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Community Vote: Future of the IBIT Token

Proposal Overview

This proposal suggests discontinuing the IBIT Token in exchange for holders receiving coins of a new, quantum-resistant layer one blockchain, as well as an eventual untradable InfinityBit Utility Token which will be deployed upon the launch of the InfinityBit platform. Each IBIT Token represents one vote, and the proposal will pass by simple majority. The voting period ends January 21, 2025 at 23:59 UTC.

  • A snapshot of all IBIT token holdings will be taken 24 hours before the launch of a new layer one blockchain.
  • Each IBIT token holder will receive one native coin of this new layer one blockchain per IBIT token held at the time of the snapshot.
  • The total supply of the new layer one blockchain will be 10 billion coins.
  • A foundation will determine the economics and distribution model for the blockchain's supply, at its sole discretion.
  • The entirety of the IBIT Token Uniswap Liquidity Pool will be donated to the foundation.
  • When the InfinityBit platform launches, IBIT token holders will receive utility tokens based on their holdings at the time of the snapshot.

What Supporting Means:

By voting to support, you agree to the snapshot mechanism for IBIT token holdings, the 1:1 distribution of the new layer one blockchain's native coins to IBIT holders, the donation of the IBIT Token Liquidity Pool to the foundation, and all elements of the proposal.

What Opposing Means:

By voting to oppose, you disagree with one or more aspects of this proposal, including but not limited to: the snapshot timing, the 1:1 distribution ratio, the 10 billion total supply of the layer one blockchain's coin, the donation of the Liquidity Pool to the foundation, or other elements outlined above.

Important: If this proposal does not pass, the IBIT Token DEX liquidity pool will be burned and all IBIT Token holders will irrevocably forfeit any and all rights, claims, interests, and entitlements to receive any coins from any future layer one blockchain.

Voting Information

Voting is open to all IBIT token holders. Your voting power is proportional to your wallet address's token balance as of Sun Jan 05 2025 23:59:00 UTC. Each wallet may only vote once. The voting period will end on Jan 21 2025 at 23:59 UTC, and the results will be implemented if the proposal passes with a simple majority vote.