Where BOMB went wrong
The trouble with our predecessors lie in the way tokens are created and handled. If you look at their source code you'll notice that immediately
upon deployment the smart contract mints (creates new tokens) all of the total supply to the creators' address. From there you can trace transactions
to multiple smaller wallets, but that's all they are- just regular wallets with private keys still in the hands of the owners.
Tokens are then eventually airdropped to participants from a massive wallet that the owners themselves control. They claim to have sent them away
to "colder than cold" storage, but the only way this was possible would be if these wallets were smart contracts with a timelock mechanism built into
them that would release tokens only after a certain period of time. Unfortunately this is not the case with any of our predecessors and sooner or later
they will be forced to dump their tokens on the market.
Think about it. If you owned 100k of a token that was suddenly worth 10-100 million, wouldn't YOU dump it on the market? There will always be a
certain price limit where plain and simple greed kicks in and all you see are lambos. It's just human nature and that is why we believe humans should
not have access to the total supply in the first place!
And if you somehow believe that the owners are not like that, if you believe they are honest and good people, what about the fact that their market
share is constantly increasing now that the total supply is shrinking every single day? Sooner or later, even if they didn't care about lambos, they
would be forced to sell parts of their holdings just to remain with a small enough market share that investors would still take them seriously.
Otherwise the whole project would crumble.
YAB token has no reserved admin funds
While our predecessors may have had only the best intentions in mind, you can't help but wonder when they'll decide to drop their bags on the little guy.
But what if we had an asset with no whales? What if said asset would be spread out more evenly to a lot more people?
It is our goal to continue the social experiment that BOMB started with a more open and democratic approach. That's why we don't reserve anything to ourselves and instead
airdrop 100% of the total supply to the people.
In fact our smart contract doesn't allow us to have access to the total supply in the first place. You are the only one responsible for creating new
tokens to yourself. The airdrop is essentially an agreement between you and the smart contract :)
And to make the experiment even more fun, we will not punish you for spreading rumors or blatant fud because this type of human behavior is a part of what
this experiment is trying to study.