STRANGE Distribution Plan

strangerarray (63) in bitshares • 7 years ago (edited)

UPDATE: Effective Immediately the BitShares DEX Sign Up Incentive has been suspended and may be ended permanently. Due to extenuating circumstances the Incentive has not performed as planned and to prevent further abuse will be halted. Any current sign-ups will receive their 1,000 STRANGE and after that point no further Incentive Tokens will be distributed.

The time has come to unveil further details for the STRANGE Token Distribution Plan!

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First the Details of the STRANGE Token:

And more background here.

MAXIMUM SUPPLY: 10,000,000 STRANGE

The Distribution Plan:

Designation	Percent	Token Quantity
BitShares DEX Sign Up Incentive - Sudpended	20%	2,000,000
Token Design Contest Prize:	0.5%	50,000
Distribution to Current BitShares DEX Users:	70%	7,000,000
Reserve (to be burned if not needed):	9.5%	950,000

Explanation of categories:

The BitShares DEX Sign Up Incentive* -- SUSPENDED.

In fact, I have had 1 new sign up already, noconnor8, who I have sent the 1st sign-up bonus!

Token Design Contest Prize will have a REWARD of 0.5% of the total equalling 50,000 STRANGE Tokens.

More details of the Token Design Contest to follow soon!

Distribution to Current BitShares DEX Users of 70% which will be a total 7,000,000 STRANGE Tokens. According to http://cryptofresh.com/a/BTS there are at the time of this writing 38,146 Holders & Traders of BTS.

Using this number, I get 7,000,000 tokens ÷ 38,146 users = 183.51991 which will be rounded to 185 tokens each.

From what I have found on http://cryptofresh.com/, I have been able to identify only 5,186 users for which to send the initial distribution.

Once I begin the distribution 5,186 users x 185 tokens = 959,410 total tokens distributed.

The remaining tokens will be preserved between now and December 31st, 2017† for users who did not receive the initial distribution to contact me and I will be able to send them their portion. If the users who do not receive the initial distribution do not contact me by the deadline of December 31st, 2017†, then the remaining portion of 6,040,590 STRANGE tokens will be burned, reducing the total supply.

Reserve (to be burned if not needed) of 9.5% of total, which is 950,000 tokens will be held to be used if necessary for other promotional endeavors, including but not limited to: additional sign-up incentives, additional STRANGE token contest, other advertising efforts, etc.

If they are not used by the deadline of December 31st, 2017†, then the remaining portion of STRANGE tokens will be burned, reducing the total supply.

The distribution will begin after the posting of this blog today and will go until I am able to finish the list of 5,186 users, at which time another post will be made.

Thanks, and as always:

Stay tuned.
Stay interesting.
Stay Strange.

UPDATE: Approximately 10% of the Distribution to Current BitShares DEX Users, so 10% of the 5,186 users on my list have now been distributed 185 STRANGE Tokens.

UPDATE #2: Over 50% of the Distribution to Current BitShares DEX Usershave now been distributed 185 STRANGE Tokens.

UPDATE #3: Over 75% of the Distribution to Current BitShares DEX Users list have now been distributed 185 STRANGE Tokens.

I am doing my best day and night, to get these out to you as soon as possible. If you haven't received yours, please be patient. Also, leave your BitShares name below so I can make sure you are on the list!

Created by Michael Paine

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† Date subject to change WITH notice.