In our previous blog post we posted a mock-up sketch of the token UI. We would like to clarify that this was concept art from one previous avenue we were exploring. With regards to this area of the project, we have made significant progress on something that is currently un-announced.
There has been some discussion in the community and the NFT space in general about the merits of a token and we just want to say that the development we have made addresses these concerns and we look forward to announcing this exciting aspect the project soon. As with the $YUM token mechanics, the time you have held your fox for (and some other stats) determine how you access new features of the project.
We’ve essentially been working on a way to deliver all the value of a token to our community without the downsides and pitfalls that so many tokens suffer from. For the vast majority of projects a token doesn’t offer value to its holders in a way they can directly convert to liquidity. It does however still suffer from hyper-inflation, a constant need to remove supply and find utility for it. The primary goal of a token is to reward holders to varying degrees based on the length of time a token has been held and how many the holder has. We think there is a better, cooler and more interesting way for this to be implemented. This is what we have been working on and we will be sharing this with you soon.
We will still be incorporating the $YUM token into the Fox Fam ecosystem but our new mechanics facilitate an alternative method that will be in place sooner. $YUM aims to play a more specific function in a forth coming role, specifically in-game.
We don't focus on market fluctuations too much but the team does strive to facilitate long term upwards trends. We believe that if we create a great product then the data will reflect that. Some of our new mechanics may effect some things in this regard. Considering we have no staking mechanics we do have a relatively low number of Foxes listed (just 652 on this day). We do not have plans to introduce traditional staking mechanics but, rumour has it, our next release may have a similar a effect along with other interesting implications.
We’re sorry we cant give you more, exact detail on what this aspect of the project is just yet, but we can say this deliverable is next in-line to launch and we think its worth the wait!..
Estimated progress ███████▒▒▒