We have chosen to mint all of our token requirements for the next 100 years of distribution now, so that the issuing account can be blackholed, and our community can have trust in our distribution method.
*Note: Based on community feedback, StaykX is currently proposing a Temporary Tokenomics Amendment to reduce daily token release by 50% for 3 months in order to create a smoother transition period into becoming the NFToken Stayking hub of the XRPL.
Distribution of STX Supply from our main Cold Storage Wallet will occur at the end of the month (usually the last 2-3 days), in readiness for the rewards required for the next month's Stayking pool.
This will transfer from the Cold Storage Wallet to our Distribution Wallet and then out to our designated wallets for the purposes described below. The amount distributed will be 2,740,000 STX multiplied by the amount of days in the next month.
For example, in the month of February there are 28 days, 28 x 2,740,000 is 76,720,000, for the month of February 76,720,000 would be sent to our distribution wallet to be divided from there.
To elaborate on why we have chosen to offer Over the Counter sales, we think it is important that projects have the option to reward in STX, if using a token of their own does not fit within their current tokenomics. Considering it is being used as rewards, we also believe this STX should be able to be purchased at a consistent price (OTC) rather than through the market.
We will work closely with projects to fit within their budget, as well as provide appropriate Stayking rewards to their pools over an agreed upon time period.
Any XRP that StaykX receives from these OTC purchases will go directly back into the running and development of StaykX. Costs will include Development, Running Costs (server, XRPL node, website), Business costs as well as upgrades to Marketing and Graphic Design.
Tokens will be sold via the operational and teams wallets on a drip sell mechanism, this will provide XRP for the team to pay for services from the operational wallet and salary from the Team wallet. This drip sell mechanism only sells on positive price pressure and will never market sell. This drip sell will only ever put in orders for 0.5% of the wallet holdings or less.