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.

Oh my, Proton is unbeatable as a feeless, layer 1 blockchain. And let's not forget, your Proton account is now linked with your Snipcoins account.

Originally, Snipcoins.com was designed to run off of the Ethereum blockchain. However, Ethereum’s infamously high gas and network fees made this not feasible. Undoubtedly, Proton’s lack of fees was the initial reason we looked at moving to its blockchain and is a significant contributor to Snipcoins.com’s overall viability.

However, there are other exciting, real benefits to Snipcoins.com’s integration with Proton.

The release of Proton’s Wallet 2.0 includes built-in KYC (know your customer) verification for all wallet holders covering 200 countries. This development provides an easy and free solution to an administrative issue for which we in truth had not yet determined a solution. As a social media platform, one challenge is to ensure the original integrity of the content produced on it. Confirming that accounts are associated with real people, limiting bots and the ability to create multiple accounts serve to enhance accountability and limit nameless content dumping. As a young project, such an administrative endeavor was prohibitively resource-consuming whether developed internally or out-sourced.

Now, all Snipcoins.com members must hold a verified Proton Wallet and, thus, all members have passed a KYC verification. What an incredible operational bonus for integrating with Proton!

Another potentially interesting benefit is the intriguing implication of Proton’s compatibility with DFINITY’s Internet Computer. The Snipcoins team particularly acknowledges the exploration in this area by the pioneering Proton-based project, FREEOS. While this has to be explored more fully internally, current assessments indicate Snipcoins.com will migrate its site’s and eventual dApp’s hosting to the Internet Computer. Of course, Proton Chain will continue to drive Snipcoins.com’s transaction system.