0x819e8ca8…da03sent to0x50275e0b…e836·#18,693,539·0x0263f18e…70a4f4
Tree ($TREE) will launch on December 8, 2023 14:00 UTC as a utility token to purchase subscriptions on Tree News. A new subscription tier that lets users unlock all advantages that only TreeNFT holders could get until now will also be introduced. At the same time, 45% of all tokens will go to a treasury governed by the 100 TreeNFT holders (referred to as “the DAO”) and managed by a multisig controlled by a subset of those NFT holders. This treasury will be governed by the DAO and used for a wide range of purposes, including awarding members who alert other members of beneficial news, or who provide valuable scraping information, among others. Each NFT has a voting weight of 1 for proposals, and each proposal may be vetoed by Tree Of Alpha if it is deemed harmful to the long-term prosperity of the project. After a vote is passed, the subset of NFT holders who act as signers for the treasury multisig need to initiate, and approve, the transaction with a majority. The cost of the new subscription tier will be a fixed amount of tokens, agreed-upon on launch by the DAO. This cost may be changed by the DAO in the future to ensure reasonable access to subscriptions. It is recommended the cost be changed no more than once per month, barring unforeseen circumstances. --Token Supply-- Tree ($TREE) total supply is 200,000,000 tokens. The entire supply is unlocked on day one. There will be no lockup, no vesting, no staking, no burn mechanism and no scheduled buybacks. The token is paid as a subscription fee to the treasury multisig. The treasury supply should be considered, for all purposes, unlocked and circulating, since the DAO can choose to spend the tokens after a majority vote among NFT holders. The supply is split as follows: ● 50% (100,000,000 tokens) airdropped to Tree News users. ● 45% (90,000,000 tokens) for the treasury. ● 5% (10,000,000 tokens) to Tree Of Alpha, part of which will be used as Liquidity Provision on Uniswap on the TREE-ETH liquidity pool. --Token Airdrop-- The 100,000,000 tokens reserved for the airdrop will be distributed as follows: ● 70% (70,000,000 tokens) to NFT holders. ● 15% (15,000,000 tokens) to members who subscribed at least once before. ● 15% (15,000,000 tokens) to people with unspent referral credits. For all three criteria, the snapshot was taken on December 1st, 2023 at 14:00 UTC. The token claim will start on December 8, 2023 14:00 UTC. All members with valid credentials and whitelisted addresses will be able to claim their portion of the airdrop at that date.