V2 HERE WE COME. PREPARE FOR PTLKX.
LUCKERS, LADS, LASSES, SCOUNDRELS AND DEGENS GATHER AROUND.
We began development of Potluck Protocol around September/October of 2020 and a lot has changed in Defi since then! If you are a member of our community *cough* https://t.me/PTLKCHATS *cough* then you are aware that our move to V2 pools and farms are imminent. For our holders, this will require the removal of current LP and re-adding to the V2 section of our website. Do not fret as our admins and devs will be there to guide you every step of the way and we are working on a system to make it all as painless as possible. While we are very close to being done testing (UI is finished and we are currently on testnet with pools and farms) after some discussion this has led us to another opportunity that we wish to explore and approve by our community…
What is PTLKX and why so serious?
We are jazzed. That is right, JAZZED, about a concept that we wish to also implement into PTLK. As stated above there have been many advancements in the short period of time that have launched especially in the area of coin contracts. Since we are already having to migrate LP why not take this opportunity to make PTLK the best coin it can be? That is where PTLKX comes into play.
PTLKX would be a re-minted and distributed coin to our holders (more on that in a minute) that we feel would further push trust with our team and benefit loyal holders and project lovers alike!
For starters, we have seen many coins implement an auto-liquidity feature into their projects. It is a great concept but we believe some have gotten out of hand with the built in “transaction fees”. Building a 4–10% transaction fee for liquidity into your coin ends up being excessive in our opinion. PTLKX would have a simple 0.25% transaction built in to help generate liquidity. It goes directly into our PTLKX-BNB farm.
What does this mean for our holders? It means that we will have the mint function completely removed from the new smart contract (minus the minting the pools/farms already do). But there will be no way for the team to mint anymore tokens manually once we begin. Burns will remain in place to stay deflationary as we have aimed for from the start with buybacks keeping our total under 250,000,000. On top of that with a small auto-liquidity feature our pools/farms will have NO DEPOSIT FEES.
You asked for it. PTLKX will bring it.
A lot of things changed when we launched including our original concept of tokenomics. We burnt, and burnt, and hell we burnt some more. This left us with a few wallets for operations but our community often ask “will the team lock liquidity?” With a new minting of PTLKX we can properly lock the dev’s liquidity and will lock it for 8 months via a 3rd party called Deep Lock. So far we are proud to say that our team has not spent or cashed out a single coin running solely off our initial investor’s investments and we will continue to do so with our dev liquidity locked. We want what is best for our community and our project and that is our vow to continue to do so.
So what do we do from here?
Having studied other cases similar to ours it appears the easiest solution will be to have a swap tool. PTLK holders will enter their PTLK tokens and receive a proper 1:1 swap for PTLKX. While we know this may be slightly cumbersome keep in mind this is a good opportunity to do the swap since we already are moving to V2. New coins will be pegged to the PTLK price so no worries about conversions.
The Power Is Still With The Community.
Voting for the move to PTLKX starts now. Of course our community has to be behind this change. We think it would be great for all parties involved and could help take our project to the next level but we are nothing without our community. Jump in the chat. Discuss. Vote. We will be closing the voting period Friday July 2nd at 10:00am EST.
VOTE NOW https://vote.potluckprotocol.com/
