SingularDTV’s Rewards Roadmap
PART 1 : SingularX and SNGX
SingularDTV to airdrop SNGX tokens to SNGLS token holders.
SingularDTV’s long term goal is the creation of a sustainable and decentralized entertainment industry. Through a mesh-web of tokenized ecosystems operating with a variety of models, features and functions, we believe that one day this could lead to a blueprint for a Universal Basic Income structure. If we can create sustainable entertainment economies between artists and their audiences, we can do it with anything… so goes our overarching mission and theory.
SingularX.com launched in November, 2017. A joint venture between SingularDTV and Centrality, SingularX is a decentralized exchange for tokens generated in the SingularDTV/Centrality meta-verse, as well as all Ethereum-based tokens that have utility and serve a purpose. SingularX fees are 0.3% per transaction. These fees are pushed into the SNGX token for storage or to be withdrawn by their holder. 10,000,000 SNGX tokens exist, split evenly between SingularDTV and Centrality.
Today, we are announcing that SingularDTV will airdrop its 5,000,000 SNGX into the SNGLS token in the coming weeks.
A snapshot of all SNGLS addresses will occur in May. The exact date and time of this snapshot is to be announced. In order to receive your SNGX tokens, move your SNGLS off all exchanges and into designated wallets before this snapshot occurs. We recommend storing your SNGLS in the SingularDTV light wallet or the tokit.io wallet.
Our vision for SingularX is for it to become a crypto-community owned Dapplication — open-sourced and with all SNGX tokens given away to SNGLS and CENNZ holders. All transaction fees are stored in the SNGX reward contract in the form of ETH and tokens. Currently, SingularX is paying for itself from its transaction fees, for a decentralized exchange in beta that has yet to be marketed, that’s a positive achievement.
Perhaps SNGX holders will use SingularX as their preferred exchange and spread the word to others. Emergent behavior of a community owned exchange remains to be seen, but we hope this experiment will be fruitful, and give something back to SNGLS token holders. SNGX and ETH bonuses will also be awarded on a monthly basis to the top 5 most active traders on SingularX as well. A portion of SNGX tokens earmarked for the airdrop may be held back to provide for these bonuses. Additional details on this bonus-reward will be forthcoming. Remember, anyone receiving any store of value from the SNGX token must be responsible for their own tax liability in their respective jurisdictions.
SNGX => SNGLS
5,000,000 SNGX into 1,000,000,000 SNGLS = 0.005 SNGX into 1 SNGLS
Therefore, if you have 10,000 SNGLS, you will receive 50 SNGX.
Once the SNGX token is airdropped, then what? How do you see your SNGX tokens in your wallet and how do you withdraw ETH stored in the SNGX token?
- Go to tokit.io and generate a wallet if you haven’t already.
- You’ll need to see the SNGX token in your wallet, so import its token address, 0x78774d1c3277b83459c730921bff11019017b233. Remember, never send any tokens to this address, you’ll lose them forever. This address should only be used once to import the SNGX token address into your wallet.
- Click into your SNGX wallet card and at the bottom left your pro rata portion of your SNGX ETH will be shown.
You may also notice the “deposit” button. This allows you to deposit ETH into the SNGX Reward contract. As the creators of SNGX, this is a process SingularDTV can do on a daily basis with a push of a button, to push the transaction fees into SNGX.
For the record, there will be no ETH appreciation rewards pushed into the SNGLS token. All ETH raised in the SNGLS launch of 2016 will be used to develop the SingularDTV Suite of applications and a decentralized entertainment industry. Any and all revenue generated by SingularDTV will be pushed into the SNGLS token once the appropriate and regulated infrastructure is established. There is currently no timing on when this infrastructure will be established. More updates on that will come later.
For more info, check out Centrality’s FAQ on the SNGX Airdrop.
SingularDTV reserves the right to change the above-mentioned specifics for the benefit of the SingularDTV ecosystem.
