The Bridge Toll is a mechanism that incurs fee which is burned in the form of the ADD.xyz token. In order for seed round investors to liquidate on open exchanges, they will be charged a transfer fee of up to 55%, reducing down over nine months. This fee in the token of our native token will be burned permanently.
The Bridge Toll can be best described as a dynamic lock-up mechanism. If a holder wishes to transfer tokens, they will need to pay a percentage fee for doing so. All fees generated result in tokens being burned. This mechanism is a proxy for the tradition lock-up of tokens, but enables 100% liquidity at the discretion of the token holder.
For ADD.xyz, bonded contracts will hold illiquid tokens; these tokens can be made liquid (i.e. tradeable) by crossing the bridge toll and paying a fee schedule in tokens, which will be burnt for good. The result of this action results in a reduction in the total circulating supply and discourages token holders to hold the tokens.
After nine months, the bridge toll will cease to operate, and seed investors will be free to cross the contracts without penalty, we believe this is fair, and also gives ADD.xyz a fair advantage of a nine month run-way to provide evidence and examples of adoption by enterprises that want to use ours tools to integrate and enable their businesses in expanding into new markets.
Bonded to unbonded: There is a dynamic fee using the bridge toll model. This is primarily to prevent dumping and increase community incentivisation and participation, adoption of the enterprise products etc.
For instance, seed investors have the option to cross the bridge with a first month fee of 55% of the tokens transferred that decreases by 20% each month over a period of 9 months. The fees will be calculated and processed by the smart contract automatically and burned by sending to a 0x0 address. While the bridge is drawn down, the burned fees will be taken out of the total supply resulting in an every decreasing total token supply.
Unbonded to bonded: There is a static fee of X tokens which is paid to the validator nodes within the network.
A bridge toll will be present for the first 9 months from launch. Seed investors will have to pay a bridge toll in order to trade and sell. By implementing the bridge toll model, we deter initial liquidations on exchanges as bridge fees are to be paid, especially in the early beginnings of the launch. Why is this fair? The bridge toll is offset by a lower token price given to our seed investors. An equilibrium of fairness is reached and determined by market forces.
Additionally, a price equilibrium is achieved between the seed and the private round, whereby seed investors cannot abuse the price advantage. Lastly, a price floor can be achieved with the private terms and assist the project with reduced price volatility.
New Alternative Process for Seed Round Participants to Claim Tokens
We’re providing an alternative method for seed participants to claim tokens directly from etherscan using their whitelisted address.
The process is simple and should be used in the event that there is some instability in our platform due to the incompatibility of wallets & browsers that some users might face. This can also be used in the event that you are having issues with Metamask and the token claiming process.
Smart Contract Address: 0x9fbfed658919a896b5dc7b00456ce22d780f9b65 (PLT)
How to Read your Balance
Step 1: Navigate to our smart contract address on etherscan here: TBA
Step 2: Go to Function 25 ‘SeedWhitelist’ Enter your whitelisted address and Query, the response will show your balance
Claiming your Balance
Step 1: Navigate to our smart contract address on etherscan here: TBA Step 2: Go to Function 8 ‘Claim Seed Tokens’.
Enter the amount of tokens you wish to claim
IMPORTANT: Then add eighteen (18) zero’s. For example
Withdrawing 50 tokens would look like this
Then submit and confirm the transaction with your Meta Mask. If you are a seed investor, the relevant bridge fee will apply.
Review the transaction confirmation to check that the tokens that are taken out as bridge fee will be sent to a 0x0 address (burn); the rest will be sent to your whitelisted wallet.