An Update for T2K
Much has been going on behind the scenes at T2K, and we wanted to update the community on some of the changes. As you are all aware, we are always watching and listening to the community, and we are constantly iterating and making changes that benefit our members.
Staking:
There are many changes upcoming to staking, and I will detail them here. As we know, T2K, like all tokens on the open market, is always subject to price increases and decreases. This has put some of our customers in a position where they have had to add additional T2K to their wallets to continue using our utility.
We realize this can be frustrating, so we’re in the process of making a change to this. You currently need to hold $125 of T2K at any given time to use the sniper bot.
If the price drops and you are holding the bare minimum, this could mean that you would fall below this threshold, and your snipe may not execute.
We will be introducing a snapshot when you execute your first snipe with us. This means that as long as you don't sell your original amount of T2K, you will always continue to have access to the sniper bot.
For instance, if today 10,000 T2K was worth $250, and you executed a snipe, you would have access to the bot regardless of price fluctuations, as long as you do not sell under that original amount of T2K.
If the price increases, you will be able to sell or use some of your excess T2K to pay fees and continue to use the sniper bots as long as you create a new snipe that is also executed while you’re above the threshold.
Again, this would give you access indefinitely regardless of price fluctuations.
Pricing:
As we have seen over the past few weeks, many members have executed successful snipes, and as such, we will be implementing a static price for sniper bot usage. As always, this is subject to change.
However, we have concluded that we will not change the price for a minimum of 30 days. Therefore, the Sniper Bot price will be a static $250 of T2K as of 3/21/2022. Once the change is finalized, we will not raise the price for continued usage for a minimum of 30 days..
You will need to hold this amount during your first executed snipe to get indefinite access moving forward.
Snipe Fees:
As we continue to grow into a utility business, we need to ensure that costs are covered, and we can continue to iterate as necessary. Therefore, there will be a 2.5% fee on successful snipes. For example, if you snipe 1BNB, a 0.025BNB fee will be automatically deducted from your snipe when it executes.
Additionally, it will cost you 100 T2K to load up that snipe and execute it. If a snipe does not execute, or you cancel it, you will be refunded the T2K in addition to the BNB of your snipe.
These fees are not currently in place and are not expected to be implemented for a few weeks. We always want to make the community aware of changes as we discuss them so we can answer questions should you have them.
Bonding:
We will reopen our bonding pools for BUSD and BNB in the next few days/weeks. This bonding pool will be filled with T2K by those people executing snipes. So, for instance, if you execute a 100 T2K sniping fee, these T2K tokens will be added to the new bonding contract. You can purchase this T2K back from us with a 5% bonus using BUSD and BNB.
This will alleviate pressure on the chart while rewarding people with an extra 5% of T2K when using the bonding process directly on our website.
Again, this is a few weeks out and is not planned for the next couple of weeks. We will continue to keep the community updated as we get closer to launching these price changes.
Why:
We live on transparency, and as it stands, we want to push the utility of our project. In order to do so, we need to ensure that T2K as a token is utilized within our ecosystem.
Implementing a T2K snipe fee will create buy pressure within the ecosystem, and the open market, while delivering back T2K to the protocol so we can continue to provide LP rewards as well as provide bonuses to those who continue to use the utility we provide.
Partnerships:
We’ve been working hard and having partnership conversations on nearly a daily basis. As a result, we are excited to announce that we are finalizing two partnerships that will be announced in the next few weeks. These partnerships will create a fantastic opportunity for our members and add to our utility even further.
Advertising:
We have a massive advertising push planned for when Coin Market Cap accepts us. This push will include trending placements and banner ads across hundreds of sites driving new eyes and members to the project. We have decided to go ahead and launch ads prior to this as well.
We are currently running ads on some of the largest cryptocurrency sites that are trafficked by millions of people daily. We are already seeing the results on the website, with thousands of unique clicks and views. We have earmarked $1,500 for this week and ads will continue until Sunday (3/13/2022).
We have a lot planned for this week and we are excited to announce our partnership AMA in the coming days. This will get thousands of new eyeballs on the project, and the partner is a direct compliment to our current T2K utility.
Thank you, everyone, keep an eye out for updates.
