18 April, 2022
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Start of week update

18 April, 2022

We’ll kick this off with a congratulations! Last week, we launched our first giveaway to our #LoxFamily to gain access to our public beta testing.

https://twitterpicker.com/d/gu9mub4c

Welcome to the MetaLox, @Go_LOXEM!

To keep contests transparent, we’ve included the link in the photo’s caption above.

Keys to the Lox Kingdom

We’ve decided on the MetaLox snapshot dates and made a few changes to help ensure that we have 499 other participants joining Go_LOXEM in our public beta.

There will be five snapshots of each of the three Lox Trio tokens. The snapshots will only include self-custody addresses. We will not include tokens held on Bitrue or Probit in any of these snapshots.

Each Sunday of May will be snapshot day. That means we will take a snapshot of each token on May 1, May 8, May 15, May 22 and May 29.

We will then take each address’ average holdings over those five weeks from each of the $LOX, $SmartLOX and $SmartNFT snapshots. This data will help determine the Top 100 (and minimize farmers, many of who don’t like to hold on to tokens for several weeks as we’ll see spikes that could be outliers). The five-week spread allows us time to evaluate and cross reference if the addresses have real people behind them or are bots.

We’re doing this balance the risk of farmers and reward loyalty.

As previously discussed, addresses that appear on more than one Top 100 list will have the duplicate removed. This ensures no address receives more than one.

This is where we change things a little. We need to ensure that addresses have no less than 1 $MetaLOX, but we cannot prevent people from using any of the multiple user interfaces available (e.g. Sologenic, OnXRP, XRDoge, etc) to trade on the XRPL’s built-in DEX. This may mean people own fractions of a MetaLOX. This won’t allow them access to the public beta and we lose eligible participants to give us feedback.

To avoid the potential issue of fractionalization, we will drop a Lox Founders NFT to eligible wallets. The NFT will give access to the public beta and still be tradeable (but obviously cannot be fractionalized). Though there’s still no guarantee that whoever holds the NFT will participate in the public beta, it best ensures that there are 500 tickets available.

Going back to our first paragraph, this means @Go_LOXEM will receive one of 500 Lox Founders NFTs!

$MetaLOX

The snapshots will also be used for the $MetaLOX token airdrop. There is no trustline at this time and no set date for the airdrop. Same as the Lox Founders NFT, this will only include self-custody addresses as we will not airdrop $MetaLOX token to Bitrue or Probit.

Wrap Up

We have our work cut out for us. The five snapshot series, our upcoming meetings, launching the public beta, updating websites, locking in a third CEX, coordinating a schedule with JTXRP… it’ll be a busy few weeks and we hope you’ll be there with us on this journey! Thanks for the support as always, #LoxFamily! – Team Lox 

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