What’s new, Scooby?
During the last weeks and couple months, we have been working really hard to release new features and attract new investors to the community, from marketing to internal informational assets for investors. This is a brief breakdown of some of the basics on which Scooby exists and how it has been evolving for the past couple months.
It is no secret for anybody, the crypto market has been going through a rough patch for the past months. The altcoin ecosystem, in consequence, receives the most notable strikes. Not only as a consequence of the different blockchains fluctuations and of course Bitcoin, but especially on the BSC sphere from the overabundance of pump’n’dump projects, rugpulls and whale manipulation. Scooby Finance (SBD) was no exception to this market fall, so to rise again along the long time investors, attract new ones and keeping in mind the priority of the project, which is to empower the community and give small and medium investors a real chance of financial growth, the strategies and management of the project had to be reoriented.
During the end of May, the mechanisms of engagement, development and management of Scooby began steering towards a sustainability that could thrive during global market lows for short, middle and long term investors, away from the pumps and dumps that are so common nowadays. Scooby prides itself on being both a reflection and a rewards token that doesn’t make investors have to lock their investment for a long time or to need an insane pump in order to make their investment back, not only that, but we also take pride on having a contract that calculates the rewards and reflection given to each holder based on the percentage of tokens they hold. Also, in the same vein of giving real opportunities to small holders, the global rewards are released when they reach a minimum value so as to distribute to as many and small holders as possible without losing big amounts to small transaction fees, no minimum amount required to buy. The anti-whale mechanisms, too, prevent to a large degree the big whales and snipe-bots from manipulating the value and hurting the investors. The altcoin market in which Scooby exists is an ever changing environment in which systems and ideas evolve every day, so to drive a serious project they have to be constantly studied. That was the first thing the team did before going forward with the most popular steps to pump a project, we asked ourselves “will this be sustainable in the long run or just a momentary pump… hopium?” then “how could this mechanism be implemented in a sustainable way?”.
The first and most recurrent idea on the low and medium capitalisation projects is token burning, which was first developed as a deflationary measure adding value to the circulating tokens. However, we gathered that so many projects burn massive amounts of tokens in short periods of time especially during dips as a way to keep the interest of their holders alive without bringing much new value either to their holders, traders or the market itself, just as an artificial deflationary measure. This is not a sustainable way of advancing, particularly if there is no use case in the token because the quantity originally minted is finite, that, in turn, will make the holders not get much value on the long term and also not be attractive to new investors who may not be able to have a participation as achievable as previous holders. This is why we have been developing numerous ways to burn tokens in a way that will add real value to older and new holders, some as bigger events and some as continuous small burns. The most immediate will be through the new feature called “Scooby Prize”, a lottery which will be accessible through our recently upgraded dashboard.
Due to the hard times that the market has been going through, the launchpad -which is the main use case feature for the token- had to be delayed to be delivered with much more care and insight, bringing a differentiated approach to other launchpads and offering benefits that help grow these projects, the investors’ holdings and Scooby itself. The objective is once again to empower the community and deliver as many investors as possible, no matter the size of their investment, an opportunity to have an impactful participation. Giving small investors participation that would otherwise be neglected and big investors the opportunity to sustainably grow their share with the option of internal diversification.
More detailed insight on the latest work done will be given on future articles specifying new features such as the Scooby Prize, the implementation of internal transactions and a PancakeSwap router in our official site to prevent scams and confusion, the upgrade of the website, roadmap and dashboard, the launchpad and much more.
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