New Years SNOBANK update

December 2022 Update

As we approached the end of Q4 2022, we had been diligently working on the codebase and testnet deployment. In November, our developers familiarized themselves with the (now codebase before launching on testnet. However, we soon discovered that some contracts were not fully complete and began working on fixing the staking contract and building a new airdrop contract before deploying everything to testnet a 2nd time.

You can view our canary testnet deployment on our staging site here. While our development team has competing priorities at this time and is not yet ready to fully support users on testnet via the faucet or otherwise, we will be providing updates on our progress towards that goal in Q1 2023. We are excited to continue working on bringing a high-quality product to the DEFI space and appreciate your patience and support.

Addresses for Blizzard Testnet 2:

  • staking contract: secret1npzykfytf2y0wxymwhjtg7pp39jzg4r62yzreh
  • vault contract: secret1zhx92zg24fwnxp2w0mwc7k3y6hv0mx77q726f7
  • SCRT: secret17w9enysr3aenj7d0hurcd9r60snplufw03fqf9
  • AxlDAI: secret1pj3tlpzw0xw587u3c6v3tv9u6dju64smt6tr38
  • AxlUSDC: secret1d4pjjv3f4qy6gm407puvgxut4zy60evwm6cxel
  • sATOM: secret1n94hygkpr9rtjwekshgrjn6r8pn0edv5ze2npe
  • ALTER: secret1rddl84tm7gz6ym3ld5h2rkpqxl58qcldtnc54r
  • sXMR: secret10524pk68g5lpwdnxt3ep72tyl4rh42l2lkym8j
  • SNO: secret18qulv538z08xh8qu9medg7unwc5j4rk5yhntgs

Late December after we got everything working, we took some time to reconsider our path forward and here’s what we came up with. First, we had been waiting for the contracts to be in a better state and tested further before any money was raised for Blizzard. In our experience we can say, it’s best to have a product first before raising any money and this is also better from a trust and compliance perspective with products involving a token. Outside of that, with multiple dex’s launching on Secret in the first half of 2023 and the nature of DEX’s largely depending on mercenary capital, we don’t actually see an advantage to rushing out to be first. However, the $SNO token itself from the contract “snobank” was successfully launched on Dec 31st, 2022.


Q1 2023 plans

Having the token live is a way for us to signal our intention to continue launching the rest of our product and building a competitive product that can earn liquidity. We understand that the blockchain and DEFI space are constantly evolving, so it is important for us to remain adaptable. Our target launch for Q1 2023 includes mvp features for SecretDAO governance, completing the hardening, fine tuning, and testing of, as well as finishing the Staking Derivatives outlined in the (now grant post. Although the staking derivatives code was not built out by the previous team, we have a solid starting point for these efforts. Additionally it is now possible to work on securing funding based on a working product rather than just promises.

Distribution changes

Changes to distribution are as follows. 8.5% Airdrops & other external incentives, 4% Launch Costs, 15% Protocol owned Liquidity, 38% Liquidity mining, 27% Dev Fund, 7.5% Private Raise. Total Supply 42 Million. (Edited: original posting of this had old draft numbers)

Airdrops info

Catyclops NFTs 2%, