$SUB & xSUB token contract redeployment & Summary of Governance Proposal Results
Recently we have held our first-ever proposal, and the results are in. It was held because we believe that the community should play the most important role in the project.
Given the current state, we wanted to provide solutions to improve the $SUB token & project overall condition via proposed contract redeployment.
Who could vote?
Those who owned $SUB tokens before the snapshot time (24.02 5 PM CET) were eligible to vote. One $SUB token equaled one vote, including tokens in the participant’s wallet, tokens in staking, and tokens locked at Subpad.
Anyone who sent 1 $SUB token to the wallet address 0x170A9E09Cb02508e477bD806C39fdD7Dc8374881 before 27.02 at 7 AM UTC was eligible to vote.
Voting results
A total of 27,001,071.80 votes were cast in the proposal. Here are the results of the voting:
Do you agree with the redeployment of the $SUB token contract?
A. Yes — 95.98% (Let us create the new token!)
B. No — 4.02% (We keep the old token)
On which liquidity pair do you want the $SUB token’s liquidity pool to be based?
A. SUB / BUSD — 34.20% (with this liquidity pair we are building the foundation of the stable growth for the $SUB token with parity to 1$ backed by BUSD)
B. SUB / BNB — 65.80% (with this liquidity pair the $SUB token value will go up if the BNB price goes up, but it will also drop down if the BNB price goes down)
Do you want to introduce the DAO treasury & staking tax on $SUB? If yes, what should be the initial level of the tax?
A. Yes, 10% — 66.99% (50% goes to the staking pool, 50% goes to the dao treasury pool)
B. Yes, 5% — 4.44% (50% goes to the staking pool, 50% goes to the dao treasury pool)
C. No, 0% — 33.57%
Do you want the transaction fee for bridging your $SUB tokens? The fee will go to the new liquidity pool.
A. Yes, The fee should be 0.2 BNB — 11.03%
B. Yes, The fee should be 0.1 BNB — 38.45%
C. Yes, The fee should be 0.05 BNB — 30.23%
D. No — 20.29%
Do you want to increase the $SUB contract decimals from 4 to 18?
A. Yes — 95.34% (LP tokens will have the displayable value of integer numbers)
B. No — 4.66% (LP tokens will not have the displayable value of integer numbers)
Do you want to introduce staking from the marketplace revenue — as mSUB — instead of the 10% of the revenue that would go to staking?
A. Yes — 91.69% (The special staking pool will be created (not connected with xSUB) for the users waiting for the revenues from the app — as a consequence more $SUBs will be locked at staking & the circulating supply will be lower with higher token value)
B. No — 8.31% (Revenues will be used for the xSUB staking rewards)
Do you want, instead of 5% burn, to allocate 5% to the treasury from the marketplace revenue?
A. Yes — 33.14% (You will decide via voting whether the tokens will be used for burns or other goals)
B. No — 66.86% (The tokens will be burnt)
Do you want only the committed $SUB holders to take part in future governance proposals? (Committed $SUB holders are those who have locked their $SUB tokens at https://app.subpad.io )
A. Yes — 56.97%
B. No — 43.03%
What has changed?
The voting results show that most of the community agreed with the redeployment of the $SUB token contract and supported the introduction of various changes to enhance the project’s performance via token upgrades.
The $SUB and xSUB contract redeployment has been completed, and new addresses have been provided for the tokens. All holders of old tokens ($SUB Old & xSUB Old) need to bridge them, and a 0.1 BNB fee will be charged upon bridging old $SUB tokens. The entire fee will be utilized to build the new $SUB token liquidity pool.
The changes introduced in the redeployment include the implementation of an antibot system, the introduction of a 10% DAO treasury and staking tax on $SUB, and an increase in the $SUB contract decimals from 4 to 18.
Moreover, only the committed $SUB holders will be able to participate in future governance proposals.
These changes are significant for our project’s future, as they aim to enhance its token condition and value and provide better outcomes for you — the community.
How can I bridge my old tokens?
Together with $SUB token redeployment the xSUB token redeployment is necessary.
New addresses are the following:
$SUB token new contract: 0x47bb3d817e627d196ae74b89afa7928c2bb159a9
xSUB token new contract: 0x708a3a76f9050ee2A9F3cC4676fA8d08683b06E9
All holders of $SUB & xSUB old tokens need to bridge them. They can do it by entering the website: https://panel.subme.cash/
To bridge over the old tokens connect your wallet and click on the button “Bridge all tokens”.
A pop-up asking to approve will appear. Accept it & click default in the pop-up window. Then wait. Do not click again “Bridge all tokens”. A second pop-up will appear. Accept it. Then the new $SUB tokens will appear on your wallet address.
Notice: 0.1 BNB fee will be applied upon bridging your $SUB tokens — the entire fee will be used to build the new $SUB token liquidity
Notice 2: You need to bridge both $SUB & xSUB tokens. You can do it by choosing in the up part which tokens you want to bridge. The above 0.1 BNB fee applies each time you bridge the $SUB tokens.
Summary
To sum up, the NEW SUB & xSUB & Bridge contracts are the following:
SUB TOKEN NEW = 0x47bb3d817e627d196ae74b89afa7928c2bb159a9
xSUB TOKEN NEW = 0x708a3a76f9050ee2A9F3cC4676fA8d08683b06E9
You can also buy NEW $SUB TOKENS here: https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0x47bB3D817e627D196ae74b89AfA7928C2Bb159A9
$SUB & xSUB redeployment and the governance proposal results showcase the direction that our project takes listening to the voices of you — our community members.
The changes introduced will undoubtedly have a positive impact on our future, and we can expect more proposals on innovative solutions and improvements to be voted on.
