dissipate, so does the treasury, and so does the sustainability and longevity of the project itself. With the node looping strategy that the MEM team created, we’re able to slowly ween off of this volume-reliant model into a more sustainable model which will assist in keeping the treasury growing without the need for tax-derived volume. While this model seemed good in theory in the previous article, I’m delighted to say it’s working even better in practice.
We began with initial investments in a Tier II node project: $THOR. From there, with our remaining treasury, we bought projects in two Tier III node projects: $POWER and $SIN.
I will take a moment to say that after these purchases, there has been no more money introduced in the model… yet, our daily ROI % yield has been slowly ticking upwards, and daily $ rewards has been also, due to the nature of this model.
Anyways, back to the investments. The initial investments can be broken down as such:
24 $THOR ODIN nodes purchased for an aggregate sum of about ~$82,368.00. These nodes are yielding about $1,077.12 daily for the $MEM treasury, and are the sole Tier II node currently held.
24 $POWER Superhuman nodes purchased for an aggregate sum of about $11,000. These nodes are yielding about $181.72 daily for the $MEM treasury, and are one of the two Tier III nodes currently held.
4 $SIN Demon nodes purchased for an aggregate sum of about $31,860.00. These nodes are yielding about $1,404.00 daily for the $MEM treasury, and are the second Tier III nodes currently held.
With solely the initial investments made, the $MEM treasury was making about $2,662.84 daily in rewards.
While utilizing our node looping strategy which consists of trickling rewards down from more secure investments into higher risk, higher reward projects, we rolled rewards from $THOR (Tier II) into purchasing:
1 $FIRE Fire Nest for the amount of $6,500.00, which yields about $134.78 daily for the $MEM treasury, putting our daily yield in dollar-denominated terms of ~$2,800.00.
From there, we rolled returns from our Tier III investments ($FIRE and $POWER) to make our first Tier IV purchases. Per our last article, tier IV investments are high risk, high return plays that are paid for with the passive income of our safer plays (i.e. looping).
These Tier IV purchases included, and were paid for by yields from previous tiers without any extra investment:
Being one of the first minters of a new Avalanche-based P2E game, Avalant, wherein we purchased 10 Ant NFT’s at mint for 1.2 AVAX each, for an aggregate sum of 12 AVAX. Since then, the floor has raised to about 3 AVAX for each. However, these ants will be used to further farm, giving us an extra daily yield of about $215.00 (which will go up continuously as we play through the game properly and create unique strategies to maximize profits in this regard). Summary: nearly 3x on the mints themselves, while also gaining daily yield for the treasury.
We also invested heavily into a new and unique Avalanche-based node project, $ARMY, where we purchased 2 GLADIATOR NFT’s for a mint price of 2.5 AVAX, and bought 2 more at a price of about 8 AVAX. The floor on these NFTs are now about 15 AVAX, and are also yielding an additional $150–200 daily for the $MEM treasury (which will also go up continuously as the project continues to develop).
In summary, with our looping strategy, we increased our daily yield from $2,662.84 to ~$3,200.00 without any extra investment besides the initial investment put in.
The model is working as intended, and will get much better with time as we expand upon this strategy to include more and more projects, while also bolstering and strengthening the pillars of our model (Tier I and Tier II projects). This will allow us to migrate away from a volume-reliant strategy to one much more sustainable and effective for the long-term vision we have for Magic Ethereum Money.
In other news, we are now in talks with a centralized exchange which will allow us to expand our network and holder base; we have also hired a well-known influencer to put on retainer for the project who assisted in taking $GM to a $200mm+ project. We are also in the process of creating our own $MEM nodes, which will have a very unique double-gain value proposition which will not only be the most rewarding project in the space for holders, but also the most sustainable. Finally, we are continuing on the backend with creation of our own decentralized exchange which will further benefit the holders of $MEM.
Be sure to be on the lookout for our next article!
~ Magic Ethereum Money.
