Exchange released liquidity
- 10 Billion SNIPS, which is 10% of the total SNIPS token supply. Of this allocation, 7 Billion SNIPS has been released to Alcor Exchange priced at $0.0001 USD/SNIPS. The remaining 3 Billion SNIPS is to provide swapping liquidity through Proton Swap. This initial valuation would raise $1 million to support ongoing development, operational expenses and prepare for strategic next steps.Frostic LLC’s allocation
– 10 Billion SNIPS, which is 10% of the total SNIPS token supply, with a small amount in circulation. Given the decision to forgo a traditional ICO and rather primarily airdrop SNIPS amounts equivalent to Lite membership, Frostic LLC, the entity which owns Snipcoins.com, has been assigned this allocation to raise funds on the open market to cover operational expenses, to reasonably compensate team members and freelancers, and perhaps used as consideration in any strategic alliances. Given SNIPS critical role in incentivizing content creation and Snipcoins.com’s overall success, every effort will be given to use Frostic LLC’s allocation to support SNIPS’ price.Exchange unreleased liquidity
– 10 Billion SNIPS, or an additional 10% of the overall token supply and currently in circulation. This allocation is held within the proton wallet “snipcoins” and will be released via exchange for public purchase once the current release is bought.Strategic Release
– 20 Billion SNIPS, or 20% of the overall token supply and currently not in circulation. This is where the really exciting part of Snipcoin’s growth journey really begins. Getting to the point that means Snipcoins.com has onboarded significant membership numbers which in the aggregate are creating large volumes of content. These 20 Billion SNIPS are split between the “snipsreserve” and “jervisdent” Proton Wallets. Any activity involving the Strategic Release funds will first use up the “snipsreserve” allocation before using those in the “jervisdent” account. As is easily ascertainable, the “jervisdent” account is the founder’s SNIPS allocation. Jervis Dent has committed to not using his allocation for strategic purposes until all other SNIPS allocations (not including the “snipearns” account) have been used and absorbed by the market.Community (Earnings) allocation
– 50 Billion SNIPS, or 50% of the total token supply, with part of it in circulation. This allocation is held within the “snipsearn” Proton Wallet account. It serves as the source of member earned SNIPS and giveaways of SNIPS tokens.
A critical component of Snipcoins.com’s business model is the use of the SNIPS token as a means of incentivizing the platform’s content creation. However, as a security measure, SNIPS are not rewarded directly. Instead, points are earned by posting content. Accumulated points are then converted to SNIPS at a rate set by Snipcoins. The current conversion rate is 1 SNIPS equals 10 points; points earned as follows:
● Reacting (like) to any post = 100 points
● Commenting on any post = 500 points
● Creating a new post = 5000 points
● Creating a new blog post = 10000 points
There are, however, limitations on how many points can be earned in one day. Currently, the points are capped at earning 100,000 per day with Basic membership and at 300,000 per day for those with Lite and Pro membership.
Future plans have been discussed involving additional utility for both the points earned on the Snipcoins.com platform and the SNIPS token.
Learn more details from the Snipcoins Whitepaper
Purchase $SNIPS on the Alcor exchange
at the market rate.