Basecamp — Rundown

We’re happy to announce that the back-end has already been tested completely and we can finally prepare to embark.

Skip to the bottom for whitelist brief.

The following variables are subject to modification to maintain protocol health
  • Cost per SNODE ⇒ 10 $SNOW
  • Daily Rewards per SNODE ⇒ 1 $SNOW
  • SNODE limit per wallet ⇒ 100 SNODES
  • $SNOW claim fee ⇒ 10% (returns to emissions pool)

$SNOW used to create Snodes will be distributed as follows:

  • Treasury as protocol-owned liquidity (POL) ⇒ 80%
  • Marketing ⇒ 10%
  • Team Funds (vested) ⇒ 10%

~Treasury Tokens and POL will be evenly distributed

Unlike other Protocols, Snowflake will be able to manage POL. (For maintaining Ecosystem’s Viability, variables are subject to adjustments to sustain emissions, APY and SNODE accessibility)
  • Initial liquidity raised from the Pre-Sale will be locked and not Protocol-owned.
  • Contrary to other protocols where treasury remains stagnant and under-utilized, we understand the importance of treasury, allowing us to:

⇒ Fund Future Development

⇒ Trade and Stake on a Protocol-level

⇒ Reward Community Members for their contribution → There will be incentives for early node creators for their contribution towards building up the Treasury

To ensure the community, the underlying contracts have been optimized well in the following manner:

  1. Treasury of our protocol will be a contract rather than a wallet to ensure no misuse.
  2. Streamlined to enable further development and avoid unforeseen interactions.
  3. Decentralized Reward Process.

Current Protocols use a WALLET for TREASURY
⇒ Using wallet as a treasury can not protect it from Malicious Activity or the diligence of the wallet’s owner, which can expose it to unwanted access and misuse.

⇒ Contracts for our protocol were re-built with a ground-up approach.

⇒ Functionalities compared to other node-based protocols are essentially the same, but the processes are completely optimized to ensure protocol safety.

⇒ An optimized baseline allows future developments to be built easily, avoiding the need for a potentially risky migration to new contracts.

“Summit,” the Pre-Sale.
  • Whitelist Allocations: 500
  • Maximum Contribution: 1000MIM

⇒ The Whitelist Process will be conducted fairly, prioritizing the contributors.

⇒ The Pre-Sale Phase will be 24 hours

⇒ Anyone involved in foul play will become ineligible for the WL, passing their allocation(s) to the Public Sale.

Public Sale

  • Maximum Contribution: 500MIM

After the Pre-Sale ends, any unsold tokens will be available for the Public Sale. Launch Timing will be decided upon afterwards with a community vote.

Details on Anti-Bot and Fairness Measures are intentionally ambiguous to avoid exploitation.
~Only interact with contracts in the official announcements.

  • Lifelong rewards aren’t something one can consider without paying attention to every detail & proactively managing the protocol. Efficiently managing Treasury and POL to back yield is imperative for the Longevity of the Protocol.
  • The back-end processes of the protocol have been reconstructed, prioritizing safety and security.
  • Until the community is built and shaped perfectly, Centralized Maintenance will upkeep the protocol’s sustainability. Afterward, community control can be phased in.
  • Manual filling of the Emissions pool demands a lot of assurance, while a Decentralized Protocol is the safest option where contracts automate such tasks, ceasing the trust aspect.

~Emissions upkeep should not require active human intervention

Once healthy parameters are established, there will be further developments. Community Members proposed some good ideas like:

  • Enable usage of protocol-owned liquidity for treasury gain
  • Compounding Feature ⇒ Avoid 10% claim fee by SNODING with pending rewards
  • Node Milestone Bonuses ⇒ Emission % bonus for owning 10, 20, 50, etc. nodes
  • Bulk-Creation Bonus ⇒ like creating 10 nodes at once and receiving 1 bonus
  • Snode tradability / fractionalization / bonding / auto-compounding ⇒ Probably nothing…

~*Ideas presented above are just proposals and do not represent an official "roadmap.")

This is what you’re here for.

Thanks to the fast development, we’ve decided to push this announcement forward, things are about to get frosty. As of this medium being published, we have noted down all the contributions. We have been watching, we have been inspired. Early contributors have been assessed and given a head-start. If you haven’t yet contributed, don’t worry we are still watching, if you have high effort contributions then we urge you to present them. You might notice some changes in the Discord following the coming announcements, you have time to sleep.

The journey to the summit is treacherous, you couldn’t possibly think you could do it alone, did you? Eskimos will be released in waves, there’s strength in numbers. There are 5 roles on the journey to the summit.

  1. Eskimo — You have steeled your courage and geared up.
  2. Embarked — It is dangerous to go alone, you find a team at basecamp.
  3. Frostbitten — You can no longer feel your fingers, breathing just tires you more. Your team needs inspiration to go on.
  4. Acclimated — The journey to the summit will break you down. Encourage other less experienced members, giving up means death on the icy trails.
  5. Ascended — As you approach, you notice a peak further ahead.. this journey might not be over. You look at your team, their body numb, mind shaken, and push on.

Announcements Sune, Stay Frosty ❄️

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