Blog Details

THORWallet Community Tier Update

By
Date
7/25/2022

Dear THORWallet Community

As you are all aware, TGT is a multi-utility token that grants access to the Community and Community Plus tiers.

Community members get:

  • 12.5% TGT Reward APY
  • reduced trading fees
  • Premium features like multiwallet access, harvest & compound in one tx, double rewards for missions, and more to come.

The TGT staking amount to get access to the Community Tiers needs some updating. When we launched the tiers, Community was accessible with around $500 worth of TGT and Community Plus with $5000 worth of TGT. Adjusting 1:1 to the current market conditions would lead to an increase to 50k TGT for the Community and 500k TGT for the Community Plus tier.

After various discussions, especially in the THORWallet Army chat, we decided on the following new terms that will go into immediate effect and lead to a sustainable model for THORWallet DEX:

Community: Trading Fees: 0.3% and 35,000 TGT

Community Plus: Trading Fees 0.1% and 350,000 TGT

Increase of TGT Reward APY to 18%

Updated community tires

We plan to adjust the amount twice a year according to current market conditions. At the same time, we are considering opening the Community Tiers also for TGT Liquidity Providers on the THORChain TGT-RUNE pool.

This would mean that if >35k TGT or >350k TGT has been provided to the pool, Community or Community Plus level can get unlocked. Therefore a snapshot of TGT after the 50/50 rebalance when providing liquidity would be taken.

As this implementation takes some development effort, please indicate below if you agree with such a change:

https://twitter.com/THORWalletDEX/status/1551572194471383040

Best

Your THORWallet DEX team

Official Website: https://thorwallet.org/

Webapp: https://app.thorwallet.org

Twitter: https://twitter.com/thorwalletDEX

Telegram Group: https://t.me/THORWalletOfficial

Telegram Ann: https://t.me/THORWalletOfficial_Ann

Discord Channel: http://discord.gg/TArAZHDjCr

Official OpenSea Collection: https://opensea.io/collection/thorwallet-army

Category