/biz/ - Business & Finance

>>24839239

they answered following:

,,This was a one time payment issued to a key partner helping launch the project. It was accounted in the inital 250k circulating market cap projection (at 2.5 cents). It is common that service providers are paid in tokens and rely on instant compensation for their work.

In our private sale 100 million tokens were sold at 2 cents. Distributed in 12 tranches. The first tranche is worth 208,333 USD at the listing price of 0.025 cents. We accounted for a 250,000 market cap including a 3rd party service payment of 41,666 USD in SPDR.

Please keep in mind that any circulating supply as depicted on https://www.coingecko.com/en/coins/spiderdao is circulating the market and may change hands.
The Coingecko circulating supply includes 60 million tokens from which a $1.5 million liquidity pool on Uniswap provided by the SpiderDAO team and managed by a liquidity provider has been deployed.
There is no intention to remove liquidity in the foreseeable future.

We will be closely monitoring the liquidity provided by our community via the DAO Distribution Program (https://mine.spiderdao.io/#/)) in order to ensure a balance of strong overall liquidity and LP fees earned by liquidity providers.

For the team tokens, please check here: https://etherscan.io/address/0x6a27f7adf072185fe817c0745dd12e1fe342c8b1
All team tokens are locked and vested according to our vesting schedule.

We understand that launches often make a big noise and we seek full transparency.

From here, we will shift our focus on making our vision happen and thank everyone who participated in the sale and contributed to SpiderDAOs vision."