Navigating the Future with Tau Net: A Commitment to Secure, Transparent Blockchain Transitions
Dear Tau Net Community,
We appreciate your active engagement and would like to address recent discussions with comprehensive clarifications:
ERC-20 Token Swap
The recent tokens sent to Whitebit are solely for the ERC-20 token swap, assisting our community’s transition from Omni to ERC-20. This operational step is crucial for the transition and does not indicate any ‘dumping’ actions by our team.
Handling of Token Swaps
We have chosen Whitebit to handle the token swap to ensure regulatory compliance and mitigate risk. Our focus is on the integrity and longevity of our project, rather than short-term gains. Our aim is to have more exchanges supporting the swap in the future.
Company’s Runway and Financial Position
Tau’s financial runway is sound, supporting our ongoing commitment to developing Tau Net. While specific financial details are confidential, rest assured, our dedication to the project’s success is steadfast.
Revenue Estimations and Roadmap
Tau Net’s potential to revolutionize software development extends beyond blockchain technology, potentially saving billions in traditional testing costs. We project significant revenues in the coming years. Regular progress updates, including tasks completed and pending, are available on our YouTube channel.
Smart Contract Features and Community Protection
Our smart contract includes three community protecting measures: address freezing, token issuance over max supply, and contract suspension. These features, which have never been used in our 9-year-long history, are intended for extreme cases only, such as preventing potential rug pulls by CEXs or stopping large hackers from dumping illegally acquired tokens on the market. These are safeguard mechanisms designed to protect our community against malicious attempts. Specifically, the token issuance over max supply feature is being considered for a potential token split upon mainnet release, where every holder would receive additional AGRS tokens. This action wouldn’t mean any dilution since every holder’s tokens would increase proportionally, maintaining their relative value. A note here is that we and the community have not decided to increase the token supply though the discussions on this topic warranted adding this feature to the contract. Any future use of these features will always be with the consensus and coordination of our community.
Mainnet Token Unlock Plan
We understand concerns regarding the mainnet token unlock and its potential impact on the market. To address these concerns, we are planning a carefully thought-out vesting period. With token holders already moving their Omni based Agoras tokens, we also expect the amount of locked tokens and impact to be far less, and the plan revolves around how many locked tokens there are at the time of swap. We have certain ideas in mind that are not yet set in stone, such as unlocking the tokens in tranches rather than in one go, and many more that have to be well thought through. This approach is designed to align with community consensus as closely as possible, ensuring a balanced and stable transition. We are committed to making decisions that reflect the best interests of our community and the long-term success of the project.
We hold our community in the highest regard and commit to maintaining trust, transparency, and active involvement in our development process.
Thank you for your continued support and trust in Tau Net and Agoras. Together, we are committed to building groundbreaking technology that reshapes the world of blockchain and AI.
Best Regards,
The Tau Team
