Drifting slowly through space, Fib Newton, asleep in the captain’s chair of the Suites vessel. A cigarette, still burning, hangs limply from his mouth. The overwhelming peacefulness of space pervades all. Outside the viewport a nearby galaxy sits in a frozen explosion of color.
Dreaming, Fib imagines a song beginning to emerge out of all the small sounds that surround him… yet as it pieces itself together its ambiguity fades and the coherence of the song is undeniable – it drifts across the airspace of the command deck, seemingly as real as the smoke hanging in the rafters.
The soft ping of an incoming transmission remains ignored, the vessel’s computer system diverts the transmission to voicemail. Inside the cabin the smoke has begun to dance in strange marriage with the sound waves. Outside, a fleet of Meta spacecraft carrying Mark Zuckerburg’s clone army warp through – only parsecs away – their radar failing to register the drifting Suites vessel for anything other than signal noise.
That voicemail – matriculating through the Suites vessels computer systems, ignored for another 3 earth days of hallucinatory half-sleep by Fib, brought on by the siren-like serenade sent from the depths of space and eventually broken through ONLY by denying all that seems real…
MASSIVE TOKEN UPDATE
There’s been a massive shift in token flow… As you know, our $SUITE token has been steadily stacked up by stakers for about a month. The pool, our first experimental staking pool, is coming to a close in TWO EARTH DAYS (read: September 30th).
HOWEVER, excitingly, the next pool will occur IN LINE with the current one – meaning that, first of all, there is NO NEED TO UNSTAKE. All that will change will be how much token our holders will be receiving per day, per Suite tier.
Let’s outline that now.
The token yield will now more accurately reflect the supply and value of each tier of Suite.
- The bonuses, formerly 1x/2x/3x will now be 1x/10x/100x.
- 1x yield for a club style Suite will now yield 176 $SUITE / day
- Exec = 1,760 $SUITE/day
- Owner = 17,600 $SUITE/day
So, we’ve increased our emissions by a LOT. Why? Well this change coincides with a HUGE decision we’ve made to change up our tokenomics to more accurately reflect our vision for The Suites.
First off, the TOTAL ALLOCATION for Suites staking is now set at 133,333,333 (or 30% of the total supply of $SUITE). This will be the only circulating supply until we begin to *ahem* make a few more GAME CHANGING moves and implementations….
What this means is that the rest of the supply will be LOCKED UP until we integrate it into mechanics we have yet to reveal. However the token supply allocations no longer reflect the traditional “team”, “treasury”, “operations” schema.
Secondly, that 133,333,333 will be broken into THREE “mining” periods. What does this mean?
- After 44,444,444 $SUITE tokens are mined, the rate at which holders receive $SUITE will be CUT IN HALF.
- E.x. The Club yield of 176/day halves and becomes 88/day… then 44/day at the next halving.
This means we are looking to reward our holders for their EARLY conviction as we continue to build out the Suites to be the web 3 sports powerhouse we KNOW it will become.
Lastly, a few of our holders may have noticed a MASSIVE yield on their latest staking rewards, while others may have no idea what we’re referencing… This is due to us increasing the staking multipliers in the same pool (so you didn’t have to un-stake).
- If you did NOT claim your rewards before we updated the pool with increased yield, the yield you will be able to claim was ADJUSTED as if you’d been earning the increased yield the whole time – this would mean you probably have a MASSIVE amount of $SUITE tokens waiting to be claimed
- If you DID claim your rewards before we updated the pool, you will have missed the “back-pay” of those that still had rewards pending during the carryover.
IF YOU ARE IN THE SECOND CATEGORY, FEAR NOT!
We will be correcting this MANUALLY, by sending those who missed out on this *generous* mistake the difference in $SUITE tokens. More updates on this will be coming soon.
See you soon!
-Fib Newton, CM