Adieu UniDexGas, Welcome MSGT — Most Sustainable Gas Token
Dear UNDGers,
UNDG is called the ‘gold standard’ gas cashback token among others because of the 99.9% uptime and consistency. Many of you asked us to launch new gas token so you would benefit from gas farming. We made our stand clear at that time that we were not interested in launching a new token that would dilute the value of UNDG but we were always open to improvements. We were also not interested in any stealthy, scammy launches :-)
UNDG was only second to the market but it shook the dynamics of the gas cashback tokens market. Immediately after our release, the marketcap was increased multifold. Many copycats and proxy tokens from the same team have appeared. We are proud to say that only UNDG works as it should. There are issues with rewards with other tokens while we are consistently sending out rewards once every 24 hours. So far, we have sent out 4,902.90 UNDG (7 million USD worth at ATH) as rewards.
People started to use multiple gas cashback tokens (aka gas farming) to ‘profit from gas.’ However, this diluted the volume for all gas cashback tokens. All these gas cashback tokens depend on the volume to fill their rewards wallet. We have never supported gas farming from the beginning as it would mean the tokens are stealing volume from each other and ‘committing suicide.’
It is in our best interest to relaunch UNDG with new features that would address these factors and provide you with features that would make it the best gas cashback token ever.
As such, a new ICO is planned, details of which will be announced shortly.
Existing UNDG will swap for the new token with a floor value of $150 per UNDG with a 10% bonus. A snapshot is taken just before this announcement at blockheight 12437738 (May-15–2021 07:53:45 AM +UTC). Only the wallets and only the amounts found in the snapshot will be eligible for the swap to the new token. We will make swap URL available in the coming days (yes, before the launch of the new platform and Uniswap listing). There may or may not be another swap for those wallets and amounts not found in the snapshot but this will not be $ value protected and will lack bonus. So, we request all of you to stop transacting UNDG in Uniswap from now on. The Unclaimed UNDG value in your dashboard will be included in the snapshot, so there is no need to rush and claim it. Even if you claim, it will have the same effect for swapping to the new token, hence it may be better to leave it as is. As such, consider UNDG service has come to a halt and there won’t be rewards posted anymore.
Few important features of the new token:
- Gas farming integrated. Earn multiples on cashbacks if you are not gas farming otherwise (aka do not hold other gas tokens). (Live) Yes, it is time for you to dump your other gas tokens!! There will be a minimal hold requirement (possibly 1–2 ETH worth as per current market) for this feature.
- Multichain cashbacks. ETH, BSC, Bitcoin networks. (ETH and BSC Live. Bitcoin network later)
- Multiwallet cashbacks — attach your sub wallets (Live) There will be a minimal hold requirement (possibly 1–2 ETH worth as per current market) for this feature.
- A reward wallet that will never go dry even theoretically (that’s why we chose to call it MSGT — Most Sustainable Gas Token) as we are not depending on volume (Live) How this is being done will be explained in the whitepaper just before ICO.
- RFI like rewards mechanism for holders via percentage tax redistribution (Later). Your wallet will swell passively.
- Monthly cap cashbacks via staking (minimal stake requirement possibly 3–4 ETH worth as per current market) and at the same time earn daily cashback if you are not gas farming otherwise (Later)
- Safemoon Auto LP injection via percentage tax reinjection (Later) This will keep strengthening the liquidity and balance the sell pressure.
- Burn mechanism (Live) More details later.
- All numbers are flexible in the contract, so we can decide how many X cashbacks we want to give, how much percentage we want to tax, etc., as per the dynamics of the market. Ready to lead, rule and sustain.
- As you can see, MSGT will benefit you more if you are not holding any other gas cashback tokens.
We will let you know the final tokenomics on the ICO day, but we are preparing to have a circulating marketcap of 3.9m$ at launch including the tokens that will be swapped (around 1m$). We have estimated that the initials will be back in 17 days for the ICO investor if the price stays stable.
Tentative timeline of events:
Announcement of new token — Today, May 15, 2021
Stopping of UNDG service — Yesterday, May 14, 2021. Yesterday’s was the last rewards posting.
Gleam Whitelisting contest — Today, May 15, 2021, after this announcement until May 17, 2021
Marketing start — Today, May 15, 2021
Big promotion — May 16, 2021 through May 20, 2021
ICO sale 1 for the Whitelist winners — May 17, 2021 (40% allocation at 10% discount)
ICO sale 2 for others — May 17, 2021 (60% allocation at 5% discount)
There may or may not be other special allocations like community flash sale/Pools (details not final at this point. If so, then the allocation percentages might change)
Swap of UNDG (before snapshot holders and amounts only) to MSGT — May 18, 2021
Uniswap listing and platform start — May 19, 2021
Thank you for your continued support as always! Let’s make ‘Profit on Gas’ with this well thought after, much-needed product!!
— UNDG team
Inquiries @BitCoinly
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