Friends, we hasten to inform you about the upcoming changes that will take effect soon.
The energy cost in the SMART Blockchain network will be increased by 50 times. In the first stage, the energy cost will increase by 10 times. According to our estimates, this is expected to happen on January 8. The next increase will occur after the ULTIMA halving in February 2024.
Currently, the cost of energy spent on splitting transactions is only $0.04 (~22 SMART), which does not allow the SMART coin to grow properly. In the first stage, with a 10x increase in the energy cost, the average cost of a splitting transaction will be 220 SMART instead of 22 SMART. Our goal is to boost the growth of the SMART coin and raise the cost of the energy transaction spent on splitting to $2. More transactions = greater demand for SMART coins = price increase.
From January 8, the Pool Fee will also change — it will be canceled and set at 0%.The Burn Fee will be increased to 5%.
What does this mean?
If previously, to complete a ULTIMA transaction, it was necessary to pay an additional Pool Fee of 3% of the transfer amount, now this fee will be eliminated, allowing payments in ULTIMA without concerns: there is no need for additional tokens to pay the Pool Fee.
As for the Burn Fee, it will now be 5% of the transfer amount in SMART coins. Previously, this fee was 2%.
Changes in Pool and Burn Fees will be in effect only in 2024, after which they will return to their previous values.
Dear community, all changes are aimed at the long-term and stable growth of our ecosystem and its tokens! Into the new year, 2024 — with new goals and new horizons!
