Our actions regarding auto-sell bot & compensations to players/investors
Dear all Dawn of Gods lover!
Firstly we would like to thank you all over the last 5 days. With you, we were able to reach and break incredible milestones.
- We raised 275k from our IDO
- We listed $DAGO on Pancakeswap and got x22 at our ATH
- In 4 days, over 900 players, 2200 holders, 2500 heroes minted, 200k$ earned by players
- We were trending on CoinMarketCap, CoinGecko, Dextool
Those are amazing achievements for a 5-day old project!!! Dawn of Gods team really appreciates your contribution! We cannot do this without you
Our bad decisions
However, as a young project, we made a mistake, and this mistake affects the project in a bad way that we could not expect.
For those who might not know, 2 hours after launch, we run an auto sell bot in our dev wallet (the wallet used to receive 50% token from minting heroes). After a few hours, the bot swapped $DAGO to a total of 179 BNB.
Many people were panicking about that, but we quickly explained after that, the amount of BNB is used to add liquidity (proof: https://bscscan.com/token/0x174909a2a93718d3656e557a3c95171971c862c8?a=0x0c89c0407775dd89b12918b9c0aa42bf96518820) New LP tokens locked right after.
We immediately stopped the auto sell bot after that
On 15/1 there were a few other swaps for a total of 96BNB, we used that money for buying back tokens, part of them is to spend the marketing cost (proof: https://bscscan.com/address/0xc4c7d966b95cd2fbfa459698c6d7b4bc931ae9e7)
Our team haven’t received a cent from the minting hero fee.
All we want to say here is that we only swap $DAGO to $BNB when it’s actually needed — when we need BNB for good purpose.
But investors don’t think it’s a good move, they don’t accept the risk that we can dump the coin anytime, no matter how hard we try to convince them. This is totally understandable, we realized that we have made a serious mistake and now we lose the trust of our investors. We definitely have to fix it!
Our actions
To regain the trust of investors as well as gamers, today 16/1, we decided to change Dawn of Gods token life-cycle and make some actions. To be specific:
- First, we change the ratio of distributing minting heroes fee, from 50:50 to 90:10. That means when 210$ dollars is spent to mint a hero, 90% of the fee goes to Reward Pool, only 10% goes to dev wallet. This change affects immediately after this article published
- We’ll remove the selling tax when trading on BNB/DAGO pool. Now both buying and selling tax is 0%
- Secondly, we decided to burn all current $DAGO tokens in the Dev wallet. Total 1,267,997.26 $DAGO (1.27% of total supply) are burned (proof: https://bscscan.com/tx/0x12382dceec0d4fe19a78dce1654a5fcd6fc8ee89081cfd60c770e3d969999653)
- Thirdly, to boost up the hype, we decided to create a new discount event when recruiting a new hero. The discount is 20%. A separated announcement will come later
Conclusion
We hope that our actions can prove how much the Dawn of Gods Team want to push the project forward and we strongly ask you to believe in us, believe in the future of the project.
Again, we apologize for our bad decision. Let’s stay with us and continue the journey with Dawn of Gods
16/1/2022
Dawn of Gods Team
