Major update about Answerly tokens

Hello Stellar Family,

So finally it’s time for the **big news** — or should I say 2 big news. I know most of you guys speculated about Answerly tokens being listed on bigger exchanges and you’ll be glad to know that we also have something to share regarding it — but the actual announcement is much bigger than that. We’ll get to the listing info in a bit.

Main News

So guys, if you’re currently holding any amount of Answerly tokens ($ANSR), you’ll be amazed to know that you’ve just x50 on your investment *literally*.

Let us explain!

When we first minted Answerly tokens on the Stellar blockchain, we decided to mint 30 million tokens. Over time, we realized that in order to make the circulating supply more sense, we needed to increase the circulating supply by at least 50 times.

As you all know, Answerly is a Questions / Answers platform (similar to Quora) that’s built on the Stellar blockchain. If we take an example from the existing Q/A platforms, these have tens of millions of questions.

As of 27th Aug 2021, Quora has over 98 million questions. Previously, Yahoo answers (now defunct) also surpassed over 250 million questions. Considering this, it’s safe to understand that 30 million Answerly tokens won’t be enough to sustain the requirements — unless we start halving the “best answer” rewards at a certain point.

After carefully analyzing our options, we decided to increase the total supply of Answerly tokens from 30 million to 1.5 billion (x50 increase). We’ve planned this event for 1st September (00:00 EST) after which we’ll lock the supply so that no more tokens are minted.

We will take a snapshot of ANSR token holders on (1st Sep 00:00 EST) and anyone who holds any amount of ANSR will be entitled to x50 more tokens.

In simple words, if a person holds 1 ANSR, he will receive +49 more tokens. That’s an instant x50 return. Insane, right?

Airdrop participants

Once we’ve distributed the bonuses to the token holders, we’ll start with airdrop distribution the very same day. Token holders who participate in the airdrop before 1st SEP 00:00 EST will be entitled to x10 bonus. The initial airdrop was set to 10 ANSR per participant but now it’s going to be 100 ANSR.

Since the airdrop is ongoing until 15th Sep, anyone who participates after 1st Sep will receive the regular 10 ANSR rewards, so make sure you set up a trustline for Answerly token by then.

But wait! That’s not it…

We’re proud to announce that we’re considering listing Answerly token on the following exchanges:

• Probit (~$200,000,000 daily volume)
• Dex-trade (~$200,000,000 daily volume)
• Vcc Exchange (~$50,000,000 daily volume)
• Stex (~$25,000,000 daily volume)
• Mercatox (~$25,000,000 daily volume)

The actual listing dates will be announced in the coming few weeks.

As you may know, we’ve also participated in the ongoing Stellar Community Fund. Hopefully, if we make it as one of the winners of this round, our next goal is to list Answerly token on Kucoin. For those who don’t know, Kucoin is considered to be one of the biggest and the most reputable exchanges that we have. The total daily volume ranges around $1.5 billion — $2 billion, so that’s a lot of liquidity for Answerly tokens.

We understand that some of you guys may have a lot of questions and for this reason, we’ve also decided to conduct an AMA on Reddit on 5th SEP. We’ll answer any queries that you may have.

That’s it for now folks. We’re truly thankful for the immense support that you’ve shown Answerly in the past few weeks. Answerly is on its way to becoming one of the biggest Q/A platforms and you’ll be proud to be a part of it.

On a final note, don’t forget to snap up Answerly tokens by 1st Sep to receive an insane bonus of x50. Have a nice day!

Regards,

Raza Rizvi