Sebastian Gronewold
Sep 3 · 7 min read
Photo by Eaters Collective on Unsplash

Today we are officially introducing the Tixl Hodlers Club — a reward program designed specifically for our early investors. By early investors, we mean people who invested in the first two phases of our token sale, as well as people who buy on Binance DEX until the snapshot date mentioned in the next chapter. The Hodlers Club allows investors to stake their tokens and receive tokens as a reward.

How can I enter the Hodlers Club?

To be a member of the Hodlers Club you need to have a minimum balance of 10 MTXLT on your Binance Chain address(es) at the Hodlers Club Snapshot date. This snapshot will take place on October 13 at 10 pm UTC.

Can I have multiple Wallets?

Yes you can. The amount of MTXLT you have across each of your Binance Chain addresses can be combined and, provided the total meets the minimum thresholds below, means you can be a member of the Club. If you want to include balances across multiple wallets the snapshot date above applies and moving funds after this date will not be acceptable.

How long do I need to Hodl for the Rewards?

The minimum Hodling time is 6 months. From there, there will be four further hodling stages; 12, 18, 24 and 36 months. The rewards will be based on a percentage of the tokens you hodl in your wallet(s) at the initial snapshot date. The exact percentage depends on the number of tokens you hodl and how long you stake them for. At the basic member level, starting with 10 MTXLT, the following percentages apply:

  • 6 months = 2.5%
  • 12 months = 5%
  • 18 months = 10%
  • 24 months = 12.5%
  • 36 months = 20%

Using the example above: Let’s say you qualify for the club with 20 MTXLT at the initial snapshot date and you are planning to hold 36 months. In this scenario you would get 0.5 MTXLT after 6 months, 1 MTXLT after 12 months, 2 MTXLT after 18 months, 2.5 MTXLT after 24 months and 4 MTXLT after 36 months. After three years you would have 30 MTXLT instead of 20 MTXLT.

For any of the member levels, you can work out how much you will receive by adding the percentage that corresponds to the length of time you stake and everything above this. In the example above — 36 months = 20% + 12.5% + 10% + 5% + 2.5% = 50% in total. 50% of 20 MTXLT = 10 tokens. Plus the initial 20 that were staked = 30 MTXLT.

What are the Member Levels?

The member level depends on the number of tokens you are staking. The basic level starts at 10 MTXLT and increases to 500 MTXLT to qualify as a Diamond Member.

  • 10 MTXLT = Club Member
  • 25 MTXLT = Bronze Member
  • 50 MTXLT = Silver Member
  • 100 MTXLT = Gold Member
  • 200 MTXLT = Platinum Member
  • 500 MTXLT = Diamond Member

The following calculations apply for the different levels:

Club Member (up to 50% reward)

  • 6 months = 2.5%
  • 12 months = 5%
  • 18 months = 10%
  • 24 months = 12.5%
  • 36 months = 20%

Bronze Member (up to 100% reward)

  • 6 months = 5%
  • 12 months = 10%
  • 18 months = 15%
  • 24 months = 20%
  • 36 months = 50%

Silver Member (up to 125% reward)

  • 6 months = 5%
  • 12 months = 15%
  • 18 months = 20%
  • 24 months = 35%
  • 36 months = 50%

Gold Member (up to 150% reward)

  • 6 months = 5%
  • 12 months = 17.5%
  • 18 months = 25%
  • 24 months = 37.5%
  • 36 months = 65%

Platinum Member (up to 175% reward)

  • 6 months = 5%
  • 12 months = 20%
  • 18 months = 30%
  • 24 months = 40%
  • 36 months = 80%

Diamond Member (up to 200% reward)

  • 6 months = 5%
  • 12 months = 20%
  • 18 months = 30%
  • 24 months = 45%
  • 36 months = 100%

Do I need to stake the Tokens for the entire Time?

Yes, if the balance on your Binance Chain wallet(s) falls below the number of tokens required for being at a certain level, you will be downgraded.

If your balance falls below 10 MTXLT then you will no longer qualify for the Club. For example, let’s assume you’ve got 10 MTXLT and stake them for 3 months. If you withdraw or sell 1 MTXLT, your balance would fall below 10 MTXLT and you will then automatically be removed from the program and not receive any rewards. As the Club is an exclusive offering there is no chance to re-enter the club if this occurs.

