Restructuring & Rebranding proposal
While we all have invested a lot of blood, sweat, and tears into StakeMars since June and released the first GACHA product and STU auto compound yield farming to incentivize our holders, we are now planning for the next step on our platform; GameFi.
In order to build a good GameFi we need more than just a good developer. We need a strong team to support us with a good plan for tokenomics and potential partners in the future.
This is a good opportunity to rebuild our game concept by merging with a developer team that’s interested in our project (They have connections with GuildFi, the number 1 GameFi platform in Thailand) and would like to join our team. They have some requests we would need to abide by in order to finalize a deal with them most of which have to do with revising our tokenomics. Here is our proposed restructuring and tokenomics.
Restructuring proposal
Currently our game planned to use a dual currency system with STU and STT. Upon further reflection, and discussions with our potential partner, we have concluded that a dual currency system is not necessary and it makes tokenomics difficult to balance while still pushing our market cap.
Thus, we would like to restructure by making a new token that has the following tokenomics/structure.
Seed Fund proportion will be reserved for STU holders that converted STU to the new token with a dilution ratio of around 2.015 STU : 1 new token. The calculation is as follows.
Total supply of STU is 80,000,000
Circulating supply is 40,309,508 which is calculated by taking the total supply and subtracting the conversion contract, our team owned STU tokens and the STU that is currently in our LP contract on pancake swap. (Yes, we will burn our STU team tokens in the best interest of you, the holder).
Thus the dilution ration is around 2.015 STU : 1 new token.
Moreover, we will reserve for WIRTUAL (wirtual.co) an airdrop as our strategic partner with a total of 500,000 WIRTUAL tokens to be proportionally distributed to our STU holders (They plan to list WIRTUAL at 0.3$/WIRTUAL).
Calculation to STU value is as follows.
WIRTUAL airdrop, total 500,000 WIRTUAL @ listing price $0.3
= 0.003721 USD per STU (500,000*0.3/40,309,508)
Furthermore our plan for the new token (when the game is ready to launch) we will presale the new token at $0.022 and the public sale will start at $0.024. Total raised funds will be around 750 BNB (on the conservative side).
Calculation to STU value is as follows.
The new token listing after public sale @ listing price $0.024
0.011908 USD per STU (0.024/2.015)
Total expected value is 0.015629 USD per STU which is about 3–4 times lower than our current price. For this reason it makes sense to use this as a portion of our seed fund for a project (Seed fund/private sale price usually are lower than public presale price around 3–4 times.)
After this proposal passes, STU will be considered a seed fund for the new rebranding project, and converting STM to STU will be terminated to keep the current dilution ratio.
Rebranding
To merge with a developer team one of their requests is that we rebrand our project. We feel that rebranding is necessary for our long term success. StakeMars was a good start but it’s time to rebrand and build around GameFi.
We believe a fresh start, new branding, new logos, a fresh new UI, and a new game plan would allow for the best chance of success.
New project model
Many successful GameFi’s use a single token concept instead of dual currencies in their game such as Cryptomines. So, we got an idea to use Oracle price in our Game for buying and rewarding the players. We can control the demand and supply of the token from the game treasury and it will also make it more attractive for new players to enter the game since our ROI will be stable.
The new team we are looking to join has connections with other teams like GuildFi. It is for this reason that we believe we will find better partners and investors for our project in the long term if we follow this proposal.
Voting
Since this is a major change for our token, we decided to make it a DAO decision by voting with your STU (after the voting ends, you can withdraw your STU back to your wallet).
Voting for this proposal will commence on Tuesday, November 16th, at 1AM UTC and end on Monday, November 29th at 4PM UTC (BSC Block #13076000).
Vote here : https://stakemars.com/vote
Timeline
If passed, we intend to move very quickly with this process and launch a closed beta for the game within the next 2–3 months.
The first-second month would allow users time to burn their current tokens to receive new tokens. (There will be a certain timeframe for people to convert STU to the new token and that timeframe will end before the new token is launched).
We will continue to keep the community up to date and will have our weekly updates in the chat as usual.
*This is not financial advice.
