We have upgraded our contract to add additional features which will help reward holders, give back to society and most importantly safeguard the project to ensure a healthy, steady growth.
Many who attended today’s AMA received the news of the Shrew upgrade which benefits from additional features which will not only help to protect the project from major bot manipulation but also will help facilitate healthy growth of the business over the years.
Each and every feature has been carefully selected with both you, the investor and the longevity of the project in mind. Since our launch in July, many have witnessed some price fluctuations and an overall resistance in price which is relatively normal within the crypto space, however, in the case of Shrew a particular exploit that was holding us back were trading bots. For those unfamiliar with trading bots , here is an article that can help to explain further their nature and the impact they can have on a project. Milakovic, our wonderful Shrew Support member, also created an analysis of what the trading bots influence has had to our charts which you can find at the bottom of the article.
Additionally to this, many community members have suggested that they’d like to see an initiative in place that rewards holders. We have therefore devised Shrew 2.0 — a smart contract that’s more resilient against bots and of course more rewarding.
The following infographic helps to summarise the additional features that make up Shrew 2.0.
How will the migration work?
⚪️ As a current holder who migrates to SHREW 2.0 you would receive 10% extra SHREW 2.0 for every SHREW you migrate.
⚪️ Those who sell V1 will not be eligible for V2. You will need to migrate the tokens via a special migration app on our official website. Instructions will follow but essentially you deposit your tokens there and when the migration window has ended we press distribute and you will receive SHREW 2.0 with 10% extra.
⚪️ We will announce a migration window, which will last 3 days. Once it is over, liquidity will be drained from V1 and used to create the V2 pool. Just before liquidity is drained, the migration contract will stop accepting deposits. This will stop people from trying to buy lots of SHREW cheap from the V1 pool and get lots of SHREW2 after draining of liquidity.
⚪️ Once you have SHREW 2.0 you will be able to trade as normal on the new pool but will have 10% extra as a reward. New buyers will not get this reward. Only migrators will. This means the tax impact will be greatly reduced for migrators to only 10%. We expect the new features to have a far greater positive impact than the 10% tax impact.
⚪️ Migration will open tomorrow (14.08.21) and will close Tuesday (16.08.21) at 6pm.
MIGRATION IS NOW OPEN. Please visit www.shrew.com which has an instructional video and function added for migration.
We are really excited about these upgrades which will take the project to the next level. We want to take this opportunity to thank all of our investors for their continued support, Shrew Support, the dev team and look forward to an even brighter future for Shrew.
- Why did you add tax to Shrew 2.0?
We added a tax only to the sell function for two reasons. The first being that it significantly helps reduce the manipulation of price action by both trading bot and human traders. The second reason, we wanted to ensure a steady growth for Shrew. Applying tax will help support this as the funds go towards rewarding holders, replenishing the liquidity pool, supporting product development/marketing and offering something back to the industry we are working within. Most coins have a 12% tax and up to 25% in some cases on buy AND sell. That is between 24% — 50% tax in total. Our contract only has the tax on the sell. We are able to switch tax off or reduce it but never increase it above 20%. Switching tax off means we can do this when we want to apply to a big exchange or once the token is used for reward points in the real world.
2. Will I be taxed when buying SHREW?
No, the 20% tax is only applied to sell orders.
3. Will you always have tax, wouldn’t this be a barrier to getting on exchanges?
We can pause the tax function in the future should it become a major barrier in progressing forward.
4. When will I be able to stake Shrew?
We are finalising the staking programme and will anticipate in rolling this out very soon. Announcement will be made across our social media channels and Telegram.
5. Will the migration to Shrew 2.0 affect the Certik Audit?
No, Certik will continue to audit for Shrew 2.0. The contract will be submitted to them and we anticipate that it will not take too long for them to come back with results.
6. Will the migration to Shrew 2.0 affect the agreement with Chainlink?
No, this will not have any impact.
7. How will you the Blockbot know what is a trading bot?
It is easy to identify what is a trading bot. On Dex tools, trading bots mainly appear smart contract next to their transactions but additionally to this it is easy to spot.
8. How am I going to receive my 10% airdrop?
The migration contract has an distribute function. When you send your old SHREW to this contract, the distribute function will send 10% extra of SHREW 2.0 to you automatically once we hit distribute after the migration window is closed.
9.Why does the price go down after AMA?
Some people may sell because they don’t want SHREW 2.0. Those same people won’t be able to get the 10% increase if they buy later either and will need to buy SHREW 2.0 from Pancakeswap.
10. What guarantee are there that if I send the SHREW to the migration address I will receive the SHREW 2.0?
The migration contract has been tested rigorously and it works. You will get your SHREW 2.0 once the migration window closes. We already have enough to pull liquidity so there is no benefit to us if you send us the SHREW. The benefit to you however is that you get SHREW 2.0 and 10% extra as well.
11. How much will the launch price be for SHREW 2.0?
It will be the same as V1 before liquidity is pulled but in reality you will have 10% more SHREW so your balance will be 10% higher in dollar terms too.
12. What happens if I don’t send my old SHREW on time to the migration wallet?
You will be too late. We will be taking a snapshot at an undisclosed time too in case there are some people who are late. However, you will not be able to exploit the system by selling V1 before liquidity pull and buying it back cheap after because we would have taken a snapshot of the wallets just before liquidity pull of V1. Also, the migration contract will close any further deposits once liquidity has been pulled.
13. What if I don’t want SHREW 2.0?
You can sell your V1 on the current liquidity pool but V1 will no longer be useful in the ecosystem. If you want to stay with Shrew you will need to migrate to SHREW 2.0.
14. How will staking be financed?
We will have a staking wallet for staking. We do not have a mint function hence the need for a staking wallet. To ensure the wallet is maintained, 7% of the 20% sales tax will be used to fund the staking wallet. It will be converted to BNB and that amount will be used to buy-back SHREW from the market to support price when it is most needed. When the SHREW is bought back from the market, it will be used for staking rewards.
15. If you can blacklist bots, you can also blacklist any wallet, how can I be sure you won’t blacklist us all?
There will be no benefit to us for blacklisting a person’s wallet. The purpose for having Blockbot is to blacklist trading bots.
16. The contract break function will be used under what circumstances?
If we have a large influx of bots and we need to blacklist them one by one, then we can pause the contract and halt transfers and then resume it again. It gives us time to respond to an attack and defend the investors from bad actors.
17. Why do you need 7% marketing if you already have a large portfolio dedicated to that?
You can never have enough marketing funds. Some of this will be used for product development as well. It is key to the future of our ecosystem.
18. How are we going to get out the liquidity if it is locked for 2 years?
We will sell our reserve wallet and pull out around 75% of liquidity. The liquidity tax means we can build liquidity back up at a steady pace and increase it further.
19. How are you going to do with Coin Market Cap and Coingeko, will everything have to be redone?
We will have to put in requests to update our listings. This may take some time but both Coingecko and Coinmarketcap have processes in place for token upgrades as it is very common.
20. Will the token name change now?
No, the token name will remain the same $SHREW.