Example: Gold Member

As an example, let’s assume you are a Gold member with 100 MTXLT and you stake your tokens for 3 months. If you withdraw or sell 1 MTXLT, your balance would fall below 100 MTXLT and, with 99 MTXLT, you would fall back to the Silver level and would not have the chance to re-enter at the Gold level. Also, the reward percentage would be applied to 99 MTXLT instead of 100 MTXLT.

Hodlers Club FAQs

In this chapter, we want to answer some frequently asked questions.

What if I Sell or Withdraw some Tokens?

If your supply lowers, the percentage will only apply to the new lower balance. For example, if you own 15 MTXLT but then sell 5 MTXLT at month 5 of the staking period, you will only get the rewards for 10 MTXLT, so 0.25 MTXLT, after 6 months.

Note: The snapshot dates above are milestones for earning the respective percentage rewards. In order to receive these rewards, Club members must maintain the minimum number of MTXLT for the entire period. A Club member cannot reduce their holdings below the minimum then increase them right before the snapshot date and expect to receive the reward. This applies to any, and all, days that the tokens are staked for.

Can I top up my Balance?

You can always top up the balance you would like to stake, so long as this happens before the initial snapshot date (13th of October).

Do I receive Compound Interest?

No, only the balance at the initial snapshot date has the return applied to it.

Where can I check my Hodlers Club Status?

We will add all the information about your Hodlers Club status to the Tixl account page.

Are there any additional benefits?

Yes, there will be a private Telegram group exclusive to Members of the Hodlers Club.

What about the Token Swap?

You cannot swap your tokens to the Tixl Mainnet as long as you are staking them.

When will the Founders be allowed to sell their Tokens?

We, as the founders, are not allowed to sell our tokens until June of 2021, 24 months after Token Generation Event (TGE). Even then, we are only allowed to sell 1% of our holdings each month. Even if we do decide to sell some tokens it wouldn’t make sense to sell large amounts as that would adversely affect the market price, which would hurt us as token holders going forward.

Do I have to actively join the Club?

Yes, you must join the club through the Tixl account page by accepting its terms and conditions. The corresponding section will go live on the account page soon. You will not have to agree on a certain Hodling time when joining the club.

Will there be an Overview of the Hodling Stats?

Yes, we will bring an overview page dedicated to the Hodlers Club online soon.

Can I jump off anytime?

Yes

When will the rewards be distributed?

The rewards will be paid out after the corresponding 6, 12, 18, 24 or 36-month periods. The payout will be conducted in 20% portions divided over the 5 months following the milestone periods. For example, if you qualify to receive a reward of 10 MTXLT after 6 months, you would get 2 MTXLT each month over 5 months following the 6-month period.

The approach of paying the 20% reward distributions each month over the 5 months will be the same for all levels. The reason behind that is market protection. If we paid out the full amount of the rewards earned straight after a hodling period we would have too many tokens entering the market. By chunking them, we can limit the new supply and limit the risk of adversely affecting the price. This is healthier for the market and is in the interests of all of us as investors. If an investor wants to sell their tokens right after reaching a hodling milestone then they will still receive their reward payouts over the next 5 months.

Will the Reward Tokens I receive be subject to Tax?

With any investment, it’s important to consider the tax implications. Every country has different tax structures, and applies them in their own ways to the gains you make on any type of investment. Any gains you make from investing in Tixl (and cryptocurrency in general) will be subject to the tax regime specific to the country you live in.

We’re here to make Tixl the best it can be and, as a result, the plan is to see its value grow so that every investor benefits. What we cannot do is take care of the tax that investors are subject to. We wanted to remind everyone that it is their own responsibility to take care of any, and all, tax implications that come from their investment in Tixl.

tixlcurrency

Tixl is tomorrow’s cryptocurrency.  —  https://www.tixl.me

Sebastian Gronewold

Written by

Co-Founder & Managing Partner @Tixl @elbstack

tixlcurrency

Tixl is tomorrow’s cryptocurrency.  —  https://www.tixl.me

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