Pre sale Going Well and Quick Update
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This post is not finacial advice
What is DEBTGAME ?Basic overview
HSBI units: 887
The DEBTGAME pre sale is going well. All bonuses have been paid out to folks who have made their purchases. I am also working on a few private transactions with folks over the next few weeks.
As I stated in an earlier post UNICOIN, PIXYDUST, GLITTER and HSBIDAO tokens can be used for purchasing DEBTGAME and you will still receive the bonuses if you trade using these tokens. Just let me know if that is something you are interested in.
For folks who aren't interested in the HSBI bonus, you can opt for a 25% DEBTGAME token bonus.
The first official vote will be for the token supply. It will be based on a multiplier of tokens sold. there will also be a separate mint of 15% as I explained earlier. Those tokens will be used for promotional purposes including tokens going to other LP rewards and also sales if folks choose to buy after the pre sale. This is separate from the multiplier, but it will be based on tokens sold during the pre sale.
Folks will be able to choose from a multiplier of 0 to 5x. I will post more information as it gets closer. Once the multiplier is chosen and the 15% is minted and saved, all other tokens will be minted then burned. At that point we will know the true token supply and folks can use that information when casting votes on distribution and other aspects.
The distribution vote will be the second thing folks vote on. One thing about the distribution vote to keep in mind, there will be several free options. For the first vote , you will voting on staking(the most expensive option, creates the most debt) LP rewards (somewhere in the middle cost wise) and free options. During the first distribution vote, if the free option is chosen, the exact free options will be decided in a separate voting round. If either of the other two options are chosen, no need for a second vote, obviously. :)
I will be making a post soon about what will happen in the case of tie breakers but I'll give a quick summary. Basically every voting round will declare what to do in the event of a tie breaker. For example if folks are voting on a multiplier to determine the token supply and there is a tie , the number will be averaged (basically a compromise). However, in the case of distribution if there is a tie , a tie breaker round will be initiated.There will be some rounds where one of my alts will cast the tie breaker vote if necessary(for temporary decisions like delegations).
That's it for today's update. Thanks for all your support.
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I read the basic overview. But I am still not sure I quite understand this haha xD
Seems fun though!
lol. At least it seems fun. Do you have a specific question? TLDR the hodlers make decisions that will (hopefully) increase the buyback price over time (decreasing the "debt") The "debt' in this context is tokens in circulation vs HIVE assets to back the tokens/buy them back. The more earnings this account makes, the less debt it holds and the higher the buyback price will be(burns also reduce debt ). That's basically how it works. I hope that helped clarify.