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marcosw451

Letter to TXT Holders 2021

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Hello everyone! 

We have just released some important notes about TXT, including the next steps towards its future growth. Check this out here.

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Do not hesitate to add to the discussion. In case there are any questions about the token, please reach out to us. We would really appreciate your thoughts and comments.

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My open letter to TrustDice community and Team:


I've been sending a few messages via customer support over the last year with suggestions and concerns, more specifically about TXT as I hold a good amount of this token but they all eventually end up in frustration.


I know loads of blockchain casinos and in my opinion TrustDice have the best UI and was always the one with the better rewards even though it used to share only 50% of Dice profit.


I have always been contacting customer support to hear about updates on the roadmap and TXT and I was surprised by the open letter sent to TXT holders saying that you will cut the dividends from 50% to 10% of Dice profits.
I was always expecting you to come forward and announce more use cases to TXT and not cut the dividends. According to the letter, you are cutting the dividends to buy back TXT to improve liquidity and increase the TXT price following the BNB model with the goal of reaching $1bi market cap by 2026.


IMHO, I don't see how you are going to achieve that by cutting dividends as you just divided TXT value and its market cap by 5 by doing so. If you artifically increase the demand of TXT by only buying it back, holders will sell it to move to projects with better APY, the price will adjust and TXT value will decrease by 5 as I just mentioned.


Lets take Binance as an example. Binance buy back BNB and burn it, they dont need to improve liquidity because they have loads of use cases for their token (staking, gas fees, etc). As a casino, Trustdice should follow the good examples in the market:


1) Burn TXTs. It could be done by buring some of the bought back TXTS or a % of staked TXTs on lost bets.
2) Improve liquidity by adding the token in a good CEX. If you want to give it more marketing, move the tokens to BSC (ERC-20 network is still too expensive). I think this might be already in your roadmap. Not saying buying back is not a good idea, cutting 80% of the dividends to do so might not be ideal.
3) Give it more use cases. For example, a fraction of Live or crash games profit. Taking Wink as an example here, they share 50% of all casino wide profits, have other use cases for their token and their market cap is $500mil. I know the online gambling market will grow double digits in the next few years but
4) You are doing a great marketing job. Keep with it.
5) Currently there's no TXT holders community, only TXT holders. I'd be really good to have a TG channel open for people to discuss ideas.


The message here is, please, don't cut dividends, this is the worst thing you could do and if you feel you have to do it to improve liquidity, cutting it by 80% (40% of the 50%) is just too much. Not to mention that the Team increased the staking amount by more then 30% diluting even more the final dividends.


At current APY and due to recent announcements, I am afraid there's no incentive to keep holding TXT so really hope the Team will come with further positive announcements.
 

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I do not see an option to login with my eos wallet any more.
I had staked many TXT .... where is my refund ? How can i Unstake?
I am banned from telegram. 
What the hell am i supposed to do ?

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