At What Price BLURT & ZAPATA Will be Listed?steemCreated with Sketch.

in hive-159906 •  last month  (edited)

A couple of weeks back when I posted about the launch of Steem forks BLURT & ZAPATA, some of you have been asking me for its price.

Both the blockchains are only a couple of days away from their launch date of 4th of July.

BLURT logo.jpg

To recall, BLURT is a Steem fork which is offering 1:1 airdrop on all STEEM wallets as on 20th May, 2020 (pre HF-23) except Steemit Inc wallets.

You may ask, why BLURT and how is that different than Hive?

Well, Hive airdrop had excluded certain users of Steem other than STINC too ...the ones who supported Justin Sun's sockpuppet Witnesses with over 1000 SP stake. BLURT airdrop is going to include them all.
Secondly, there is a difference in block height for both airdrops. Hive airdrop snapshot occured on 20th March while BLURT's snapshot date was two months later to it.

Unlike BLURT, ZAPATA airdrop is not excluding any wallet. So each and every wallet of STEEM, as on 20th May, 2020, will get an equivalent airdrop for ZAPATA. (Please note that both BLURT & ZAPATA won't have any pegged stable coin. So all SBD balances will be converted to liquid BLURT or ZAPATA).

So now comes the important question of price discovery.

Every asset initially has a zero market value. The value is what its owner attaches it to. But that value is just a perceived value by its owner until he/ she gets a buyer who too thinks it has equal or more value than what its owner perceives it to be. So it's the actual buy & sell transactions that gives it a real value. Thus it's the actual market transactions that decide a true value for an asset.

When a small set of buyers or sellers agree on some value and completes the buy-sell transaction, that value though established is not widely accepted as its true value. But when a no. of people start buying & selling around that price range or some other price range as decided by them, it becomes acceptable in the market. That is called a price discovery phase. That's why liquidity & volume are key factors to see if any digital asset has got an established market value.

So far, not a single crypto Exchange that lists STEEM has announced any support for BLURT or ZAPATA airdrop. Since major Exchanges that have a high trade volume for STEEM or SBD, have accumulated a good amount of these coins through their Exchange fee; I'm sure they hold a good amount of STEEM at the time of BLURT / ZAPATA snapshot. So supporting the airdrop makes them entitled for these airdropped coins too. But if they ain't supporting it, then one of the reasons may be that they don't perceive these coins to be of any significant value.

During the incident of freezing of 64 wallets aggregating 24M STEEM in Steem HF-23, Binance CEO had categorically stated that if the community comes up with a new HF that honours property rights for all wallets; he will list that coin as well. So here comes $BLURT. Will the Binance keep its words?

If yes, BLURT may receive a good price. To me, good means about 50% of STEEM price. It may hold different meaning for different people.

But if it doesn't get listed on biggies like Binance, Bittrex or Huobi; but somehow is listed by exchanges like Probit, Gopax etc. then a price of about 5-6 cents should be considered a good start.
Do you remember, when HUNT was listed on Probit, it got to only about a couple cents? (And its total supply was only 100M with a small fraction of it as liquid at that time).

Well, whatever I talk about the price at this point will only fall into the category of speculations.

So lemme give you some market stats 😜

Do you know any pegged coin that got listed on any Exchange even before the launch of the coin?

It's BLURT.

BLURT pegged coin is listed on STEEM-Engine as BLURTP.
It is also listed on Hive-Engine as SWAP.BLURT.

As you will expect, there is no transaction in this market as there is no circulating supply yet.
However, 1 coin was issued on both these Exchanges probably to list it or as a trial.

I'd also like to quote here the one and only transaction that happened in these BLURT pegged coins. It was on Steem-Engine and it took place on 5th May, a week after it was listed there:

image.png

Yes it was for only 0.05 STEEMP per BLURTP. But at that time, BLURT was just an idea. Much development and work has gone into it since then.

So do you get an idea?

Now please don't ask me how that buyer can redeem his pegged coin into BLURT when it's not even launched 😉

  • So what opening prices are you expecting for BLURT & ZAPATA?
  • Will you buy any or sell yours?
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I'm very interested in these projects but without exchange listings.. Not sure they will go anywhere.

There are many Exchanges these days. So some Exchanges will list them for sure. The only question in my mind is whether any major Exchange would list them?
Let's hope for the best.

Dear @xyzashu

Many people seem to be wondering if Blurt can be succesful.

Comparing to HIVE ... there is almost no updates about Blurt. Almost no noise. Noone I've spoke to could tell me anything ... anything at all about this chain. That's terrible.

ps. I've never heard about ZAPATA - is it another upcoming clone of STEEM blockchain?

Yours, Piotr

Yes, I agree; the hype and noise in these two forks is non-existent. So obviously, I don't expect them to do as good as Hive. I'd rather say these chains will be yet another experiment in this social space. Who knows, what it could turn out to in the long run! So, I ain't willing to sell my BLURTs or ZAPs at their launch irrespective of the price they get. It's a free money for us afterall. So why not give them some chance!