What’s next for Froge?
Now that we’ve been able to analyze and determine what went wrong, what went right and what areas required improvement, We have have been working relentlessly.
Change of heart.
As we discussed in the First Medium Article (What’s Froge?), The V1 FROGE smart contract was hardcoded to send 0.1% of each transaction directly to the wallet of the Cool Earth Foundation. This was decided entirely on his own accord by “Vendetta” the contract creator. Since he renounced ownership of the contract and disappeared shortly after launch, the team had no way to alter the contract.
Due to the on going Environmental Concerns over Bitcoin Mining at the time the Cool Earth Foundation stopped accepting Cryptocurrencies. This rendered our efforts useless as they did not cash in on any of our donated FROGE tokens.
“We have in the past accepted several coins. Digital currencies make up a higher and higher proportion of transactions globally, including donations to charities, and whilst we are of course very grateful to donors who chose to support Cool Earth in this way we cannot accept any more at this stage.” -Cool Earth [SOURCE]
Being restricted to one charity by the contract is problematic. This is something we wanted to improve on for our V2 Contract, FrogeX. We created a dedicated Charity Wallet, the “Froge Forest Fund”, it receives 1% from each transaction in the form of ETH instead of the native token. This is highly beneficial for maintaining stable price action because it does not create any sell pressure on the FrogeX token when we make large donations.
Thanks to the hard work of our outreach team, we are incredibly proud to have currently secured partnerships with two amazing Non-Profit Organizations.
“We [ONE TREE PLANTED] want to make it simple for anyone to help the environment by planting trees. Together we can restore forests, create habitat for biodiversity, and make a positive social impact around the world.
We plant one tree with every dollar donated.
ONE DOLLAR. ONE TREE. ONE PLANET.”
We strongly encourage you to take some time to read over their website and understand their mission. As a way to show our support for the tree plantation movement we encourage you to add ($1=1🌲) to any #FrogeX related social media posts!
“The mission of the Rainforest Foundation is to support indigenous and traditional peoples of the world’s rainforests in their efforts to protect their environment and fulfill their rights by assisting them in Securing and controlling the natural resources necessary for their long term well being and managing these resources in ways which do not harm their environment, violate their culture or compromise their future; and Developing the means to protect their individual and collective rights and to obtain, shape and control basic services from the state.”
Please take the time to visit their website and understand their mission.
An Image change for Crypto.
Many would agree that better public perception leads to better adoption for anything. That’s why PR firms exist! Our goal is to alleviate the entire crypto space out of the “Crypto is bad for the environment” stigma. This of course cannot be attained over night, it is a tough road ahead. As we keep growing as a project in volume, community size, and partners, many amazing milestones will be achieved. We look forward to reaching our 1 Millionth Tree planted goal within less than a year after the Launch of FrogeX.
What about Sustainable Crypto?
One of the most common questions we receive is regarding our decision to launch FrogeX on the Ethereum Mainnet. Why not Polygon? Why not Fantom? The simple reason is that Ethereum has the highest on-chain volume at the moment. This is very important for the initial growth of a project.
Ethereum currently runs a Proof of Work (PoW) consensus protocol just like Bitcoin. This means that transactions are validated by mining. Ethereum 2.0 has been under development for a few years now and it aims to be Proof of Stake (PoS) which is Emission free and Sustainable. Bitcoin will always be Proof of Work due to it’s nature. Almost 19 out of the total 21 million BTC have been mined, but due to Bitcoin Halving the remaining 2 million BTC will take till 2140 to be completed. As long as Bitcoin reigns supreme, Proof of Work isn’t going away for good. This means that the the FrogeX movement will continue to keep fighting the good fight.
A big flaw in the Original Froge Contract on Ethereum was the lack of a built in marketing wallet. This meant that all the promotional efforts were being paid for by individuals in the community and team instead of a dedicated marketing wallet. We were able to add a marketing wallet when we launched on BSC and this allowed us to pay for things such as big billboard adverts like these.
With FrogeX we have coded in a 1% tax for all transactions which will go to the Marketing Fund. This will allow us to expand our outreach projects at mass scale. Get ready to explain to grandma what the frog logo on her TV is.
What separated FROGE from all the meme-coins that died through the summer of 2021 is it’s strong HODL base. Many didn’t even break a sweat as they watched zeros fall off. These are individuals that have the foresight to see what’s coming. We wanted to reward those that value holding on to their FrogeX assets. Which is why we incorporated a 2% tax on every Buy transaction and a 4% tax on every Sell. This will be split up and rewarded to each HODLer in proportion to the size of their holdings. This is a significantly higher reward system than that of the Original FROGE. Another change is that the rewards will be processed by the contract in the form of ETH instead of the native token FrogeX. This will reduce sell pressure on our project and save everyone a lot of money spent on gas in the long run.
The Decentralized Autonomous Organization (DAO).
In June 2021, the FrogeDAO was created by the team. A DAO is a self-governing organization that’s collectively owned and managed by its members. Decisions are governed by proposals and voting to ensure everyone in the organization has a voice. This allows us to make beneficial changes to FrogeX as we see fit for different circumstances. Things such as the Buy & Sell Taxes can be toggled on and off through a vote held by the FrogeDAO. New partnerships and marketing ideas can be weighted, discussed and voted on. We invite our most committed members to join our DAO in order to help steer FrogeX in the right direction.
“When FrogeX airdrop?” -Everyone
We’re pleased to say that most of the major hurdles have been passed in our development. We have now been in a “Tweak and Optimization” phase for the past few weeks as our legendary developer tirelessly works on it. Most of what is currently being tackled is Gas Optimization which will make our transaction fees some of the cheapest on the network once deployed.
This FrogeX Flow Chart above easily breaks down the technical process of our contract. We will be making another article this week with more detailed developer updates. We invite our community members to start creating chatter online regarding FrogeX as we Wrap up the Contract. We value your patience and commitment to FrogeX. Stay Tuned for the next update!
Semper Frogdelis 🐸