What is DiamondHold?
An overview & justification of the supply and presale
DiamondHold is a new project that is about to launch (presale link https://dxsale.app/app/pages/defipresale?saleID=157&chain=BSC). It tries to employ a new and interesting token mechanic that hasn’t been seen before: you get rewards based on the time you hold.
They use two rewards which increase in strength over the time you hold:
- Tax reduction
- Reflection increase
To learn more about the intricacies, here are some links to help you get up to speed.
- Website: https://diamondhold.net/
- Twitter: https://twitter.com/hold_diamond/
- Telegram: https://t.me/DiamondHold/
- Discord: https://discord.com/invite/drf8HqUqfY
Here you can join the community and ask all the questions you want! We are super active and ready to discuss anything you might need, even if it has been asked before!
Supply Breakdown
Let’s take a look at the supply breakdown of DiamondHold.
Total Supply: 1 quadrillion
Public: 590 trillion
Community: 110 trillion
Marketing: 190 trillion
Team: 90 trillion
Fees/Burnt: 20 trillion
The public value is split amongst the public presale and the launch liquidity, further details can be found on their white paper at https://diamondhold.net/docs/DiamondHoldWhitepaper.pdf!
All team held funds are also locked:
Community Wallet [1-week lock]: https://dxsale.app/app/pages/dxlockview?id=1&add=0x4cd7e7c2E715BE3bfa0685D8Ce40b0c15Be89108&type=tokenlock&chain=BSC
Marketing Wallet [3-week lock]: https://dxsale.app/app/pages/dxlockview?id=1&add=0xCad15AFb4f00F25B486bBc99c116BE4F267E7C40&type=tokenlock&chain=BSC
Development Wallet [1-year lock vesting in 20 equal portions]: https://dxsale.app/app/pages/dxlockview?id=0&add=0x8214a36dD0d2B23edAd81469cbFb5999a484F1E2&type=tokenlock&chain=BSC
Why did we choose a total supply of 1 quadrillion?
A lot of the projects cropping up on the Binance Smart Chain seem to go with total supplies in the trillions. It seems like a lot of people in this space gravitate towards very “cheap” tokens with large amounts of supply, as they can acquire a lot of them.
For our project, it felt more satisfying on the test net receiving hundreds of thousands of tokens from the reflection, rather than fractions of a token.
Have we burned any tokens?
To make the token deflationary we have burned 1.2% of the total supply. This amount will slowly build up with the reflections from trades, in effect taking them out of the circulation forever.
On top of that we want to add to this amount, with burns happening at certain milestones or having community votes to do more.
What are the community & marketing wallets for?
The community wallet is there for funds used in giveaways, contests, airdrops and burns!
The marketing wallet is there for paying for branding, design, advertisements, celebrity outreach, social media campaigns and exchange listings.
These wallet public addresses are available to everyone, and transactions made from them will be communicated to keep the community informed of where we intend to take the project.
Why a team wallet and what is this for (and why the 20 vests)?
We decided to have a team wallet to help encourage the development team to work hard. If the project succeeds then the wallets value increases, and that is in everyone’s best interest.
The wallet is there to help pay for server costs, maintenance, staff and any other operational or unforeseeable costs that we may have.
The idea of having multiple tiny vestments is to prevent the notion that we will come into a large supply that will then be dumped. In addition, it creates a steady stream of income for the team which helps to foster and maintain the momentum.
All team held tokens are restricted from gaining reflections, they do not participate in the tokenomics so that more reflections are delivered to you guys, the holders.
Presale Breakdown
Now that we have a good understanding of the tokens state, how is this planning on being launched?
Presale: 400 trillion
Liquidity: 190 trillion
Presale Rate: 2 trillion per BNB
PancakeSwap Listing Rate: 1 trillion per BNB
PancakeSwap Liquidity: 95%
Liquidity Unlock Date: 5 May 2022 at 22:00
Soft Cap: 125 BNB
Hard Cap: 200 BNB
Minimum Contribution: 0.05 BNB
Maximum Contribution: 1 BNB
Presale Start Time: 5 May 2021 at 21:00
Presale End Time: 5 May 2021 at 22:00
Why did we choose a presale amount of 400 trillion (40%)?
We wanted to have as many tokens available to the public initially. Other projects tend to go with the approach of burning some of their supply (we see mostly 50% burn at start). The only thing that this changes is the “feel” of the token, and your actual positions in each token will track to the values you intend to put in relative to the total supply.
This is where you’ll see tokens claim to have a 5% dev wallet, when they burn 50% of the total supply: this is actually just a 10% dev wallet.
Why did we choose a liquidity of 190 trillion (19%)?
This value is largely dictated by the DxLaunch presale that we are running. We wanted to set the highest amount of liquidity (95%) to give our launch the best chances of being secure against dumps.
To understand this more in-depth, you can read our white paper: https://diamondhold.net/docs/DiamondHoldWhitepaper.pdf
Why is the liquidity locked for 1-year?
Liquidity will remain locked for exactly 1-year from the end time of the presale. We hope by then that you will have trust in us as a project to not misuse this.
Locking liquidity for too long can be detrimental to a project, like we’ve seen in the PancakeSwap V1->V2 migration and contracts now stuck on V1. Also, if we ever wanted to provide liquidity for centralized exchanges such as WhiteBit or BitMart we’d need to have the confidence that we can move some of it over.
In any case, this information will be explicitly communicated well in advance to the entire community.
What made us choose the current soft and hard caps for the presale?
We originally chose 150 and 250 but that has now changed by community vote to 125 and 200. The justification is still valid:
We didn’t want the soft cap to be too low to give you guys the confidence that your hard-earned BNB will be returned to you unless a substantial amount has been filled.
The hard cap is there to provide as much liquidity as possible for a DHT/BNB pair. We have found that projects that succeed and do well have similar caps.
If the hard cap is not reached, all excess returned tokens to us will be burned.
What made us choose the current minimum and maximum contributions for the presale?
The reason for allowing 0.05 as a minimum contribution is to allow for smaller fish to get involved and to practice playing around with a real BSC project.
UPDATE: We originally had 4 BNB as the maximum contribution, but during our AMA we were asked if this could be reduced. After some deliberation and talking amongst the community, and a final vote, we decided it was best for the project if this was reduced to 1 BNB.
Our reasoning for using 4 BNB was to help fill up the presale, but now that the project has garnered a lot of attention we now have a lot more confidence in it. Using 1 BNB is leaps and bounds more healthy for the project, as it prevents whales from hogging the entire supply and dumping it.
It’s important to note that with our tokenomics you are heavily punished for flipping your tokens (15% buy and 15% sell). So we decided to go with similar soft and hard caps to see how this would affect initial launch trading.
In addition to this, with a large amount of liquidity, a potential dump won’t have nearly the same amount of impact that you may think it would — securing the value of our token!
Conclusion
The DiamondHold team have thought about everything clearly, and you can tell they want the project to not only launch successfully — but thrive!
Come join us on Telegram to ask any further questions you may have: https://t.me/DiamondHold
Lastly, there is a giveaway happening Tuesday 4th May in the UK evening, and there will be more giveaways to come so make sure you follow the Twitter account!
