Changing our Total Coin Supply to Match Demand…
Here at Smoke Holdings, we know how to study the data and adapt when needed (read our previous story on pivoting from EOS to our own blockchain). So when making this change the decision was easy.
We’ve had a huge interest from the community for our project with over 20 000 members in our mailing lists showing their continued support for Smoke Network and a thriving community of users on active on our Testnet blockchain.
There is however one thing that we feel we could have done better with for the community with our project.
While we invision Smoke Network as a leading player in the social media landscape and a pioneer of community rewards based social network, we also need to factor in supply and demand and our token economics to make sure our project has value for its users.
Dropping total supply substantially.
We have decided to drop the total SMOKE supply to 42,000,000 and change the distribution model of Smoke Network accordingly.
While this does not change our vision for our product roadmap or our softwares development, we feel this will have a ton of benefits for the Smoke Network community and allow us to scale to the size of our community.
Here is a final outline of how our main-nets distribution:
- 13,400,000 — Sold in presale (31.9%)
- 1,000,000 — Airdrop. (2.381)
- 1,000,000 — Advisors (2.381)
- 4,200,000 — Team (10%)
- 1,400,000 — Seed Account(3.3%)
- 21,000,000 — Public Sale (50%)
How this will affect SMOKE holders.
Current SMOKE holders will not be affected in any way by this change (Other than now having a larger percentage of total supply). All SMOKE allocated will still be the same amounts.
There will simply be less total SMOKE in circulation and our Airdrop event will be limited to only 1 000 000 tokens. Once we have reached 1 million on our airdrop it will close.
ICO investors can still receive SMOKE at the same ICO price and our software will still function in the same way as planned.
Whitepaper Updates
In addition to our Token Supply updates, we have also released an updated version of our whitepaper including a ton of recent info included the latest status of our live Testnet and new additions to our team.
If anyone has any comments we look forward to your feedback and we strongly believe this update will be a win-win for the entire Smoke Network community.
Thanks for the support!
Jonathan
Smoke Holdings IBC
