Post-Launch Update
After the positive feedback from the Q & A format in our previous Medium post, we decided to continue that model for our Post-Launch Update. This will address some of the common questions being brought to the team as well as diving into some of the tokenomics for the $PAST ecosystem. As always, we will conclude with words from our CEO.
The answers below are paraphrased from communications with the core team of THE PAST PROJECT (TPP or $PAST). Quotations are used to highlight important points directly from the team.
For transparency, all items outlined below are subject to change based on market conditions and team strategy.
Question: Can you explain what The Capsule is?
Answer: The Capsule serves as both the strength and flexibility of the $PAST token ecosystem. At launch, The Capsule contains 50% of the circulating supply and will be worked down to 35% through deflationary burns. I want to break down the specifics for how it is protected (the strength) and such a malleable support system (the flexibility) driving the initiatives of TPP.
Strength:
- Assets are protected by a multi-signature wallet.
- Four members of TPP Team are fully doxxed.
- The transparency of transactions on the Ethereum network.
- With such a large portion of circulating supply, The Capsule receives a large portion of reflections.
- Certik Audited Contract Fork (Dinger/Citadel).
Flexibility:
The large amount of reflected tokens enables the team to manually interact with the $PAST ecosystem (as opposed to automated processes like contract sales, burns, etc.). These assets can be used for;
- Staking Contracts
- Deflationary Token Burns
- Giveaway Rewards or $PAST Incentives
Question: Can you explain the details of the airdrop delivered to the previous $GRIM holders?
Answer: There are three things to consider regarding the airdrop.
- The total supply of $PAST and $GRIM are the same, 1T tokens.
- $PAST has 50% of its supply contained within The Capsule. Those who held $GRIM and didn’t sell/buy after the snapshot was taken, were allotted the proportional percentage of circulating supply of $PAST BEFORE the halving of the supply into The Capsule.
- The market cap of $GRIM during the snapshot was roughly 700K USD. The market cap of $PAST at launch was roughly 700K USD.
“Since the circulating supply of $PAST is in essence halved, the proportional percentage that was airdropped is also halved. Mathematically this equates to the same proportional percentage owned in both ecosystems. But the benefit of The Capsule brings so much more deflationary dynamics and flexibility to marketing, buybacks and burns. The longer you hold, the more you benefit. This is especially true for those who were airdropped.”
Question: When will Grimutants be airdropped for those who submitted over 500M+ $GRIM and when will the NFTs be revealed?
Answer: “Soon. At this very moment that is the best answer we can give for both the airdrop and reveal. After announcing rebranding/relaunching our entire focus shifted to ironing out our pre-launch marketing strategy, contract development and all of the assets connected to the launch. Obviously now that the ignition button has been pressed, we are quickly dividing and conquering with our team to refocus on the NFT rollout, while maintaining momentum for the $PAST launch. We will follow up with much more detail regarding Grimutants, including the staking DApp development and rewards for those who minted, held and believed in the process and team.”
Question: Can you recap why the rebranding and relaunch happened?
Answer: “In short, the name was hindering the growth potential of the project from a holistic perspective. We still appreciate and cherish the GRIM meme, but our vision for the project grew beyond the limiting factor of that name. Additionally, we had to remove members of the previous team who were not willing to be doxxed or be directly involved with the community. It was simply a necessary step that benefited the community’s new direction and previous members’ intention for involvement.”
Question: What are some interactive elements the team is planning for $PAST?
Answer: “We plan on creating engagement on the blockchain through Play-to-Earn/Pay-to-Play gaming and of course continuing with our Play-to-Mint functionality. As for real-world interaction, we have some massive plans for NFT displays that the Web3 space hasn’t even been exposed to yet. Lastly, with the talent we have in the design team, you wouldn’t believe some of the beautiful limited merchandise being created. If you enjoy the design elements of TPP logos, videos and imagery, imagine wearing them!”
Question: What is the tax structure for $PAST? How long is liquidity locked?
Answer: “It is simple, 8% on buys and 8% on sales, for a round trip taxation of 16%. Whether buying or selling, 6% will go to The Treasury and 2% will go to $PAST token holder reflections. The Treasury by the way is protected by a multi-signature wallet. Liquidity for TPP has been locked for two years.”
Words from the CEO:
“What we are bringing you here at The Past Project is a billion dollar token with the backing of a doxxed development team. I guarantee you that we will continue working around the clock to fulfill this vision. Pertaining directly to the launch, on behalf of the entire TPP Team, we thank you whole-heartedly, for your patience as we prepared our contract and strategy. The market has been tumultuous of late and we knew that our community deserved a polished product they could confidently invest in.”
Below are the confirmed Social Media links, ticker, contract and other relevant information for interested investors:
Contract: 0x8a83a0de55c003a970070a8a0fa7cb24203fc13d
Ticker: $PAST
Twitter: @ThePastProject
Telegram: https://t.me/PastProjectVerify
Website: thepastproject.com
Medium: thepastproject.medium.com
