The New Sniper Contract

As many of you are aware, as of yesterday our new sniper contract has launched. We delayed this launch in the evening Pacific time as we noticed there were many set snipes and we did not want to affect those.

If you have a snipe that was scheduled after 9pm pacific time, you have already been refunded and need to set a new snipe up.

So what’s changed?
When we relaunched T2K we implemented a $250 holding requirement to use the bot. As the price changed, unfortunately, some people were blocked out from using the bot. This has now been addressed.

The holding requirement is being raised again to $250 to use the bot, but after the first successful snipe, you will be grandfathered in to use the bot. You will need to retain the same amount of tokens in your wallet, and our snapshot will allow you to continue to use the bot regardless of price. The $250 consists of the combined value of your held and staked T2K, as well as your staked T2K-BUSD LP tokens.

As an example (and a rough one) if you need 20,000 T2K to use the bot, as long as you continue to have 20,000 T2K when you’re setting up snipes, you will be able to use the bot.

What about fees?
As you are all aware, running a web3 business is not cheap. Due to this, we are imposing a slightly different fee structure than was currently being used. As of yesterday, in order to execute a snipe, you will be charged a 2.5% snipe fee (only on successful snipes). If your snipe does not go through, you cancel or are refunded, this fee is returned to you.

The minimum snipe fee is 0.02BNB. Only after you reach the threshold of 1.1BNB per snipe will your snipe fee increase above 2.5%.

Additionally, there is a 200 T2K fee per snipe. Similar to the general snipe fee, this is fully refundable should a snipe not execute, is canceled, or is refunded.

What are you doing with the T2K collected from Sniping Fees?
We’re not sure yet. We want the community’s input on what we should do with these tokens. There are tons of options but the two that we’ve got the most feedback on are:

• Burn the tokens
• Resell the tokens back to whoever through a bond at a discount

We’re open to more ideas and we want to hear what you think we should do with them, so let us know in the discord and the Telegram.

AMA?
There will be an AMA later today so if you have questions please join us. It will be hosted on Twitter Spaces https://www.twitter.com/token_toolkits

Speak with you all soon!