First off, welcome to all the new people that came into the community during the market downturn. We didn’t expect it, but are very appreciative of it as we were able to talk about Stonk of what we do, and where we are going. At the time, we didn’t finalize our game plan moving forward, but with this Medium post, you will get just that.
Summary of Then and Now
The launch of the first Stonk Token did not go as well as we had planned. There were numerous technical difficulties both inside and outside of the Dev team’s control. The site also launched during a unprecedented crypto crash (one Youtuber I saw mention it the lowest he had ever seen for BTC on the MACD). The result was the Stonk token price had declined more than anticipated. We’ve learned a lot from our very first Polygon token launch, which I might add, has blown up and is making a huge case to take a lot of TVL from other chains.
We’re launching a new token; STONKX. The intent of this token is to put the launch issues behind us and reward our original Stonk token holders with our new token. Stonk holders will be able to earn STONKX through a dividend pool prior to the new site launch.
TLDR: better site, better tokenomics, return value to the original Stonk holders
Timeline
- STONKX has already been minted and provided to the STONKX-USDC pool. Token initial price has been set to $20USD.
- Site will go live at approximately 2:00PM UTC on May 28.
- Stonk dividend pool paying out STONKX will launch at approximately 2:00PM UTC on May 28.
- Farming will begin at approximately 12:00AM UTC on June 1.
- STONKX dividend pool pays out in MATIC begins once the number of STONKX tokens reaches 100,000 (approximately 5 days), the STONKX profit sharing pool will open and redistribute the fees earned.
Tokenomics
I am sure by now, you are all SALIVATING to get this next chapter started, but in order to do that, we want to be very clear of our Tokenomics so there is no question how things work behind the scenes for your favorite new token, and they are:
Emission rate:
- Reward per block — 0.5 STONKX
- Daily emission (Based on 40K blocks per day) — 20K STONKX per day
Deflationary Mechanics:
- Farms and pools will get STONKX depending on the multiplier shown on the top right corner
- Once the STONKX-USDC pool has sufficient liquidity, the initial STONKX pairs will be removed and saved for strategic burns.
Distribution:
- Farmers — 100% of rewards go to farmers
- Farmers daily — 20,000 (based on 20,000 blocks per day)
Fees:
GameSwap collects a 4% deposit fee on non-native tokens and pairs to fund the profit sharing pool.
- 1/3 of the fees will be used to buy STONKX and burn to stabilize the price. Burn will take place daily
- 1/3 of the fees will be converted to Matic and placed in the dividend pool. Dividend pools will be filled once per week
- 1/3 of the fees will be held in the dev wallet for strategic initiatives and dev salaries
Profit Sharing:
The deposit fees collected will be converted into Matic and deposited in the profit sharing pool. The first round of funds will be deposited after the 100,000th STONKX has been farmed. The profits will be distributed over a period of one week. At that time, the prior week’s fees will be deposited and distributed over the next week. To give you a rough estimate of the profits to be distributed, for every $1M of TVL, the fees would be about $40,000.
The Team Within The Team
This has been mentioned by me a couple of times in our Telegram group, but I will say it here as well. Especially with this next chapter, we are actively seeking people who would oversee the new Telegram groups that will be created, which cater to Non-English speaking people within our community, and in the broader crypto community. So if you are interested in this, please make sure to reach out so we can get the ball rolling with that. The languages will be for Spanish, Mandarin, French, among others.
We will try people on an interim basis, and see how it goes from there. If we feel like that person has really grown that Telegram group by being very outgoing and supportive, we would consider bringing that person into the core team. So let’s start this, and see where it heads because STONKX is not only for English speaking people, but for all. :)
To Finalize
We appreciate everyone who has stuck with us through all the ups and downs, and with the initiation of this next chapter, we know that quite a few more people will hop aboard with us for the ride. And if you would like to assist in order to make this more beneficial to you and our team, Tweets and hashtags go a long way in social media. We do see the ones helping to build the community, and again, appreciate it from the bottom of our hearts.
