We Have Lift Off!!! Tamil Charity Coin Is Launched
We are excited to announce the long-awaited launch of our Tamil Charity Coin.
As you all know that steemit could not launch the SMT as planned in March. And they have not provided an estimated date of launch. It looks like that their priorities have shifted to something other than
SMT.
But fortunately for Steemians waiting for the release of SMT help has come from Steem Engine in the form of Smart Contract Tokens (SCT).
Rather than waiting for SMT, we decided to launch the Tamil Charity Coin on steem engine side chain and reward our steemian friends who is supporting our charity work sooner rather than later.
We sincerely thank all our supporters for waiting patiently and supporting us all along.
We promised you that the SMT reward for your upvotes would be based on your upvote value we still don't have a coder to help with that. So we decided to reward you with one-time airdrop of 50 Tamil Charity Coins which would be a lot more than double your total upvote value so far.
The purpose of launching our own coin is to expand our charity work and make it self sustaining. Therefore the token has to find an intrinsic value. In the long run, the free market will determine the price of any token traded on exchanges. But setting the initial price of a token is not an easy task.
We have come up with the idea of setting the initial price of Tamil Charity Coin to the Steem Power of the account @tamilcharitycoin holds except for the initial airdrop. It means no additional tokens will be paid out or get into circulation that exceeds the @tamilcharitycoin account steem power.
This way our coin will be backed by a recognized value by steem community namely the value of steem power until it finds its own value in the open and free market. We are also planning to add more value to our coin with for-profit projects in the future.
We will start with the internal airdrop today. Everyone who supported us with their upvotes will be gifted with 50 tokens of Tamil Charity Coins(Tamil Coin). But it will be done manually, one airdrop at a time. It will be a while before you get your airdrop, please bare with us.