October 26th was an excellent day for ArtWallet and Hacken Foundation. One of the most significant launches in the history of IDOs, showing over 100x of 1ART price appreciation over a few minutes. Over 50 million of daily trading volume on PancakeSwap, Yoshi, and Spooky. The ArtWallet project was one of the most discussable ones around the Crypto & NFT communities.
However, a successful launch creates new challenges. Today we announce an update in the tokenomics that ensures sustainable growth of ArtWallet and 1ART.
The hype around the ArtWallet was huge among the NFT, Fantom, and many other communities. However, according to the ToxicList investigation, over 70% of private investors who participated in Round A & B have flipped their tokens entirely during 3 days after IDO.
It is ok to fix the return of initial investment with reasonable profit the first week of trading. However, it is not acceptable to dump 100% on the first day since it ruins the trust between the project’s team, community, and new investors, creating barriers for future project development.
The complete document of the ToxicList manifesto published in summer 2021 and appropriately distributed among private investors can be found here. You can check the results of the ToxicList investigation for ArtWallet here: https://toxiclist.io/artwallet.html
As one can see from the results, flippers sold a significant amount of 1ART, dumping its price consequently.
We believe this is not how the relationship between the early investors and the project should work. To set up the rules for future cooperation, we are announcing the 1ART United.
1ART United Establishment
To protect the project and set the new Standard for investments in the crypto industry, we are establishing the new 1ART United, which consists of the Private Rounds Investors who are willing to support the project in the long run.
The goal of the 1ART United is to make ArtWallet the Top Industry Project setting the same Rules for All Participants
Who can participate in the 1ART United?
All private investors who have the allocation can participate in the 1ART United. All participants will have the same rules and the same opportunities. The main goal is to combine the efforts to make ArtWallet a Top industry project.
How to participate in the 1ART United?
To participate in the 1ART United, you need to fill out the form: https://forms.gle/4wYnKDNnYJUJ5zqZ9 .
We are collecting the requests until November 26th. All private sale investors will be notified. After filling out the form you will be informed about your further participation.
Are flippers allowed to participate in the 1ART United?
- Yes. However, as a condition to participating in the 1ART United, you need to show that you are ready to support the project in the long term.
- If you have found your address in the ToxicList, we kindly ask you to buy back 40% of the earlier flipped tokens and lock them in the liquidity pair 1ART/BNB on Pancakeswap. The LP tokens should be locked at Unicrypt for 1 year. Please, feel free to check the guide on how to lock the LP tokes on Unicrypt: https://docs.unicrypt.network/liquidity-lockers/audit-report/how-to-lock
- As soon as the liquidity is locked and the Form is filled out, you will be automatically removed from the ToxicList and be able to join the 1ART United.
How will the 1ART United work?
After collecting all applications 1ART United will be immediately established. As a result, all applicants will be added to one chat and join the strategy discussions.
A few rules will be set up:
- No new tokens will be minted until April 26th, 2022. For all rounds, the cliff will be set up for 6 months starting from the day of TGE. This will give an additional boost to the community and the project itself. The total supply will be kept on 100,000,000 1ART tokens till April 26th, 2022.
- After April 26th, all private investors will be able to claim their tokens. The vesting will also start from that date. The same vesting schedule will be implemented as it was released in the tokenomics https://art-wallet.medium.com/total-supply-is-back-to-100-mln-the-ido-is-restructured-and-hosted-by-multiple-platforms-667e715c377c.
- Rules for selling and a unique dashboard will be set up. The changes will affect Round A and Round B investors.
- All 1ART United participants will be obligated to support the project with advice, marketing, partnerships, and other activities.
Is there an option not to participate in the 1ART United?
Yes, there is such an option. If you don’t want to participate in the 1ART United, the allocation will be returned at full capacity. In order not to participate, please, indicate it in the form. We are collecting the requests until November 26th. All private sale investors will be notified.
If the form is not filled out until November 26th, all allocations for those who didn’t fill out the form will be returned at full capacity, and their SAFT will be canceled according to its paragraph “#3 CANCELLATION”.
If you don’t want to participate in the 1ART United, please, indicate it in the Form. Your allocation will be returned fully.
This step is crucial for ArtWallet to build a sustainable project and make it a top niche product. This is the first step for the DAO establishment of the 1ART United.
For any questions regarding 1ART United please contact us here: Investments@artwallet.co