TIPS的原代币总量约为5000亿（按50:1兑换后，等同于新币100亿枚），换币后的新币的总量为1000亿（按照50：1兑换，相当于原币量扩容10倍），新币当中的10%会用于以“50 旧TIPS：1 新TIPS”的比例进行换币，10%团队预挖会用于未来的发展、市场和空投，剩余的80%将会用于社区的10年挖矿。如果进行换新币后的10%没有兑换完成，将会进行销毁新币以至于达到平衡的比例。
Q1： Where are the funds for project development from ?From pre-mine or in other method? If in other ways, how?
TIPS: There have been no funds for development up to now. For the last year, our team of 6 have worked full time as volunteers on reviving Tips (wallet rebuilds, marketing, community, hosting, etc). This was all done for free. We do intend to distribute part of the pre-mine for NEW tips to the developers (see below)
Q2: Is part of mining to be distributed to developers? if yes, how to distribute, in which way and how many coins?
-We are pre-mining 10B New Tips to cover the swap (500B -> 10B with a ratio of 50:1)
-We are pre-mining 10B New Tips for the project. The 10B project coins are broken down as:
- Airdrops/Community 2B
- Partnerships/Marketing/Listing Fees 3B
- Developers 5B
The Developers amount of 5B is for current and future development costs - we have a lot of functionality on the roadmap to build. We
have done a lot of work so far reviving Tips but it is not possible to continue running a large team with no funds at all!
It is our intention that we lock up 80% of the Developers 5B in a smart contract, similar to startup equity, to keep it secure.
Q3: How are the coins generated besides mining?
TIPS: Mining is the ONLY way to generate new Tips. Because we are CryptoNight7, mining is Desktop/CPU only, no ASIC. ALSO - the dev
team are not miners. So mining will only be for the community.
Q4: Do you have any pre-reserved coins?
TIPS: NO - there are no pre-reserved coins.
Q5：As to the 80% of the 5 B fund for development, how long will it be locked?
TIPS：Will it be release gradually? If it is , in which method will it be released. we plan to use a smart contract to lock it up for 12 months. The contract conditions will be coded to allow gradual release.
We plan for no release at all for the first 6 months. After that time, the smart contract will release gradually each month for six months. Equal amounts per month. So:First 6 months: No release; Next 6 months: 1/6 each month
The funds will be released to a multi-signature development wallet, to be paid in equal shares to all long-term members of the development team.
Q6: I also notice that there are 2 B for airdrop. How will it be used? Do you have any plan?
TIPS: Yes we do, thank you for the question. This amount is to be used over a long time (several years). It is for airdrops over 2 - 3 years, to help us grow and build the community. So it will be a slow process with very controlled releases. We also want to establish a Fedora Foundation and use the funds for donations to important charities.
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Sep. 10, 2018