Update concerning our HODL dApp is over announcement


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Latest Announcement - HODL dApp is over - Update

Last night we published an announcement concerning our HODL dApp being over & that we intended to airdrop your purchased SATURN tokens almost immediately. However, after taking a second look and discussing it internally we made a decision to stick to the original promise of our HODL program & have since updated our announcement:

HODL Program’s rules:

  1. A 10% bonus with a 12 weeks lock-up.
  2. A 25% bonus with a 24 weeks lock-up.
  3. A 50% bonus with a 52 weeks lock-up.

These are the original rules of our HODL dApp and they will not be changed. The main concern raised was that if we were to change the rules, to distribute all the locked tokens via airdrop, why would anyone trust any future implementations of our HODL dApp? Bonuses were granted under assumption that “HODL” is equivalent of “Proof Of Work”, providing bonuses without “labour” questions the work of people who waited patiently.

Philosophy & Reasoning

One of the core arguments is that early investors had been following our project and providing us with support since day one, as a result, they had been able to buy into the HODL dApp almost immediately.

We can’t argue that they could have made different decisions in regards to amounts if they knew the rules concerning tokens being locked up would change when we launched onto Ethereum. This is something we have decided to take into consideration, as without some of our early investors, we never would have made it to the point we are today.

Immediately releasing locked up tokens, would create a conflict between early investors and people who discovered our project only recently therefore it would be unfair to go against previous agreements. At the end of the day, both parties received their bonus and are eligible to receive dividends.

Furthermore, we cannot forget that a large part of our community follows our project because:

Code Is the Law.

We have decided to uphold this statement as we can not violate core philosophical principles. Your tokens are cryptographically locked up in the strategic investor program smart contract. What this means is that nobody but you can withdraw them, and not before the expiration date. We have re-activated the redeem page on Radex, so you will be able to check your tokens & claim them once the date is reached. Even though these tokens may not be in your wallet, you are their only rightful owner and the only person who may move them out of the smart contract. That is a cryptographic guarantee.

Will my locked up tokens count towards decentralized profit sharing?

As announced, we intend to start distributing shared profits from our exchange, via our airdrop tool periodically once we are operational on Ethereum. Though your tokens are locked up in a smart contract they are still owned by yourself, therefore, will be taken into account and will increase your share of the payouts.

Symbolic SATURN Airdrop For Our Hodlers

We know it is not great to read what you may have seen as good news and then to see an announcement that reverts it. We very excited about our launch onto Ethereum and want to celebrate this milestone with you together, we are going to airdrop 1 Million SATURN tokens! These tokens will be proportionally distributed among everyone who participated in our HODL program. If you are eligible you will be able to claim these tokens via our airdrop page shortly.

Thank you for your support!

#TeamSaturn


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