TRAX Tokens

The Origins and Journey of the TRAX Token

The TRAX token was always intended to be a cornerstone of the Moose Society ecosystem. From the start, it was envisioned as a reward token that would incentivize community engagement and provide tangible value for participating in the project. However, like many aspects of the project, TRAX faced its share of challenges along the way.

Brian’s Role in the Early Days

The initial TRAX token contract was developed by Brian, our first developer, alongside the original NFT smart contract for the Meta Moose project. His work laid the foundation for the token, with the goal of distributing it to the community as a reward for holding Moose NFTs and engaging with the ecosystem.

Unfortunately, there were significant issues with Brian’s contracts. The first NFT contract he created had a critical flaw that caused NFTs to burn unexpectedly. Similarly, after an audit of the TRAX token contract, we discovered vulnerabilities that made it unsafe to use. These setbacks forced us to scrap the original contract and start over to ensure the token's security and viability.

From Reward Token to Real Utility

Despite these initial challenges, the vision for TRAX remained intact. The token was meant to evolve beyond being just a reward mechanism. The plan was to develop TRAX into a real token with liquidity, giving it actual market value while maintaining its utility within the Moose Society ecosystem. This included potential use cases like staking, gaining exclusive access to areas or features, and being integrated into future developments, such as The Sandbox metaverse.

Learning from the Setbacks

Brian’s early involvement taught us valuable lessons. While his contributions helped shape the foundational idea of TRAX, the flaws in the original contracts highlighted the need for more robust technical solutions. This led to the decision to rebuild the TRAX token contract from scratch, ensuring its security and alignment with the project’s goals.

A Token for the Community

At its core, TRAX was designed to empower the Moose Society community. Whether through rewards, liquidity-backed value, or utility within the ecosystem, the token was meant to give back to the holders who believed in the project. Although the journey of TRAX wasn’t without obstacles, its purpose remained steadfast: to provide a rewarding and engaging experience for everyone involved.

The story of TRAX is a testament to the challenges and growth that come with building something innovative. It represents both the hurdles we faced and the determination to create a meaningful token for the Moose Society community.

Key Aspects of the TRAX Token

From my calculations, I started with 5 years of rewards, there are still three years' worth of continued TRAX rewards remaining. This means that, even though the claiming system is temporarily unavailable, the contract will continue to accumulate rewards for you over this period. Your tokens are safe, and the rewards will keep building as originally planned, giving the TRAX system lasting potential for the community over the next few years.

TRAX Burning Mech

The TRAX token was designed with a built-in burn mechanism that would help increase its value over time. Each time you spent your TRAX tokens on the platform, a portion of them would be burned, reducing the overall supply. To date, over 10,000,000 TRAX tokens have been burned through this process.

Currently, there are 250M+ TRAX tokens in the project wallet, with the remaining tokens stored in your wallets from previous claims. Should we decide to reactivate the claiming system in the future, the number of tokens in the deployed wallet would gradually decrease as the accumulated rewards are transferred to your wallets.

This mechanism not only reduces the overall circulating supply, but it also helps create scarcity, which could contribute to the long-term value of the TRAX token for the community.

EDIT: ADDED 12/08/2024

After looking at the smart contract for the TRAX token, the above information is incorrect. I want to clarify some of the data. I will not delete anything I already typed, I just want to clarify after decompiling the bytecode.

The Smart Contract has a total supply of 10,000,000,000

The Main Wallet holds: 242,971,847

To-Date The Amount Burned is: 16,420,000

To-Date The Total Amount Across 163 Wallets: 9,529,587

Total Left to Earn or Mine: 9,731,078,566