Precious Update and Token Buyback

It has now been a couple of weeks since the Virtual Private Server that ran the custom services for Precious was decommissioned and since then the SGS Members Curation Tasks have been performed by Hive Vote. Some may not have noticed any real difference because it's been a fairly smooth transition but the voting rules are basically 1 maximum of vote per day and 7 per week with no tag restrictions or delegation tiering. Since we stopped paying leases our Hive Power has dropped to about 80K so with the Hive price around 4.8 cents today a 100% vote from Precious is now worth about 18 US Cents and with any luck it will stabilize around that level for the medium term.

The final Powerdown on the @ssg-community account was initiated at the start of the month and that has enabled the outstanding VPS expenses to be paid. Now the Hive being powered down is being used to bolster a buy wall for the PRECIOUS token at 0.20 HIVE each on Hive Engine. This will continue for another couple of months until the powerdown is completed.

Once the powerdown has completed and remaining assets of the community account can be liquidated then the PRECIOUS Token Buyback can be executed. For any members who need to get rid of their PRECIOUS Tokens in the short term they can sell into the Buy Wall, but if you can wait until the Token Buyback then it's most likely you will get a better price once all the assets are in liquid form and we know exactly how much is there.

The reason why there is some uncertainty over the final asset values is because the @ssg-community account does own some Splinterlands assets. I will most likely conduct an auction for those assets in early September before the powerdown completes. We will have a better idea then about what the final Token Buyback price will be.