Important Update to the Snapshot for Jurassic Farm
Hello Everyone. Please make sure to read the below which goes into how our snapshot will work for version 2.
We will allow the community to vote for two options.
Option one will be that the team adds liquidity but the liquidity added will be significantly lower than in Option two
Option two is detailed below and we have added a FAQ based on community feedback.
TLDR at the End of Article
FAQs for Option One
(1) Question: What changes are being made to the snapshot process?(IMPORTANT)
(1) Answer: Instead of a snapshot, we will ask all users to send their DINOv1 to the dev wallet. We will snapshot that wallet and distribute DINOv2 to users based on the amounts sent to this wallet. This will ensure we capture all active users who provide DINOv1 to the wallet. We will share the snapshot on Tuesday and distribute the v2 tokens before launch, shortly after Liquidity is added. We need to ensure no one adds Liquidity before the team, so the price is properly set.
THE SNAPSHOT WILL BE TUESDAY AT 4 PM UTC REGARDLESS
(3) Question: Why do you need us to send our DINOv1 to a new wallet? Can’t you just use a snapshot?
(3) Answer: IMPORTANT — Everyone by now should be aware that throughout the course of Jurassic Farm we burned Liquidity pairs (DINO/BUSD & DINO/BNB). These LP pairs still exist in the burn wallet and perpetually provide something to sell into. We will use all of the DINOv1 received to sell into the LP pairs and collect liquidity to use for DINOv2. The liquidity floor method worked and currently about 40% of the liquidity on Pancakeswap belongs to the burn wallet, so we should be able to obtain a decent amount of liquidity to use for DINOv2/BUSD.
(4) Question: Is there a risk that I lose money on the conversion of DINOv1 to DINOv2? Will the team add liquidity for DINOv2?
(4) Answer: There is always a risk you lose money when participating in this space. We will use the burned liquidity that we receive from selling the DINOv1 to gain liquidity for DINOv2. Additionally, we will add liquidity ourselves depending on the amount of liquidity recovered from selling DINOv1. The price we add liquidity at for DINOv2 will be as close as can be to the USD price at the time of the conversion.
TLDR: All users that want DINOv2 must send DINOv1 to a new wallet we will provide. They will receive DINOv2 proportionally to what they send to the wallet. We will use the DINOv1 received to sell into the existing liquidity pools and gain liquidity that will be added to DINOv2. We will set the price for DINOv2 as close as possible to the price at the time of the snapshot.
We will send NFTs (once created) to anyone who sends their DINOv1 to the dev wallet for the liquidity add if this option is selected.
Website: https://www.jurassicfarm.app/farms
Telegram: https://t.me/JurassicFarm
