hello world! 👋 we hope you are enjoying $SPY

A brief on the attempt with $SPY

$SPY holders can claim their tax rewards here: etherscan.io/address/0xc993… Connect your wallet and hit write. Anyone could potentially setup a basic UI for this as well. Simple to implement.

Uniswap V2 does not allow projects to claim fees. Uniswap V3 glitches Fees and Rebase Tokens. Custom $SPY liq locker is to 6 months with a 1% fee withdrawal possible every 24 hours. etherscan.io/address/0x0e9e…

It is noteworthy that the Uniswap LP Token contract can just as easily incorporate a failsafe to prevent withdrawals or transfers within a certain period to safeguard investors but odd enough they have not upgraded to this standard yet. Perhaps this is something to consider.

$SPY holders can note that the Lock Tokens function allows for locking the LP Tokens for the Initialized Timestamp here - set to 6 months: etherscan.io/tx/0x8913f77fe… The Unlock function allows for easy removal at the end of the Tenure.

Maybe its time for iearn V2 Andre Cronje

Appreciate the notes received on $SPY. Love how so many are thinking out of the box! All great ideas! Will respond to all in due course.

Today we will talk a bit more about Reward Claims on tax tokens and how Project Teams can materially benefit from partnering with the holders to create a positive user story through the token lifecycle.

Suggestions to setup a website dedicated to $SPY and updating Dextools, Coingecko and CMC have been well consumed. Work has begun on the same to quickly tick the boxes. Appreciate the support.

The implementation of hyper-deflationary transaction tax has seen 4%+ of $SPY supply permanently wiped in a matter of 24 hours. on the flip side, the Fee Contract has grown to a size of 2.75% $SPY supply made available for holders to claim. etherscan.io/address/0xc993…

Hodlers, observers, project teams may kindly take note that this is after more than half a million dollars of sell volume absorbed since launch. Simple #Defi can meet #Meme halfway, shake hands, coexist and even flourish. $SPY will attempt to do more to make it happen quicker.

The community has kindly created a token specific website ispy.in.net Additionally a community TG to discuss the $SPY experiment: t.me/iSpycommunity Dextools has been updated. CoinGecko and CoinMarketCap have been applied for on request.

Why $SPY uses Claimable Fees for holders? a. Prevents additional sell pressure on your charts avoiding the need to liquidate the fees b. Prevents wastage of additional gas to redistribute c. Keeps your holders engaged looking for some activity building game theory excitement.

Here's an idea. How about we use the 1% claimable LP Fees to: a. Burn the pulled $SPY Tokens b. Send the ETH to a contract that allows holders to stake $SPY to earn ETH? Or Burn to Earn? Another useful implementation of available #Defi mechanics meets #Meme

The #Defi landscape sports a different shade with onset of multiple options in the space on an hourly basis in the form of metas. A token like $SPY seems to find itself ahead of its time, or sitting at the incorrect table, or a mixture of both. Evolution is a boon and a bane.

Having taken into account the consideration of $SPY holder feedback, a decision has been made to leave the LP Fees as it is to provide for interim stability and not rock the boat further as seen with the mini panic created as a result of the quoted.

We continue to work on some ideas that could enhance the usability of $SPY in the space. Widespread adoption as we figured would be, has been minimal, leading to a lack of growth in price and holders. The strength of the contract however remains visible in its clear mechanics.

Sharing the first draft of The ZK Credo — a declaration of the foundational principles for the emerging ZK-powered Internet of Value. v1 is now live on GitHub for community discussion and feedback from the Credo's rightful owner: You! 👇 1/6 github.com/zksync/credo