Hello again from The Collective! As you’re well aware, we’ve had lots and lots going on behind the scenes at Project X. This latest Medium aims to provide another peek under the hood, and to cover the details of our V2 migration and launch.
Topics:
1. Contract Updates & Rollout Plan
2. Tokenomics Updates
3. Node Creation Updates
4. FAQ
Contract Updates & Rollout Plan
Our plan and goal with the migration to V2 has centered on one major goal: simplicity for all of you. We are going to avoid extra claims, swaps, and gas fees.
What does this mean for you?
Life is easy.
Prior to launching V2 we are going to halt trading on V1, shift liquidity to V2, airdrop V2 $PXT in a 1:1 ratio to V1 $PXT held, and release the V2 contract.
Launch price for V2 will be the same as the final trade-halted value of V1, and we’re off and running.
Tokenomics Updates
Taxes & Slippage
The tokenomics of Project X has been modified and enhanced in V2 to support developments and to better align with our current and future strategies.
At a glance the following updates have been made:
1. Claim tax — 0% configurable based on market conditions
2. Buy tax — 0% configurable based on market conditions
2. Sales tax — 6–30% variable tiered structure, configurable based on market conditions
Both the sell tax and the buy tax are manually applied and configurable. The applied sales tax is to encourage node creation and to discourage selling when in choppy market conditions.
V2 will be launching with the following tax bracket structure and is subject to change:
Sell tax brackets:*
18%
Buy tax brackets:*
0%
Claim tax brackets:*
0%
TLDR: If you are selling, set the slippage to at least the sell tax bracket value.
Node Creation Updates
Node Creation
Nodes will cost 10 $PXT going forward.
Details will be updated on a as needed basis going forward
