BURN IT ALL EDITION
Over the past year, DEXTShare has been our way of rewarding our community and the people who believed in us from the beginning. As you already know, 12 million DEXT tokens have been shared from the team itself as well as 90% of all subscriptions to the application. This has generated for the Premium holders more than 5M dollars in monthly airdrops.
This initiative has proved to be very successful and has ensured the creation of a very expert and cohesive community of traders and followers, for this, the DEXTools team would like to thank you.
However, there have also been disadvantages:
- During the last 12 months 1M more tokens have been added to the market each month. This has generated an inflation of around 15% over the total supply, but taking into account that the main pool of DEXT in Uniswap has around 6M DEXT currently, releasing more than 12M has caused a huge damage to the price of the token in this past year.
- Although it has grown in an optimal way due to the great success of the app, from the team we believe that it has been a much more limited growth than it could have been given our volume and constant buying pressure, we can easily check that DEXT vs ETH price remained constant in the last year.
It is estimated that at least 60% of the tokens distributed in DEXTShare are sold to the market. This results in significant monthly sell pressure.
More barriers to the current Model :
In the Premium community, it was decided a few months ago to incentivize token holding, reducing the Standard Tier to 1000 DEXT, which has brought greater price stability and a significant increase in holders, but has largely dismantled the forecasts for DEXTShare that had been made following the subscription pattern.
The model has continued to work due to the team’s incentives, but this has ended and DEXTShare will be reduced by almost 90% if this initiative continues.
The estimate is less than 100 usd per month per 100,000 DEXT, despite the record number of subscriptions this October 2021.
Therefore, the DEXTools team, after checking and evaluating all the options, has decided to pause DEXTShare indefinitely in favor of other options proposed by the community, with burn as the main option.
WHAT’S NEXT?
Aggregator Fees:
The part you’ve all been waiting for.
The DEXTools aggregator launched just over 3 months ago has been a complete success, generating more than 500k usd in fees and with an amazing growth in the last month, especially in the BSC part due to its low network fees. We expect to continue this growth in the coming months, with forecasts to generate at least 1M per month.
The amounts are flexible due to the fact that most of the commissions are received in tokens and can vary greatly in price from one moment to another. We will be converting to ETH, BNB or stablecoins as far as possible.
As you know we have always taken into account the benefits for our community, so we have decided that 100% of the aggregator’s profits will be used to buy and burn DEXT. The DEXT received through the aggregator as fees will also be burned.
This will, we hope, greatly increase the burning rate of DEXT and its 100% deflationary character.
Not only do we not increase inflation with that 1M from the DEXTShare but we buy into the market and burn everything received.
Our goal is to try to burn at least 5M DEXT in the first year, out of a pool of 6M and continue to incentivize our holder community to ensure price stability.
Token purchases will be random during the month, trying to maximize the benefits for the community (e.g. after a big sale) and to avoid gaming.
Note: The first month the aggregator commissions from the BSC side will be used in part to add liquidity and not just buy. Because the DEXT traffic in BSC is growing a lot, we find it necessary to increase the liquidity in PancakeSwap to ensure that our BSC holders also have enough liquidity to buy and sell DEXT comfortably with low commissions.
DEXT Force Ventures
The jewel in the crown, the Ventures model with our DEXT Force Ventures has turned out to be much more successful than expected at the beginning and has generated much more profit for our Premium Holders in just one month than the DEXTShare has in the entire past year.
Therefore we are going to incentivize, expand and put all our effort in the ventures that will be the core of the DEXT Force Premium, something we have already been doing in the past month, as you have already seen with star launches such as Dreamsquest, Decentraweb or Kusamastarter.
Ultimately our goal is to have our own Launchpad under the DEXT ecosystem. Something we hope to accomplish during the next year.
Special thanks to all Committee members that work hard to make this possible.
Fees from app subscriptions:
Even despite incentivizing the holding, there will be a remaining of DEXT fees from monthly app subscriptions. We have decided that for now a portion will be used to incentivize people who support DEXTools , including telegram admins and people who we feel deserve it for their contributions to the community.
The rest will be kept in a Community Chest and used in incentives for the community, such as contests, marketing, staking etc, for which the opinion and proposals of the DEXT Force itself will be taken into account. Ultimately it could also be burned if no agreement is reached.
The amounts that are being considered are 20% for supporters and 80% for the community chest. But this could change depending on the number of subscriptions.
For all this, DEXTools will continue to receive no profit from the DEXT token, and will continue to be financed by the ads in the app, giving all the token benefits to the community.
