Stabinol is a new cashback token developed by the Stabilize team. In our previous article, we discussed its purpose and how users will be able to claim a cashback. This article serves a purpose to describe in detail more about the initial distribution and the snapshot date.
Thanks goes to those who voted in the advisory governance proposals. The team used this information to help establish the token information listed below:
There will be a maximum of 1,000,000 Stabinol tokens.
- 25%: Airdropped to users based on their STBZ holdings at snapshot
- 65%: Mintable via the claim contract by users for ETH cashback
- 10%: Reserved for team and community moderators. Some of these tokens will be used to supply initial liquidity into the Stabinol / ETH Uniswap pool
As the circulating token supply approaches the maximum supply, the token will activate a per transfer fee (on the sender) that will be used to replenish / fill the claim contract. After the max supply is reached, the claim contract will start to payout from its supply of Stabinol tokens and stop minting. This will prevent runaway inflation.
Based on a review of the proposals and an internal review, the team decided to remove a daily monetary cashback limit but rather have a lower percentage cashback limit of 3% of value of Stabinol holdings per claim (spaced out by at least 72 hours). This percentage will be reviewed monthly as to maintain the sustainability of the Stabinol token.
To be eligible to receive an airdrop, users must be holding at least 50 STBZ tokens at the time of the snapshot. This can be in your wallet, staked in the Stabilize staking pool, or in Uniswap STBZ/ETH LP tokens, staked and unstaked. Unclaimed STBZ earnings do not count towards your balance so you must claim before the snapshot.
When the cashback program begins, 50 STBZ will also be the amount required to stake in the Stabinol staking contract.
Please withdraw your STBZ from all exchanges before the snapshot if you wish to participate in the snapshot. The team has no official agreements with any exchanges to distribute tokens. You can put your tokens back on exchanges after the snapshot is taken.
The amount of airdropped Stabinol tokens you will receive is proportional to the your holdings of STBZ compared to others participating in the snapshot. For example, if you hold 5% of the total amount of STBZ in the snapshot, you will receive 5% of the airdropped Stabinol tokens.
The snapshot will take place between Monday, February 22nd and Tuesday, Feburary 23rd, 2021.
Learn more about Stabilize and Stabinol
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