Good morning Lions I trust you are safe and well and keeping up with all the recent action on the block chain. Tonight is a little different as I am diving into a bit of a social experiment one that will probably cost me a little bit of money but I am willing to try and see how things go. Let me introduce you to what I am working on.
In the wonderful world of Oz (Australia) Crypto currency has been legal since 2013 and with that our legislation, policy and procedures have continued to advance to enable smoother transition and experimentation with block chain technology. There is still work to be done and a significant amount of conflicting and confusing policies but, we're getting there.
With that in mind I have decided to undertake a social experiment involving block chain technology and launch our very own Australian Meme Token called SKIPPY.
Keeping in mind that "legal" doesn't mean unregulated and there are still some extremely confusing aspects of what can and can't be done and for the most part it is predominately in the financial sector. As I am attempting to launch a meme coin it is not intended or will be used for financial purposes. I am in the process of seeking clarification and have been speaking with a few people as well as emailed AUSTRAC and awaiting a response prior to "officially launching" main thing is I don't want to end up in hot water over something not being clear.
Taxable event
Engaging in Cryptocurrency trading is a taxable event so if I do manage to sell meme coins they will trigger tax. I'm not here to debate peoples position in tax and block chain but keep in mind I will be having to pay tax if this actually takes off.
Purpose
Beyond just another silly meme token I am developing an inbuilt purpose one that will aid in the recovery of habitat and repopulating areas that have seen Australian wild life decimated. The Australian Bush Fires have impacted approximately 3 Billion animals, that's a lot of work to be done and it will probably be costly. So I had an idea, people were buying other Meme tokens for no real purpose so what if I made another meme coin with an actual purpose?
I know it can be hard believing some dude on the internet but lets be honest here my personal reputation is worth more than this token. Hence why I am waiting for clarification prior to launch.
Are you interested?
Draft Whitepaper
I have drafter a whitepaper that I would like to propose to you all for your feedback and involvement in it's development. Noting that the token has been created but is not launched yet as I am awaiting clarification on a few things but in the interim I would really like your feed back on its inclusions. I know some may want to see staking and other various things like Decentralised Finance but unfortunately at this stage I am unable to pursue that avenue as it requires ASIC and AUSTRAC registration. Perhaps in the future if we can get the token moving we could look into it.
So let me know what you think and lets build it together!
Introduction
Since Bitcoins introduction in 2009 Block Chain technology has continued to expand and develop various new age technology industries. New iterations have seen decentralised financial systems flood networks and provide economic opportunities for new enterprises in finance, art, content creation, blogging and non-fungible tokens. A recent fad taking the block chain industry by storm are meme tokens.
The most famous meme token within the block chain industry is Dodge Coin which holds no real-world application or purpose other than to bring joy. The token itself depicts an image of a Shiba Inu k-nine that once was share on mainstream social media sites. The token continues to grow in popularity attracting the attention of many purchases that wish to add the token to their collection.
In many countries around the world trading digital assets and/or engaging in block chain activities is considered illegal and can warrant significant fines. Australia is a unique country which legalised the trade, sale and purchase of digital assets and has continued to lead the world in investing in the emerging technology.
With that in mind the project team at SKIPPY have decided to trial the development and implementation of the first Australian meme coin called SKIPPY. Unlike many of the other meme tokens SKIPPY will serve a purpose.
Token Image Design
Kangaroos are one of the most well-known Australian animals a unique powerhouse which gets around hopping about on its hind legs. Giving birth to their young offspring called Joeys They continue to care for their young in their pouch. We believe that Kangaroos best represent Australia as they are a strong breed that live in mobs and care for each other, united.
Art also depicted on the token image is of Indigenous design recognising 60,000+ years of Indigenous history, culture, and values (designed by an Indigenous Australian). There are no greater iconic colours that depict Australia than the famous Green and Gold which are often worn at sporting events and the Olympics. For this purpose, Green and Gold is depicted on the token.
Purpose
SKIPPY will be starting off their life as a young Joey with a basic plan to be the best and most sort after meme token in the world, after all have you ever been able to catch a Kangaroo? Beyond that the token is a social experiment to aid in the recovery of the 2019 Australian bush fires which saw a large portion of Australia up in flames.
The Bush fires resulted in massive amounts of fauna and flora being destroyed with an estimated 46 million acres burned and approximately 3 Billion animals burned with a possible extinction event for a number of Australian animals. Through the tokens inbuilt reflective capabilities which provide liquidity to maintain a floor price a portion will reflect to the developers wallet to be held and used to provide community grants and initiatives to rebuild, rehabilitate and aid in reproduction efforts and rejuvenate much of the damage that was caused by the bush fires.
As Block Chain technology is legal in Australia there is a taxation component which will be required by the project to pay and we have every intention where possible to meeting the expectations of regulatory authorities to maintain the continuation of the project, safeguard your meme token and provide support to the community.
**Tokenomics **
SKIPPY will initially be launched on Binance as a BEP20 token with the hopes of expanding to ERC20, Terra Network and the added possibility of a launch on Secret Network. To ensure liquidity and a floor for the token a 3% automatic Liquidity Pool reflection has been implemented to provide a self-sustainable model.
To provide funding to employ developers, address contract issues, meet tax obligations including the fund-raising element to support the tokens’ objective the token has also included a 3% reflection to main contract wallet. Furthermore, the token also implements a 1% reward reflection which distributes the meme token to holders directly to their meme storage. The total reflection is 7% and slippage should be set to this when purchasing the meme.
The current circulating supply is set to 400 Million tokens noting that the contract has the ability to burn and mint new tokens. However, depending on the outcome of a recent senate committee hearing which has recommended Australia recognise decentralized autonomous organization ( DAO ), there is a potential if approved to establish a legal DAO and put future tokenomics in the hands of the DAO and any future developments.
20% of minted tokens will be retained by the main wallet to support development and an initial 5% retained to provide the first donation in parts (no whole dump) once the token is sufficiently sustainable and selling will not cause loss of meme token.
Once the token is completely established and sustainable it is anticipated that the token ownership will be renounced and the 3% reflection will provide SKIPPY to community groups, environmental programs and continue to be the Cryosphere’s greatest Meme to ever be created!
Token image developed by me image sourced supplemented by canva pro subscription. This is not financial advice and readers are advised to seek professional financial services. The SKIPPY token is being developed for fun in an attempt to raise funds for much needed recovery