RE: RE: HiveTunes - PROJECT CANCELLED
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RE: HiveTunes - PROJECT CANCELLED

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5y

Good idea,

I reached out to the hive team for some more information, but haven't heard back yet.

I will write a short post later about what I do know, and how to avoid it.

My fatal flaw was not realizing the token was being automatically distributed. I guess this was something in the initial setup I missed.

Every wallet had 200k TUNES ready to claim, and that would of devestated the project. Since the presale was only 500k tokens.

In an attempt to resolve this, I distributed the remainder of the max supply of TUNES to an account. My plan was to hold this until the Hive team came back with a resolution, and I would burn the tokens. That way nobody would be able to claim the tokens.

However, I was quick to learn you cannot modify the max supply after the token was created. I also learned that burning tokens does not remove them from the total supply.

Here are a few things I learned from this:

  1. Know what you are doing before attempting anything (burning, distributing tokens). My "Damage Control" was the fatal mistake.
  2. you cannot undo mistakes, so don't make them.
  3. SLEEP. I was up for about 50 hours straight, and was not making the best decisions.

Hopefully this can provide some insight. If it does, I will write an updated post to help other as well.