June 20th, 2021 — August 20th, 2021.
Snapshots 5 & 6 will be taken within the two-month period shown above.
- At the end of this period, a random generator will be used to select TWO dates and times.
- Each date and time combination will be searched on the Phore Blockchain.
- The block which coincides (or is closest to) each randomly generated date and time will become the block where a Snapshot of balances and addresses are taken.
- The oldest block will represent Snapshot 5, and the newest block will represent Snapshot 6.
- The process of choosing randomly generated dates and times will be streamed to the Phore and Graphene communities, LIVE!
The live stream date will be August 21st, 2021. Time TBC.
Why do this?
Cryptocurrency prices are widely known to be volatile. When an airdrop is announced, the volatility is magnified.
These market conditions are ripe for people who want to profit from them — with no interest in the project, they simply profit from people who have a genuine interest, are less experienced, or have less financial power — damaging the project and hurting the userbase.
Now that Graphene is nearing launch on Binance Smart Chain, it is extremely likely Snapshots 5 & 6 will be taken after the release of the BSC Graphene token. If we continue to announce future dates for the Snapshots, the price of Phore is more open to volatility and potential manipulation*.
It’s clear by looking at Phore and other projects who have Airdropped tokens in the past, the lead-up to a Snapshot generally provides an increase in price, followed by a drop after the Snapshot is taken . Usually, these are completely natural, however still provide a timeline for any trader to take advantage of.
Should this happen for Snapshots 5 & 6 — when Graphene is live on Binance Smart Chain, the volatility in Phore price would result in Graphene being unable to establish a true, consistently trending value in its own right. Manipulation could also potentially lead to a more centralized Graphene.
Although the price of Phore and Graphene will still be somewhat connected (until the conclusion of the Snapshots), we have created an environment that is fairer, and which gives Graphene more stable conditions to establish itself and flourish within.
*In no way are we suggesting the price of Phore has been manipulated in the past. This is a precautionary measure to lessen the likelihood of any attempt at manipulation and to give Graphene the best conditions to be launched within.
