PolkaSyndicate New Upgrades and Updates
PolkaSyndicate reveals new upgrades and updates that introduce a better community, a better Token structure, and exchange listing plans
PolkaSyndicate introduces new reforms to ensure PSYN thrives as a strong solid platform for institutional investors, retail investors and angel investors, one where everyone can invest comfortably and make sustainable profits for years. It will be an exciting journey as well all as we watch Polkadot and the blockchain mature while reaping Parachain rewards.
The PolkaSyndicate reform will include a community relaunch program, an improved tokenomics system, and a fair launch that will even the playing field while ultimately benefiting all participants.
Since the beginning community has been core of PolkaSyndicate, defining everything we do. During our initial growth phase of building our community we have been targeted by many bots and fake community members whom have over inflated our Telegram community numbers. Our goal is to build a real thriving community with real members.
We will be creating a new Telegram group very soon, one that will only be for real members of the PolkaSyndicate community with more robust anti-bot protection.
Fair Launch Token Distribution
Over the last few months the PolkaSyndicare core team has been talking with large investors and has gathered a lot of interest in the platform. This sparked long discussions on how to best move forward with the PolkaSyndicate’s tokenomics system, one that has the ability to sustain long term growth for all different types of investors.
A key aspect to achieving this goal is to not allow whales or any one party to hold too many tokens in the beginning stages, which can scare off new investors, and potentially be destructive to the token’s growth in the event of massive sell offs, especially in early stages.
With this in mind the PolkaSyndicate team has decided to perform a fair launch on the exchange. This means no single developer, advisor or team wallet will hold a large supply of tokens, instead 90% of the entire supply will be sold to the community at launch day.
The core PolkaSyndicate team, large venture capital investors, and high networth individuals will own 0 tokens and will have to purchase tokens for the same price as everyone else to participate.
If you participated in the founder’s presale you can expect to be airdroped a much larger amount of tokens in the near future.
It is important to have the platformed launched before Polkadot is officially live therefore, the fair launch is expected to begin near the end of October and list on the first exchange.
Follow our Telegram for the official date and time announcement soon.
New Transaction Tax for Long Term Sustainable Growth
With the tokens now going to the community there will no longer be reserve tokens for the Polkadot Treasury, the Marketing Wallet, or Liquidity. These token reserves were designed to make sure the syndicate has enough funds to grow the DOT Treasury, research and market parachain companies, while maintaining a strong liquidity floor.
In order to replace and improve this model, the PolkaSyndicate team has decided to introduce a transaction tax that will tax 14% of all transactions which will allow the syndicate to constantly grow long into the future for many years.
Each transaction will be taxed 14% and the tax will be divided as follows:
8% to the DOT Treasury. This will create an ever growing DOT treasury for crowdloan rewards
2% to Liquidity. This will create an ever rising price floor for liquidity
2% to the Marketing Fund. This will create an ever growing marketing fund
2% to the Token Buybacks and Burn. This will cause the price to increase quickly
This new system will provide an ever growing DOT treasury which means more Parachain token rewards for all holders, an ever growing marketing fund to fund the research team, and an ever rising price floor to enrich syndicate token holders.
In addition there will be no large sell off of tokens from the core team, advisors, the dot treasury, or anywhere else that could suppress the price as seen in many other cryptocurrency ecosystems. This gives the PSYN token the ability to soar 50x or higher to heights much larger than before.
Buckle up your seats as we prepare for our moon mission! Be sure to follow our telegram for next step updates.
PolkaSyndicate is the first Polkadot parachain community that empowers it’s members with high quality parachain research, while letting you earn parachain rewards with ease through our unique Polkadot parachain reward system.