Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Forum related => Forum Announcements => Topic started by: admin on June 18, 2023, 09:43:39 PM
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As you may know already, we distribute a token to our community, currently we have 2 tokens (one on the ethereum blockchain "ALTS", and one on the binance blockchain "ALTT").
We tried to avoid the standard mode of operations used in crypto projects (dumping tokens, and that's why we distribute our tokens very slowly).
After many years of overseeing this community and observing crypto communities, i came to the conclusion that the approaches we have do not work. And for many reasons.
1- We are a community, we should not only focus on rewarding early adopters, but rather engaged users.
2- Focusing on one blockchain or even two is like distrusting all the others.
3- We do not want to be stuck in old contracts that are limited, while new contracts might have nice features.
4- We want to be able to distribute, while keeping in mind distribution fees and lost tokens.
Changes :
1- We will adopt a new strategy i came up with, i call shedding.
Like some animals shed their skins when they grow, so will our token. This will allow the token to grow stronger with active members rather than a collection of addresses that have not been part of this community since a long time.
2- What does it mean to our current tokens ?
Currently we have 2 tokens that will shed into a single token, and later on, each new token would shed into a newer one. After the shedding all previous tokens will be made worthless by dumping a 50% of total supply into whatever swaps available, and removing any support to old tokens on our system or from the swaps. In simple words after shedding old tokens become useless and worthless.
3- Prior to shedding you get a period of 2 to 5 weeks to request the transfer
This period varies based on special ranks - With exception of VIP that can shed even after shedding ends.
To do so, you will need to send your tokens to a specific address we announce.
4- Based on your activity the last few months, you get a percentage of shedding.
Very active and productive member of our community - 100% shedding
Not at all active - 0% shedding (unless you have the immortals rank)
Otherwise based on activity shedding would vary from as low as 5% to up to 90% (Special ranks give certain boosts)
5- Distribution of new token.
The shedding ends with the distribution of the new token.
And the new token would then replace the previous one in all the aspects. The previous one would be rendered useless.
6- FAQ.
- When will we shed tokens ? Whenever we reach the 50% mark or based on other factors we consider important ( issues with the contract, major hacks, etc)
- What happens to tokens that are not shed ? They become worthless. You need to keep shedding your tokens to always have the most relevant token.
- Why are you doing this ? This is a community, and even though early members had huge contributions, at the end of the day what matters most is current engagement and not the past.
If you have any questions, please ask below, i will add to the FAQ.
Admin.