CITYUPTAKE Q1 Insights
July 2018 marked the beginning of CITYUPTAKE’s journey, and now this scrappy start-up is one of the most mature projects on the Tron Network. With a token ID of 100080, it is one of the first 100 tokens created, and ANTE aside, there are few projects out there that have created value as CITYUPTAKE has.
This small team led by Jason Lavender has built a community around a simple premise and the first quarter of 2019 has seen some notable achievements.
23,605,011 TRX — SR Portfolio Votes
The year began with CITYUPTAKE members entrusting 12,154,236 TRX to the SR Portfolio that analyzes the reward structures of the top 27 Super Representative to determine how to maximize voting rewards. As the value created became more clear, this portfolio grew to over 23 million TRX. That is an increase of over 94% in the first quarter. The consistent and outstanding rewards can help explain this growth.
The average weekly reward for holding 100K CITYUPTAKE was 1,346 TRX. That includes both the Trade Desk and daily SR rewards. This translates to a weekly ROI of over 1% on the 135K TRX needed to acquire the 100K CITYUPTAKE. If one annualizes that number using the standard formula that assumes compounding, the result is a staggering 66%. A more conservative approach that just uses total yearly rewards still projects an ROI of 26%.
This residual easily outperforms any SR rewards over the same time period. The members of CITYUPTAKE are involved in many Tron projects, and few projects have the combination of a guaranteed 1:1 exchange and access to the loyalty rewards offered by the trade desk.
The fee one pays upon purchase for access to these rewards are added to the Trade Desk and prevents dilution as new members join the community. Even as the supply in circulation roughly doubled, the rewards remained remarkably consistent. Given the “break-even” of ~26 weeks, this project is for believers in TRON who plan to hold for at least the next few months. However, that break-even assumes a 1:1 exchange when, in fact, anyone who wanted to exchange their CITYUPTAKE in the last quarter has sold theirs for between 1.2–1.3 TRX. This reality potentially reduces the time it takes to “break-even”.
Those loyalty rewards provided by the Trade Desk help explain our outstanding retention rates. While we do offer a 1:1 exchange, very few people have actually used it. In fact, when the few members who have had to part with their CITYUPTAKE sell, they usually get close to the official price. Of the over 23 million CITYUPTAKE in circulation, less than 400K has been re-sold or exchanged.
The numbers on our holders also tell a great story. The median stake for our member wallets is 52,750, the average stake is 247,228, and our top ten wallets are at or above 1 million CITYUPTAKE. This indicates that we have earned the trust and respect of a significant number of people. With the ever-present threat of an exit scam, it is hard to win the trust of the community. CITYUPTAKE has done this through transparency, engagement, and legal filings that will provide holder protections.
Looking Forward
The second quarter of 2019 promises to be just as exciting as Projects Atlas and Cold Fusion offer the potential to provide additional sources of funding for the trade desk. Details are forthcoming so stay tuned.
Dedicated Client Exchanges will make its debut providing our member with easy access to increase their stake positions at will.
Client services will be a focus as well as we integrate a Mongo database into the website allowing members to more closely track and analyze their ROI. In addition, we now provide a customer support system to better meet the needs of our clients.
Building a great community, sharing great rewards, and providing great client services, CITYUPTAKE is proud of the progress thus far.
If you would like more information on what CITYUPTAKE can do for you, please visit our website or join us in Telegram. We invite all questions and look forward to building on the successes thus far.
Website: https://cityuptake.com
Telegram: https://t.me/CITYUPTAKE
Twitter: https://twitter.com/CityUptake?lang=en
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