Fee Sharing Update: Deployment Preparation and Revised Approach
This article provides an update on the progress of the Fee Sharing arrangement, target deployment, with revised strategies to ensure community benefit.
Hey Platypuses! The preparation for the Fee Sharing arrangement is nearing completion! Our team is targeting to deploy the fee sharing by the end of August 2023. Get ready, as we spill the beans on important updates into the upcoming deployment.
Revised Approach for Fee Distribution
We’ve enhanced our approach to benefit our community. After thorough consideration, we decided not to buy back $PTP with the fee accrued, in order to prevent any risks of front-running and ensure that the value of collected fees remains intact.
Instead, we have opted to distribute the fees in a variety of tokens that we have collected. This approach ensures greater stability and maintains the value of the fees collected.
Update on Airdrop Contract
To support the multi-token claiming process for fee distribution, we are currently working on updating the airdrop contract. Our tech team is engaged in auditing the contract to ensure its security and efficiency. Once the contract has been audited and the frontend has been updated, we will be ready to deploy the Fee Sharing arrangement.
Final Words
We will keep the community informed about the progress, and we will announce the deployment of the Fee Sharing arrangement as soon as it is ready. Stay tuned, and keep the fire alive for more updates to come!
