Jun 10
$UNBOX Token Launch Timeline Update
Dear $UNBOX investor & community member, we know you have been eagerly waiting for an update from us, and we have been anxious to give you one! Thank you for your patience.
As you probably already know, our goal is, and has always been, to launch a token is that fully functioning, tested & secure.
The process to achieving that goal, including the audit, is as follows:
1) Outline the $UNBOX token, its functionalities and mechanisms (tokenomics & token mechanics)
2) Develop
3) Test
4) Review, fine-tune, fix bugs
5) Audit
6) Whitelisting period
7) Pre-sale
8) Launch
Where do we stand now?
The token has been developed and tested by the team. The great news is that the P2P and market buy/sell are working smoothly, and that the tax is being taken into account. The heavy lifting has been done and the team is thrilled with that.
However, during the testnet we encountered an issue with the token’s BNB reflection mechanism. The BNB rewards system is a center piece of the token’s utility and as such, is a priority to be straightened out prior to launch. In order to optimize the token, we first need to ensure that the rewards system does NOT jeopardize the longevity of the coin. The issue uncovered in the testnet would lead to creating unnecessary sell pressure on the $UNBOX token, thus must be remedied.
What is the team doing to remedy this issue?
Our team has been actively seeking a solution by studying other tokens with similar functionality, to understand the mechanisms that can be utilized to provide the desired outcome.
Concurrently, we have contacted our networks to see if anyone is aware of a known solution to this issue, and/or knows a developer that can support ours in troubleshooting.
We welcome your suggestions. Please let us know if you have an idea or a connection that could help us resolve this matter.
What is the timeline for the $UNBOX token launch?
Having the token ready before launch is of utmost importance. So the timeline is contingent upon how quickly the devs can fix the rewards mechanism.
That being said, the timeline is also contingent upon the length of the audit.
We have been in contact with several auditors, and there is one in particular that is set to audit $UNBOX, once everything is working properly.
The process can vary from project to project, but their estimated timeframe for this type of audit is usually about a week.
Given our aim is to launch with a fully functioning token, we want to inform you that the launch must be delayed.
We had originally set a comfortable timeframe of two weeks for the whitelisting process, however it might be lengthened since it has technically already begun (some spots have been awarded to game winners).
More Whitelist spots with be awarded through engagement (games & a creativity contest), and a set of social activities requirements customary in our space.
So the timeline looks like this:
- Rewards mechanism optimization (TBD)
- Audit (expected time frame 1 week)
- Whitelisting period (now until? TBD)
- Pre-sale (1 week)
- Launch
This gives us a new potential estimated launch date of around mid-July.
We will keep you abreast of any important development in this unfolding situation.
And once again, thank you for your patience, continued support, and for being the best part of $UNBOX!
Warmly,
Team $UNBOX
