A Look at the PHOTO Token and a PHOTO Burn

The @buynburn account uses its precious HP rewards to buy and burn HE tokens.

I joined Steemit 8 years ago with hopes that I would earn enough dinero to buy a midrange video camera so that I could do some vlogging. My Nikon D90 can take video, but the video is so shaky that the videos are unwatchable.

I was really happy when the PHOTO token first appeared on SteemEngine and bought 100,000 PHOTO to curate the best photography on SteemIt.

Well, Steem-Engine went the way of the Steam Engine and my investment in PHOTO went bust.

I was really happy when PHOTO appeared on HIVE-Engine. I've accumulated over 150,000 PHOTO. I use the account @vagabondspirit as a dedicated photo curator. It has 109,883 PHOTO. It is in position 17 in the PHOTO richlist. My primary account @yintercept is in position 34 on the richlist.

HIVE-Engine delivers the token in 100% staked form. This means the token builds up in HEaccounts that are are not actively attended. Since a large number of HIVE authors include photos in their posts, the token has one of the most equitable distributions on the platform.

The richlist shows a sweet distribution of coins. Only a few accounts are actively unstaking their coins. There is not a great deal of float on the market. The unstake formula is "91 days in 13 transaction(s)"

NOTE: I want to earn an income for my curation efforts. I decided to unstake 88 PHOTO a week. PHOTO currently trades at 0.00082 HIVE; So my income is 0.072 HIVE a week or $0.0036 dollars a week.

I think PHOTO is a seriously underfunded token.

HE shows that the PHOTO supply is 25,063,934 which trade at $0.00003 setting the market capitalization at $751.

The entire PHOTO supply on HE is worth less than the midrange camera that I was looking to buy! Even if I had all the PHOTO I couldn't buy a camera.

But I digress. Since PHOTO has an equitable distribution and is autostaked. I think it is currently undervalued.

Equity Pools

PHOTO has three equity pools:

PHOTO:SWAP.HIVE holds $21.32 liquidity (222 SWAP.HIVE and 258,830 PHOTO). It reports $10.27 (106.304 SWAP.HIVE / 125,318.31 PHOTO) volume each week. It paid $0.01277 in fees last week.

PHOTO:MEME hold $43.665 liquidity (591,329 PHOTO and 1,380,055 MEME). It saw $6.365 volume last week (85,678.56 PHOTO and 202,604.406 MEME). It paid $0.00763 in fees. The pool has liquidity rewards.

PHOTO:CCC has $51.41 liquidity (587,509 CCC and 632,532 PHOTO). The pools saw just $6.43 in transactions last week (72,971 CCC and 79,647 PHOTO). The pool had extremely generation LP rewards. When the LP rewards ran out, investors pulled large quantities of funds from the pool and crashed the value of both CCC and PHOTO.

LP rewards enhance the value of coins when they are active but crash the value of coins when they expire.

Anyway, there is a total of 1,224,082 PHOTO stuck in liquidity pools. This figure doesn't seem to show up on the richlist. The status of the liquidity pools is one of the great mysteries of #hive-engine. I have 11,987 PHOTO invested in these pools and have pulled $0.03 in fees plus the LP rewards.

The Photo For This Post

I wanted a picture of a camera being burned for this post. The Photography Tribe is not all that keen on AI generate images. So, I took a photograph of my phone. I uploaded that photo to Night Cafe. I asked NC to generate an image of a hand lighting a match and a second image of a camera engulfed in an inferno.

I remember buying the camera on sale shortly after its release in 2008 because there was a scratch on the photo element on my D60. The camera can take video but it does not have image stabilization. The camera is 18 years old. I could use a camera with image stabilization but seem to lack the funds to buy one.

I will burn 1,200 PHOTO on publishing this post.