First of all, on behalf of the entire team, we want to extend our heartfelt thanks for your support and participation in the launch of $MASKS.
The Token Generation Event (TGE) took place a week ago, and we are excited to share with you the key figures and highlights of our project.
TGE Success
We are proud to announce that our TGE was a resounding success! $MASKS was listed on Sunday, June 30th, at $0.00002.
21 billion tokens issued, of which less than 5% are currently in circulation, shared over 8500 holders, and a market cap approaching $3 million.
We have reached a significant milestone in our development.
Key Figures and Information
$MASKS is the most mentioned token on Farcaster.
On average, 50k tips are sent per day.
Our channel /masks has surpassed 36,000 subscribers and generates the most interactions on Farcaster.
We have an average of 16,000 active users, with about 5% confirmed bots. These bots have their allocations or balances removed weekly, which are then redistributed to real users.
Over 1.5 million tips have been sent since day one, representing nearly 650 million MASKS.
Holding $MASKS
As planned, starting from beginning of Airdrop Campaign 2 (August 1st), it will be compulsory to hold a minimum amount of $MASKS to send tips. We believe this method is good for the short term but not sustainable in the long term. Implementing this new solution next month would be premature, so we will take the necessary time to gradually implement it. In the medium term, it will be required to participate in the liquidity pool to send tips. This ensures that all users contribute to the $MASKS economy and the overall health of the ecosystem.
Liquidity Providers Reward Program
3.15 billion $MASKS will be distributed over the next 2 years to reward liquidity providers on the Uniswap 0.3% full-range pool. One third of this amount, or 1.05 billion $MASKS, will be distributed in the first two months!
Transparency and Funding
We believe in total transparency. The $MASKS social token has been self-funded by its founding team along with a few strategic investors who are partner communities of the project. Here is how the 15% allocated to support the development team and the overall ecosystem has been distributed:
- 5% of the total tokens were sold OTC (Over-The-Counter) and are locked for 1 year.
- 5% of the tokens are reserved for the founding team and are locked for 14 months, then released linearly at a rate of 10% per month, reaching 100% after 24 months.
- 5% of the tokens are available for project development.
Additionally, the team has locked approximately 100 million $MASKS and 4 $ETH in the initial liquidity pool via FlokiFi Locker for a minimum of 6 months.
NFT Genesis Celebration and Exclusive Benefits
We are also thrilled to announce the huge success of the first NFT from the Optimistic Masks collection. Created by the artist 8th Project to celebrate our TGE, 2778 NFTs were minted on Zora for 10,000 $MASKS. 25% of the proceeds go to the artist, while 75% were sent to a burn address. All holders of this NFT can claim an additional 2% of their balance every month for 2 years!
Each month, a limited edition NFT by an artist will be available for mint (FCFS) in $MASKS, with additional benefits.
Security and Transparency
Security and transparency are our top priorities. We have implemented robust measures to ensure this security. The various smart contracts are available at the bottom of our dApp page, along with project statistics in the "stats" section. From day one, we have maintained transparent communication with our community, and we will continue to do so.
Education and Support
To help you better understand and use $MASKS, we have created several educational resources, including tutorials available on our website. If you have any questions or encounter any issues, our team is here to help.
We encourage you to continue participating actively and to stay informed about future developments. The best is yet to come!
Thank you again for your continuous support.
