29 April, 2022
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End of week update

29 April, 2022

What a wild, volatile week in every market! Fortunately, for us, we’ve been busy testing and looking at transaction hashes. Looking at what essentially are spreadsheets sounds boring, for sure, but we are missing much of the craziness allowing us to stay cool.

Lox Founders NFT Snapshot #1

This is our final update to remind everyone to prepare for the first snapshot! This snapshot data is being used for two separate airdrops. The first drop is the Lox Founders NFT to the Top 100 holders of each of the Lox Trio tokens (with some exceptions). The second drop is for the $MetaLOX token.

Five snapshots. Averages taken. Top 100 from each Lox Trio token averages receive a Lox Founders NFT (with no single wallet receiving more than 1 NFT regardless of how many times that wallet appears in a Top 100). All averages receive fair share of $MetaLOX at a later date.

We’ve discussed — quite frequently — what is required for the snapshot, when they will take place, how we will distribute and the reasons for us pivoting to an NFT for beta access.

If you wish to participate in the first snapshot, please ensure your Lox Trio tokens are in your self-custody wallet before Sunday, May 1. We do not have any specific recommendations on wallets, but XUMM is by far the most popular XRPL compatible wallet. However, any wallet that can support r-addresses that also allows you to own your own keys to sign your own transactions is perfectly acceptable.

Note, we have already excluded all wallets and accounts owned by Bitrue and Probit. Any of your Lox Trio on either of those exchanges will not be included in the snapshot. There’s nothing wrong with leaving your tokens there (specifically if your strategy is to earn passive income), but please understand that those tokens will not be included in this snapshot.

Sunday’s snapshot will be the first of five snapshots used to calculate those who earned a Lox Founders NFT and, with the NFT, the opportunity to access our Lox Network beta tests! For those who are eligible to earn the NFT after the five snapshots, expect information regarding the NFT drop 2-3 weeks after the final snapshot. The final snapshot is scheduled for Sunday, May 29.

$MetaLOX

The snapshot data will also be used to calculate each wallet’s fair share of the future $MetaLOX airdrop. Once again, there is no trustline at this time, there is no proposed date to distribute the airdrop and we have not determined what any ratio of Lox Trio to $MetaLOX to distribute to our #LoxFamily. What we do know is that we will use the data from the next five snapshots as part of future decision making processes regarding the $MetaLOX token.

Wrap Up

Like we said earlier, it has been a quite week here testing transactional data to make sure Lox’s private and public chains are running in parallel. We’re also still tinkering with the overall look of the SmartLOX app to provide a better user experience. Please remember that when the markets are highly volatile like the last week has been to take a break. Some of us here simply set sell orders at a target prices and log off social media. It can be a great time to catch up with friends and family, jumping on Duolingo to start that language you’ve been wanting to learn, starting that exercise program to get your beach body back, or reading that book series you’ve been putting off. It can be very stressful watching your portfolio value jumping up and down on a trampoline.

If you do feel overwhelmed, please reach out and talk to us. The entire #LoxFamily is here to support you! Thanks for everything you do for us! – Team Lox

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