2022-08-05 17:36:43
Hey GenFrens,
thank you so much for the AMA yesterday - Lamine and I really enjoyed it. And special thanks to Peer for representing the SYA OG community and taking the discussion with us! Here is a short summary of the AMA.
Quick recap:
-$SYA started as an experiment in an attempt to learn more about solidity and Web3. The tokenomics design and the decision taken last year are outdated in regard to where we stand today. We have matured, learned a lot and are now laser focused on building a powerful wallet and infrastructure company.
We feel a deep sense of responsibility towards the OG who supported us from Day 1 and thus decided last year to migrate the $SYA token into the $Flooz token. We commissioned Walderwyss , a renowned law firm in Switzerland and after months of work, our legal setup for the Flooz DAO (Non-Profit Association) is ready to go. The FINMA (Swiss regulating body) has approved $Flooz as a utility token.
Before we dive into the next steps, we would like to emphasize that we’ve spent time with experts and lawyers to draw a plan for the migration, but the details aren’t set in stone yet.
- In the current vision, we want to create a governance token with a treasury to incentivize new projects to collaborate with us / build on top of our infrastructure. For this, we will need to emit new tokens over time. Token emittance will e.g. depend on reaching goals or on a pre-defined timeline / emission schedule. Details aren’t set. This means that down the line and over the course of years, new tokens will be emitted — when and how we’ll emit tokens is yet to be decided and we encourage the entire community to contribute and provide us constructive feedback. We’re stronger together
- Everything we do is to ensure the success of Flooz in the years to come. That said, we don’t feel comfortable launching the migration in these uncertain market conditions. The economic situation is unstable (Inflation/ Recession, Energy crises, Wars, Countries going bankrupt…). We cannot control the macro-economic effects, thus we have decided to postpone the migration until the market stabilizes and everything calms down.
Lastly, as mentioned yesterday we believe in this community. Over the last months, we have seen your commitment, your talent, your smart ideas and suggestions. We encourage all of you to go outside, do research, share your knowledge and findings with us. We listen to your feedback and are always here to jump on Discord VC to discuss your concerns, thoughts and ideas. Together we are stronger. Together we are GenFrens. We got this!
430 viewssecretvm , 14:36
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