$MILE Token: The History, The Now, and The Future — Part 1

milestoneBased
4 min readJan 7, 2024

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The History

$MILE is token focused on continually changing the way people look at startups in the web 3 space with this in mind we launched $MILE a little differently to others. $Mile was launched through the concept of Power Launch where there were no pre-sales to investors before the launch of the token.

Due to the migration of the liquidity, two separate trading pairs charts explicate the price move of the token:

The token was launched on March 24 2022.(perfect timing we know) When the crypto winter was confirmed shortly after, we had to make choices for the most efficient use of the treasuries, and it led to few non obvious decisions:

CEX Listings

Listing on an exchange looked pricy, and with the crypto winters leading to major black swan events with the CEX insolvencies, we had to retain $MILE on a decentralized exchange — Pancake Swap.

Market Makers

For the most part of it, we did not hire a market maker, which makes the volume of $ MILE to be organic.

Speculative Exposure

We have avoided exposure to short term token speculators. As anyone can verify on bscscan, our token holders have been the long term holders.

Reduced Selling Pressure

The $MILE token demonstrates notable resilience in its market behavior, particularly in terms of selling pressure and value retention. This stability sets it apart from other low-cap altcoins. A key factor contributing to this trend is the innovative Power Launch strategy employed during its introduction.

This approach effectively mitigated the typical scenario where early investors, especially those from pre-sales, realize significant profits soon after the token’s launch. In many cases, such rapid gains can create a long-term, unsustainable economic burden for a token. However, for $MILE, the Power Launch concept has been instrumental in fostering a more balanced and sustainable economic environment, supporting the token’s ongoing stability and potential long-term growth

The Now: Preparing $MILE for Leapfrog

As we look back, it’s clear that certain decisions, though they may have temporarily slowed the pace of price traction, were instrumental in channeling both financial resources and managerial efforts effectively towards the development of our product.

Despite a period of relatively stable price action, our team has been diligently focused on enhancing blockchain functionalities with a keen emphasis on maximizing token utility.

This development includes several key features:

  • Entity Smart Contract Creation: Facilitating seamless and secure contract deployment on the blockchain.
  • Tiered Staking: Offering a structured staking system that rewards commitment and promotes token stability.
  • Airdrops: Distributing tokens to foster community engagement and reward participation.
  • Escrow Fee Distribution: Implementing a fair and transparent system for fee allocation and distribution.
  • Voting Power through $MILE Staking: Empowering token holders with voting rights, ensuring their voice in key decisions.

These advancements are part of a broader strategy aimed at solidifying the foundational structure for our token holders. This approach is not just about short-term gains; it’s a commitment to creating long-term value and utility for our community. We believe that the benefits of these developments will become increasingly evident as we continue to progress and grow.

Long-Term Holders:

Objective: To provide consistent rewards through airdrops, contributing to the growth of their $MILE holdings. This not only increases their token balance but also potentially boosts the absolute value considering future appreciations of $MILE.

Current Status: Approximately 160 addresses are identified as long-term holders.

Early Adopters:

Target Group: This includes users, projects, and investors.

Strategy: We are committed to offering optimal pricing for early users who utilize the full range of our platform’s capabilities. A significant part of our marketing efforts is directed towards attracting high-quality Web3 projects. These entities may choose to acquire a substantial amount of $MILE for staking purposes to earn $sMILE and enjoy the various benefits associated with it. (Further details available in our Staking Memo).

Communities of Onboarded Projects:

Approach: Strategic onboarded projects are encouraged to promote the usage of our platform and the accumulation of $MILE within their communities. This will potentially elevate these projects in our governance indexes once the governance component is live. Communities can stake a combination of their native project tokens and $MILE to participate in governance and receive airdrops.

General Public:

Visibility and Growth: Through collaborations with key opinion leaders, targeted marketing campaigns, exclusive airdrops, and listings on centralized exchanges (CEX), we aim to enhance the visibility of $MILE among the wider crypto audience. Our projections indicate that the general public will likely enter at higher price points, validating the decision of early investors to support $MILE.

Our nearest plans include the launch of exciting token utility features and full-blown awareness campaigns. This will offer optimal entry prices to all early adopters who want to join milestoneBased right now.

TO BE CONTINUED

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milestoneBased

Revolutionizing milestone management and capital efficiency for crypto investors and startups, using the power of a blockchain DAO and smart contracts.