Getgems Spring Party: Explanatory Squad

Getgems Spring Party: Explanatory Squad

AM

Over the past day, we've faced criticism regarding the rules we've set for "freeminting." We've re-evaluated the situation and would like to invite you to check out an article explaining the technical nuances, aiming to bridge the gap of misunderstanding between us and the community.

Holding nothing back, in the spirit of new sincerity and openness, as preached in the finest traditions of a "decentralized society."

Why is what we've dubbed "freeminting" priced at 0.3 TON instead of the usual network fee of 0.07 TON?

The essence behind the term "freemint" implies that participants pay only the network fee and nothing more. If more than what's expected is collected, the excess should instantly be returned to the user's balance.

Context: within the community, there have been critical sentiments and an unfriendly narrative has been pushed, suggesting that we're selfishly pocketing 0.219 TON from the minting total into our Getgems wallet. "Cringe, disrespect, scam" - a frequent focus in the critique of the rules. It grabs attention but not without a hint of insincerity.

In short, preempting a burning question: 0.219 TON will be refunded to everyone who minted tickets in the first round of the Getgems Spring Party.

How is it technically justified that this isn't freeminting?

Here's the scoop: we had a smart contract for the launchpad and the idea was floated that 0.3 TON is practically nothing. By setting such a low entrance fee for participation in the draw, one could say it's freeminting.

Since the launchpad sells NFTs, any remaining TON coins always go to the owner of the launchpad. It's not just about the smart contract that provides for returning the remainder (minus the fee) to the user. The user-friendly interface and experience provided by the launchpad, as well as the logic and infrastructure support, are also crucial.

And that remaining balance, one way or another, would accumulate in upcoming activities for the Getgems community.

What happened to the Supply of tickets on the launchpad for the first stage on the stated minting end date (March 24th)? How did we go from 16,000 tickets to 90,000?

Originally, the mint was organized for owners of NFTs from the Getgems Domains collection. Currently, the domain collection has around 86,000 NFTs, hence the figure of 90,000 tickets with a slight buffer.

Our goal is to involve as many community members as possible in the activity and give them the opportunity to participate in the draw.

Some considered it an oversight on our part not to mention the final supply. For us, it was not obvious to note that the supply would remain at 16,000 as well as to note that we plan to increase it. We held the thought that two set limits (NFTs per wallet, and necessity to hold a collectible from a specific collection) were sufficient for a general understanding of what was happening.

Of course, in the real world, 100% conversion of NFT holders into new activity and a sellout with 90,000 tickets on the launchpad is a rosy dream. But why not dream and explore such a possibility?

So, the ticket supply is limited not by quantity, but by access only for those participants who have the necessary NFT on their wallet from a specific collection.

To avoid mass purchases using bots, a limit is set: 2 tickets per wallet.

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Spring Party is an experimental entertainment activity for the community, offering our platform's fans the earliest access to the event.

There won't be enough mathematics and perfectly balanced proportions.

In the release, something is bound to go awry, as no one knows how it will be "right," and everyone is wise in hindsight.




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