We are listening to the voice of the community so we have changed the design of the FAIL token as requested.
The total supply will be 500 000, less than the 2.1 MIL token cap initially designed. Changing the total has led to the decision to reduce the number of participants to a max of 3000 people during July and August 2019. In this way FAIL Token team, will be leaving the majority of the supply in the hands of the community to be distributed. We will only distribute a maximum of 186 000 through our Airdrop programs - 37.2% of the tokens.
We are enabling a mint function to incentivize the community to do their own airdrops as per below:
The 30 000 FAIL tokens will be used for PBE (Public Burn Events), community prizes and other marketing purposes.
From the pool contract, every account will be able to withdraw only one time. Everybody can chose to withdraw one FAIL token, or to wait to be whitelisted for a bigger prize based on the periodical competitions that we will publish.
Once the total CAP of 500 000 will be reached the burn function will be enabled, making from FAIL token the first token with a dynamic burn rate. Until 250 000 tokens there will be 2% burn rate from the transaction amount, and then the burn rate will be reduced to 1%. Once the minimum cap will be reached (50 000 tokens), there will be no more burn rate.
The good news will continue to appear once, so stay tuned.
Fail Token is a token experiment that tries to achieve ideal distribution through transfer minting before activating it`s deflationary feature.
How much is the total supply: 500.000 Fail tokens
How much is the burn rate: 2% until 250.000 Fail tokens and 1% to 50.000 tokens
If will be there a minimum supply: Yes, 50.000 Fail tokens
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