Marketplace Updates, Fixes, and Changes to Taboo Token
To avoid further confusion and provide something concrete, we have written this Medium Article instead of posting the AMA.
It has been a crazy week, since we went live with our Beta. It is still under maintenance. We know and apologize for the inconvenience, as the marketplace being up is as much a problem for us, as it is to you.
We were just as excited as the community, for the launch, and were just as disappointed when it didn’t go exactly as planned. We promised a lot and fell short. That ends with this article.
Through listening to the community, consulting with our Marketplace Developers, and examining the site ourselves, we have identified numerous minor bugs, that have been fixed as part of our 1st Beta V1 Launch.
The list can be found below, titled “Beta V1 Fixes.”
Here is what is positive and our plans moving forward.
A. There was a lot of confusion, following Majid’s AMA on 11/29/2021, as he did not have all the information he needed to provide accurate answers to certain questions. So, to avoid further confusion and provide something concrete, we have written this Medium Article instead of posting the AMA.
B. The Taboo Token Re-Distribution is being removed. And the Taboo Token Transaction Tax is being reduced to 4%. The LP Tax will be 3% with 1% automatic burn, to keep us deflationary.
C. We will be bringing in new groups of people, to help provide UI Design help, to make the Marketplace worthy of the Web 3.0 world.
D. The community will have direct access to the development team, through a Community Feedback form, at the bottom of the marketplace page, where you can submit feedback or support queries, with 24/7 Development Team Support.
E. You will be able to purchase Taboo on the platform, if you so desire, to make it easier to purchase NFTs.
F. We will be taking a good look at the current development process to ensure it is of the highest quality, making further issues rare.
G. We will not have any taxes on staking for both deposits and withdrawals with an APY of 16, to increase profitability.
If you staked prior to this Medium Article, please give @OGFoody your TXID and wallet, so that we know who you are and can refund the transaction tax you paid at launch.
H. Over 68 NFTs were purchased, while the site was live. Considering the small time frame that it was operational, that is pretty impressive.
I. As a way of commemorating early stakers and NFT purchasers, we will be providing one exclusive NFT, for free, from our next photoshoot in Malibu, to all stakers and NFT buyers from our Beta launch.
We will continue to give free exclusive NFT’s to anyone who stakes and buys NFT’s on our platform too.
We are constantly, on the lookout and listen to Community feedback and suggestions, that are constructive towards continuing to build the dream we all have. We encourage everyone to continue to share them. We are nothing without our community. Period.
STAKING AND FARMING UPDATE!
We have listened. There is no longer a tax on deposits or withdrawals, on the platform, for staking protocols. The total TOKEN transaction tax will be lowered to 4%, but it will not affect the staking. Taboo will bear the cost of the transaction tax. With the APY at 16% on staking and 20% on farming, the token value, per time period, is compounded according to the original principal AND the rewards received during that period. The lockup period for staking is minimum of 90 days. No lockup for farming.
(For the Math Minded among you: The formula for compound interest, on platform is is P (1 + r/n)^(nt), where P is the initial principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.
The amount you earn, is compounded weekly, for 52 weeks, for a period of 1 year, based on your principal staked and the rewards you earn.)
Beta V1 Fixes
- The amount of Taboo staked was not showing up, on platform, for certain users. The users need to click on “All Transactions” to see the staking amount and interest. Any further errors, should they occur, please contact us. (FIXED, Pending User Experience)
- There were Netcode errors that existed on the site. We are informed they have been fixed. (FIXED)
- Loading Speed. Everyone’s slower loading speeds was due to the scripts used for auto scaling for AWS was not responding and this caused the autoscaling process to become unstable as it was not running in the proper AZ (availability zones). This has been adjusted, so that it will not happen again. (FIXED)
- The website required the suffix “www” in order to work. The website SLA has been fully compiled and the name servers have all been uploaded, we were told. (FIXED)
- Search Bar was bugging out and causing Tiered content to be revealed, when the person did not have adequate Taboo to bypass the restrictions. It was caused by the server lag and the search bar, that is just above the images. These have been adjusted and fixed. (FIXED)
- What about NFTs that looked to be double minted? This was human error, with a few NFT’s duplicated on launch (>1 mint). Accidental back-end entries for more than 1 copy of each NFT, were written into the upload bar, thereby allowing for more than one mint. There is now a control gate that locks further purchasing, the moment someone clicks “Make a Bid” or “Buy Now”, to prevent this from happening, and locking the ability for anyone else to purchase that NFT, no matter the human error (FIXED)
- Some people bought images that were not turned into NFTs. Those images were demo pics, that the development team launched the website with, that were never removed. They have since been refunded their tokens. (FIXED)
- The mobile issues with the UI made it so that items were not seen correctly, or would not show up at all. Part of this was the server issues, due to the scaling error. What was not part of that has been optimized for mobile. (FIXED)
- Some people were unable to connect their wallets. This was caused by a bug in wallet connect. The development team will be individually logging every wallet, to check for issues. If anyone has any further trouble, please let us know. (Fixed, Pending User Experience)
Again, if there are any issues, please let us or our Marketplace Developers know, through the feedback form, once the website goes back up, so we can fix them as quickly as possible.
We are happy that we have resolved these issues and look forward to opening up our Marketplace again imminently.