Its token audit and accountability time! We’ve been running for almost two years now as a project and as we begin to push out products and await the launch of our platform’s centerpiece - “The Horror Hub” its time to take stock of our token supply, where it all is and what plans we have for it!
Burn them and Lock the rest up!
First of all the elephant in the room, 45,812,000.00 in team finance under the project’s control, the majority of which was unlocked until two days ago. This needed to be addressed and so we’ve done it. We are happy to announce the following adjustments…
4% of Total Supply Burnt
2,600,000 (4% of total supply) Tokens unlocking in 57 days time have been burnt!
To verify please visit…
https://etherscan.io/address/0xc77aab3c6d7dab46248f3cc3033c856171878bd5#readContract
Call the getDepositDetails passing in ID 989
Verify our tokenAddress matches the ETH one at fear.io/token.html
Verify the withdrawal address is linked to a ERC1155 contract and not a wallet address (its impossible for this address to be used as a wallet to call and sign transactions with the Team Finance withdrawal method on their contract)…
Here is the withdrawal address and contract deployed to it
https://etherscan.io/address/0x8d453bA8C6B16413F888A30699458001Ee8dd7AE#code
Tokens cannot be withdrawn and are burnt forever!
60.6% of Total Supply Locked up
36,289,500 (55.8%) total supply now locked until 1st Feb 2025
3,120,000 (4.8%) total supply now locked until 1st Feb 2024
3,802,500 (5.85%) total supply remains unlocked (along with approx 1 million outside of Team Finance under the projects control) to fulfill the following “possible” commitments. We say possible because these tokens will only be used where they benefit the project in terms of expansion be it new exchange listings, staking rewards, marketing or rewards. Given our Bitepaper’s business model for our platform we don’t anticipate using a large majority of the unlocked tokens but it’s good to have some on hand.
- Exchange listings — 1,000,000
- The Crypt Staking — Long Term Rewards — 1,000,000 (assuming a 5,000,000 FEAR staked over two years)
- Marketing — 250,000
- Ecosystem — 250,000
- Dev Incentives — 250,000
- Remaining SEED/Private allocation yet to be claimed — 2,000,000
TOKEN FUTURE PLANS
What are our plans for the tokens unlocking in 2024 and 2025? The majority of these tokens remain unlocked unless we want to incentivise long term partnerships to expand our project or we have large exchange listings. So again the next time we come to unlocking time we’ll provide an update on relocking and future plans.
FEAR aims to be fully funded outside of token sales and they are currently not required to sustain the project. We believe in our Bitepaper business model and the revenue generating opportunities it will bring along with the Horror Hub.
