HiveTunes - PROJECT CANCELLED

over 2 years ago (Edited)

Unfortunately,

An issue with the token distribution has ruined this project. Luckily, nobody participated in the pre-sale, so the only one at a loss it me.

I apologize for this, and I can only learn from my mistakes.

splinterlands leofinance oneup proofofbrain ctp gaming hivegaming cinetv cent hivetunes

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17 comments

@ecency 76

over 2 years ago

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@yeckingo1 70

over 2 years ago

Very interesting, I think a collaboration with Rising Star would be positive, maybe they can invest. I hope it is a successful project.

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@choof 58

over 2 years ago

Yes for sure! I will definitely reach out to the Rising Star project regarding collaboration.

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@zottone444 71

over 2 years ago

!PGM

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@zottonetoken 45

over 2 years ago

Sent 0.1 PGM tokens to @zottone444, @choof

_{remaining commands 5}

Buy and stake 100 PGM token to send 0.1 PGM three times per day,
500 to send and receive 0.1 PGM five times per day
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Discord

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@zottone444 71

over 2 years ago

Really interesting project we absolutely have to collaborate

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@sandymeyer 71

over 2 years ago

@yangyanje check this!?!
!BEER 🍻

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@irisworld 70

over 2 years ago

Sounds interesting! Joined your discord ;)

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@irisworld 70

over 2 years ago

Maybe you should try to collaborate with @risingstargame

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@luizeba 75

over 2 years ago

Can you share what happened, so others can learn from it too?

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@choof 58

over 2 years ago

Good idea,

I reached out to the hive team for some more information, but haven't heard back yet.

I will write a short post later about what I do know, and how to avoid it.

My fatal flaw was not realizing the token was being automatically distributed. I guess this was something in the initial setup I missed.

Every wallet had 200k TUNES ready to claim, and that would of devestated the project. Since the presale was only 500k tokens.

In an attempt to resolve this, I distributed the remainder of the max supply of TUNES to an account. My plan was to hold this until the Hive team came back with a resolution, and I would burn the tokens. That way nobody would be able to claim the tokens.

However, I was quick to learn you cannot modify the max supply after the token was created. I also learned that burning tokens does not remove them from the total supply.

Here are a few things I learned from this:

Know what you are doing before attempting anything (burning, distributing tokens). My "Damage Control" was the fatal mistake.
you cannot undo mistakes, so don't make them.
SLEEP. I was up for about 50 hours straight, and was not making the best decisions.

Hopefully this can provide some insight. If it does, I will write an updated post to help other as well.

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