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One huge plus is Trustswap doesn’t charge a commission to lock Uniswap liquidity. Lock.finance, Unicrypt.network both charge a small percentage to use their locking contract. Further, it appears neither of them offers vesting schedules. This is a must-have to build & prove trust to our investors.
Vesting Schedule + Cost of Living
The 20% of the total hard-capped supply that Filip and I have reserved for ourselves serves to allow us to pay our bare minimum bills. Think of: rent, food, electricity, internet.
The estimated bare minimum cost of living we came up with was roughly $1,000 per month – which is quite cheap considering prices around the world.
The 20M tokens will be on a vesting schedule over the course of 2 years. There will be a total of 24 token releases – once per month.
Filip has chosen to lock 8% of his 10% leaving 2M tokens available to sell on an as-need basis. No immediate selling is planned for these 2M tokens ($6,000) – The first token release is scheduled for February 1st, 2021 in the amount of 333,333 tokens, or $1,000. Again, sold on an as-need basis.
Jake will lock the entirety of his 10% shares for 2 years. The first token release is scheduled for March 1st, 2021 in the amount of 416,000 tokens. Jake has other forms of income and does not intend to sell his tokens even as they’re releasing. Keep in mind, the tokens have value as it allows us to help direct the project via our DAO.
Consider the following: Our token is hard-capped at 100M tokens. Other projects siphon value from their investors by diluting their supply via inflation. Worse, they don’t have a hard cap and plan to inflate indefinitely.
The community voted & ruled on a hard-capped cryptocurrency. As we sell the tokens on an as NEED basis, those tokens are permanently moved into the community hands. The only way for us to acquire them back is by fair market purchase. Fair, simple, scarce.
I’ll be honest with you guys, the first go-around signing the vesting schedule contract did in fact fail by running out of gas. Our token contract is quite complex due to the fact you can carry the token into our DAO and propose/vote to make meaningful changes.
Upon reaching out to my contact within TrustSwap, we had a group of 4 people working together to pinpoint the problem and work on a solution. In fact, we are still working on resolving the problem now, but I imagine the vesting contracts should be live within a few days thanks to TrustSwap developers.
All around great support from the TrustSwap team. If you’re interested in using learning more about TrustSwap visit their homepage here.
UPDATE: After working with the TrustSwap developers we have come to the conclusion our contract is not compatible with TrustSwap contracts. A sad day, as it appeared TrustSwap had all of the tools we needed, but perhaps not. The developers initially very excited and responsive to help but, that quickly tapered off. Quite dismissive towards the end of it all, which left a bad taste in the mouth. Overall a $65 lesson as that’s what TrustSwap asked in gas fees for the initial approval and contract submission, aside from the roughly $200 fee they charged on top.