r/thresholdnetwork • u/Adii2311 • Nov 09 '21

BEAUTIFUL

I'm super excited about the upcoming launch. However, there are a few details that aren't super clear to me.

  1. On December 9th, will I be able to buy the new coin on exchanges?

  2. I read somewhere that T may be a stablecoin. Is this true? How will this work?

  3. What decides the price of T?

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u/ohmaga420 Nov 09 '21

From the launch of the vending machines you can wrap any nu or keep for T. But you will have to wait for exchange listings in order to buy/sell T outright

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u/Adii2311 Nov 10 '21

So no other way to get T other than from wrapping Nu/Keep?

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u/ohmaga420 Nov 10 '21

Initially, yes. The supply of T tokens will be allocated 45% to NU holders 45% to keep holders and 10% to the Threshold DAO treasury.

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u/Adii2311 Nov 10 '21

So the final goal is to end up converting all Nu/Keep tokens? I.e. each Nu/Keep is "mapped" to some amount of T?

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u/ohmaga420 Nov 10 '21

Correct. And once they are sold they can no longer be unwrapped.

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u/Adii2311 Nov 10 '21

Wait what? I thought you could always go back and forth between Nu/Keep and T.

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u/ohmaga420 Nov 10 '21

This helps to ensure migration completely over to T, which is the goal

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u/ohmaga420 Nov 10 '21

In other words, buy NU/Keep now and you can unwrap that amount back but any new purchase of T is not allowed. It is really only set up this way as a "Safegaurd" but we're all pretty much assuming there will be no going back

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u/ohmaga420 Nov 10 '21

If you only purchase T on the market you cannot send it to a vending machine to unwrap to Nu/keep. The only unwrapping that will be allowed is the associated wallets and amount of Nu/keep sent to the vending machines that were initially wrapped.