🍯$HONEY Redemption

The details below are related to $HONEY mining from our HoneyPot Mining Bot

Thank You, HoneyPot Participants!

We sincerely appreciate everyone who joined the Colony and contributed their time, energy, and effort to participate in our HoneyPot Mining activation! After about 3 months of mining, we want to share some key statistics before diving into the redemption details.

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HoneyPot Mining Stats (as of Oct 30th 2024):

• Colony NFT Holders: 119

• HoneyPot SBT Holders: 432

• $HONEY Holders: 542

• Total $HONEY Mined: 161,878

Note: Stats to be updated when mining officially ends on October 28th 2024

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Redemption Details:

• $HONEY is a non-transferable reward token for participants of the HoneyPot Mining program.

• Mining will officially end on October 28th, 2024, after which we will take a snapshot of all wallets to determine your $SIN rewards.

5% of the total $SIN supply is allocated to reward $HONEY holders. This means 50,000,000,000 $SIN will be divided by the total number of $HONEY mined. You can calculate your share based on your $HONEY holdings!

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Redemption Requirements:

• To qualify for the $HONEY Redemption Program, you must hold at least 3 $HONEY in your wallet by the end of mining.

• This requirement can be easily met within 2 days of active participation. For assistance, join us in the Public Hive Telegram Group.

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Distribution Schedule:

The distribution will take place manually according to the following vesting schedule:

• Initial Distribution: 20% in November 2024

• 1st Month Vesting: 10% in December 2024

• 2nd Month Vesting: 10% in January 2025

• 3rd Month Vesting: 10% in February 2025

• 4th Month Vesting: 10% in March 2025

• 5th Month Vesting: 20% in April 2025

• 6th Month Vesting: 20% in May 2025

Distributions will be processed between the 2nd and 3rd of each month. You don’t need to take any action—just sit back and watch your rewards accumulate!

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Why Vesting?

We’ve implemented this vesting schedule to ensure a responsible and steady release of $SIN tokens. This approach protects the community and helps to prevent a massive sell-off of $SIN after our TGE (Token Generation Event), safeguarding the value of $SIN for all holders. By stretching the distribution over 6 months, we align with our Tokenomics plan to enhance the long-term value of $SIN, benefitting everyone in the SIN ecosystem.