MASQ Network
Published in

MASQ Network

MASQ Project— Tokenomics Announced

Sneak Peak at our new Logo and image

It’s been quite a journey already, since forming our committee in October 2019.
Along with our focus on software development, strategy, governance and community engagement, we had the task of deciding a path forward with the monetization component of our Node software…

Do we launch our own token or not?

Now, to be honest, this wasn’t our preferred option — our committee had many concerns over this pathway including skepticism of utility, general tokenomics, how this would be received by public and how to orchestrate a token launch! Not to mention there is a lot of negativity towards the original project company, which we were fearful that would spill over to our camp.

Our true goal is simply development — we don’t want to focus on the past!

But our path is clear after research, discussion, advice from various parties and our strategy moving forward with Node.

Please reference our Greypaper for the official outline of all the Tokenomics details, but below is a TL;DR for everyone

  • Smart Contract — we are using a clone of the original smart contract which was audited by Quantstamp. It’s public on Etherscan.io with contract code listed
  • Tokenomics — total token supply will end up roughly 55-60% of the original minted supply of 472 million
  • Development Wallet — a development wallet of 40 million tokens is earmarked to provide further support during development and project growth.
  • Current committee members have a pool of 9 million tokens
  • Airdrop — All holders of SUB token holding 500 or more tokens will be airdropped, but known exchange wallets and network/founder token wallets from the previous project company are excluded from airdrop
  • Remaining tokens will be sent to the 0x00000… address
  • Snapshot date is being finalized, but the team has stored monthly historical snapshots of holders from Dec, Jan and Feb.

Important caveat to above — if any major exchange wallet, or previous ‘company-controlled wallet’ has major movement, we will attempt to use balances from a block previous to that transaction. This will prevent any exchange or previous company interference with our process and keep it fair to the current Community

  • As all of our Committee are volunteers donating our time and efforts, we will rely on donations from our community to help fund airdrop services, gas fees and other related costs.

ETH address for any donations from our wonderful community:

0x27d9A2AC83b493f88ce9B4532EDcf74e95B9788d

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
KauriHero

KauriHero

106 Followers

Passionate about decentralization and freedom — working in high performance teams to better ourselves and the people we interact with!