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Reflection issues that will need to be addressed when SFM Exchange is launched.

Yesterday, Papa stated on the Twitter Spaces Q&A that (as things stand now) reflections will always be tied and limited to the exchange you purchase your SFM through. So if you bought through PancakeSwap, your reflections come from transactions on that exchange. Same for BitMart and so forth.

What this means is that, again, as things stand currently, all your SFM which were purchased on one of these exchanges will always be limited to that particular exchanges’ volume even if you were to use the SFM Exchange once it’s released. The result will be that as the SFM exchange starts to accumulate all of the transaction volume and less volume starts to take place on the other exchanges, your SFM will be “stuck” or “tied” to these now deserted exchanges and you’ll be missing out on all the reflections and burn that the SFM exchange is generating.

There are only 2 obvious ways around this.

1. Transferring your SFM to a new SFM wallet/exchange address. Of course this will incur the 10% fee as it is a transfer to a new address. Not ideal.
2. Dev Team could somehow exempt address transfers to the SFM exchange from incurring the 10% fee. This is a better option but holders will lose the reflections and burn on all those transfers since the fee isn’t being implemented.

Of course there could be some other method having to do with what Papa alluded to by saying that you won’t need to import a passphrase into the new SFM wallet. There could possibly be some new mechanism in place to allow all old SFM holders to transfer to the new wallet and exchange without the fee while also not sacrificing reflections and burn. 🤷🏻‍♂️

At the end of the day, this is definitely something that is hopefully being taken into consideration by the Dev Team. The goal will be to get as much volume as possible on the SFM exchange. If we can’t benefit from the reflections and burns being generated on the sfm exchange because we originally purchased on a different exchange, old holders will essentially be penalized for being early adopters and the only way to participate in the tokenomics generated on the SFM exchange would be to purchase a new bag on that exchange.

I’m interested to see how they will address this. It may already be addressed and be a non-issue. I sure hope so.

What do you think?

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7 Comments

  1. They already addressed that there won’t be a 10% fee on transferring to the SFM wallet. Don’t mean to harp but this sub is getting lazy, let’s please do some research before posting.

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  3. You have 0 confirmation on the 10% for their wallet and exchange(As far as transferring). They’ve mentioned ways around it (Papa even tweeted at MW about a way around the 10%) and 0 actual info out on that so no need to just guess and put out false information

  4. Here is what i dont get. A ton of people moved from trust wallet to bitmart and increased their reflections. if what you are saying is true that wouldnt make any sense. i get Papa said that and you are just repeating it but im not sure how to square that with what has actually been happening. Great info to know if accurate.

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