Unleash the Fabric Token?

Unleash the Fabric Token?

Over the past few weeks, the prevalent conversation in the official Fabric Token Telegram group has been almost all about whether or not we should keep transfers on FT locked. Naturally, there’s people on both sides of the argument so, in order to make the best decision possible, we have decided to create a very simple survey where every FT community member can give their opinion on the matter.

However, before you get to the survey and submit your response, we will list a few factors that might influence your final decision. Informed opinions are very important to us and we want everyone to take said factors into consideration before submitting their response.

In the end, it doesn’t really matter to us as a team if the tokens remain locked or are unlocked. We kept them locked due to popular demand towards the end of the FT crowdsale. But, we are always ready to adapt and as the market has recovered progressively over the past several weeks, we think that it is high time we revisit the matter and have another vote.

Factors to Consider

  • Allowing transfers on Fabric Tokens now means that the price for the token will be set (by token holders) before we launch TokenGen 2.0 and before we list FT on a centralized exchange, thus naturally creating an opportunity for the token valuation to react to those events.
  • The market conditions seem to be good at the moment, but nobody really knows what will happen. In the cryptocurrency world, markets can have extremely high volatility, thus creating two possible outcomes from unlocking transfers on FT: ETH’s price goes up or it goes down. Both will most probably influence FT’s price in the respective manner. However, this factor will apply regardless of when we unlock transfers on the token.
  • Unlocking will mean that we will not long after begin to distribute bounty tokens. However, as promised, this will happen gradually as we want to limit the risk of bounty participants dumping tokens as soon as they get them.
  • Unlocking transfers will also allow for the token along with our project to gain a little bit more popularity before we even roll out the planned TokenGen update and respective marketing plan at the end of the month.

The Survey

After you have taken into consideration the above factors, feel free to find the survey here: https://docs.google.com/forms/u/1/d/e/1FAIpQLSegFmQk9uXCqS-Ps0Z20HWd798wLlOPGoXGZGByxQRXu3r6Lw/viewform

It is a very simple Google form with just one question. We have decided to let the survey run for 3 days in order to get as many responses as possible. Once these 3 days have passed, we will share the results with the FT community and then decide how to proceed.

If we have to be honest, we are more inclined towards unlocking as we are really interested how the price of FT will settle compared to its crowdsale price (0.000125 ETH per 1 FT) and well, we have kept the token locked long enough.