We’ve gotten a number of sales and questions altogether mixed in the chat. For my first token sales campaign it’s not gone insanely trending but I am quite glad with the turnout. I’m pretty thankful the group chat for the token has not devolved into mass stickers and GIFs sharing. There are some lost people who we are glad to guide and help out and more importantly there have been some critical questions that have been asked in the chat. I’ve answered these to the best of my abilities so I do want to put them into a Medium article as a sort of FAQ as we move onto Round 2 of the sales period.
Q: How do I sign up for the airdrop?
A: Just message @PhoenixFundAirdropBot on Telegram. The bot will guide you through the steps from there, and after that you just need to wait for the tokens to be distributed.
Q: When do we get the airdrop? When do we get purchased tokens? (And other questions along these lines)
A: The airdrop will happen as soon as Round 2 of token sale concludes. Now if we run the clock, this will be on October 10, 2020 at 8:04PM to be exact (Oct 10, around 12 Noon for our Western audience). On the other hand if we sell out, not only do we get to unlock additional airdrop rewards for everyone registered, we also push the schedule to be earlier.
Q: What exactly happens next when the sales rounds ends?
A: Once the sale closes officially, we will first run a script to check for everyone who registered on the airdrop bot, to make sure they are still even in the group. Once we clean out this list, we’ll send out all the airdrop rewards to everyone!
After sending the airdrop, we will be working to add liquidity on Uniswap. The pair will then be linked in the group and added to the pinned post. Then comes the all important liquidity lock, and this will also be posted on the group.
At this time trading shall officially begin, so do not forget to join the trading channel here: https://t.me/phoenixcryptofund
Q: What kind of trading style do you employ?
A: For this fund at least I will be protective of the capital. Since I believe it is detrimental to lose capital rather than try to gain faster (risk-reward wise, with regards to the goals of the project) I will be a conservative trader. I am normally more of a swing trader than a day trader, so do not expect multiple buybacks within the day, everyday. But what one can expect from the project is a long running stream of buybacks which should not run out.
Q: What happens in the event of losses?
A: In the event of a loss, I will explain using an example.
Let’s say the fund’s starting capital is $100,000. There was a loss of $1,000. The next trade, was a profit of $2,500. So the new balance is $101,500. Only $1,500 will be used for buyback and burn. If there are more losses in a row, the fund must reach the initial $100,000 before any profits will go to buyback and burn.
Q: Max supply? And how will the burning go?
A: Max supply is 100M tokens. Anything not distributed to airdrop or sold on Bounce will be sent to the official burn address (0x82154eA06c1bcB617A100824f0B5d433C2aFC408). Therefore the tokens will be set only against the funds that was raised. The airdrop coins would inflate it a little but nothing too concerning. This way if the project doesn’t sell out, it is flexible enough to scale down to fit the size of the final sale.
As for the buybacks and burning I do believe it is best to show it in an example: (For this example we assume the trading fund is $100k)
On a 2% profit trade, it means $2,000 will be used to buy on Uniswap and burn any tokens purchased. First, the trade is closed, details noted down. Funds are withdrawn by ETH, and sent to a buyback wallet. This wallet will use the entire (leaving a bit extra for fees) $2,000 to buy tokens on the Uniswap pair. Once it goes through, all the tokens will be sent to the burn address. The price impact would drive up the price a little, for anyone wanting to sell some of their tokens, or everyone can just hold and wait further. The transaction of sending to the burn wallet is recorded. Now the trade that was closed is posted on the results channel, followed by a post about the token burn.
Q: How do I buy the token from my mobile wallet?
A: For Mobile metamask users:
Metamask app > click the little lines in the top left (Hamburger menu)> click browser > enter the full URL (https://bounce.finance/join/swap/3419) in the field > enter amount of ETH > Go > confirm on Metamask
Q: Are you US based? Do we need to do any KYC?
A: No we are non-USA based. There will be no KYC required.
Q: What is the token address?
Q: Do you have a website?
A: Yes, visit us at https://phoenixcrypto.fund/
Q: What tokens/coins will you be trading? Joining any degen coins? Pump and dump rides?
A: I’ll be trading large-volume coins and tokens on Binance exclusively. Given I want to be capital-conservative I can’t make bets on microcap coins, at least for the public funds of the project.
Q: What’s the price on rounds and Uniswap price?
A: Token prices:
Round 1 Price = 0.00003000 ETH/PHX (~$0.01)
Round 2 Price = 0.00003300 ETH/PHX (~$0.011)
Uniswap Listing Price = 0.00003600 ETH/PHX (~$0.012)
If there are more common questions, I will update this article and add them on! I hope people don’t mind but sometimes in between trades I share my thoughts on the market (“This bull candle is a shakeout!” “There’s no volume at all on this drop! It’s a trap!” are such examples). Other than that, I do and will actively try to maintain a friendly but professional vibe in the channel and the group. See you all at the launch and Uniswap listing!