Digital Dollar Store Transparency Report
It has been slightly over one month since our TGE. For months leading up to the launch and throughout this timeframe, we have worked — and continue to work — tirelessly for our community in order to build and improve on what we know will be a revolutionary product and ecosystem.
At this stage, we would like to directly address the recent events which have taken place over the past few days. Unfortunately, a third party who has a large following has caused a tremendous amount of unjustified fear, uncertainty and doubt regarding the token-economics of our project as well as the integrity of our team.
Token-economics:
Our vision from day one was to reserve 200K $DDS tokens for the NFT marketplace. Moreover, it is — and has always been — our intention to utilize these tokens for the sole purpose of incentivising digital artists to create NFTs via our platform. As such, a decision was made prior to our TGE to lock 200K $DDS tokens for this purpose.
Token Unlock Schedule:
200k $DDS will be re-locked on Saturday, March 13th at 10:30pm UTC
In the interest of our community and as a means of adding additional utility to our platform, we have decided to unlock the tokens at a gradual pace according to the following schedule:
1. 50K DDS will begin to be unlocked slowly after a period of 1 month. (Reward for NFT creators.)
2. 100K DDS will begin to be unlocked slowly after a period of 3 months. (Reward for NFT creators.)
3. 50k DDS will begin to be unlocked slowly after 6 months. (Reward for NFT creators.)
NOTE: The tokens set to be unlocked for each of the three stages listed above will be unlocked in small increments and released on a gradual basis to NFT creators.
Recent events:
We have been fully transparent regarding our intentions from day one to both our community as well as the aforementioned third party. Ultimately, the third-party decided to sever ties with our community as he had ongoing concerns which could not be put to rest. While we are disappointed, we respect his decision and are nevertheless optimistic that the future will be bright.
User Interface Upgrade:
We take great pride in the fact that we engage with and listen to our community on a regular basis. Over the past week, we have decided — with the input of our community — to completely revamp the user interface of our website. As such, we made the tough but necessary decision to delay the mainnet launch by one week. We did so in the interest of our community as we feel strongly that rolling out a flawless product one week behind schedule is significantly better than pushing out an inferior product quickly. We are so proud and excited to unveil the final product to the world and we do not foresee any further delays.
Mainnet Launch:
We are thrilled to announce the release of the long-anticipated mainnet which will go live on Wednesday, March 17th at 4pm UTC. We are confident that the new user interface will be well received by our community and we believe the slight delay was definitely worth the wait.
The best is yet to come:
We have been blown away by the response of our community over the past few days and we can assure you that those who have weathered the storm will be rewarded in the coming days, weeks and months ahead. Great things are in the pipeline and as always, we will keep the community informed as events unfold.
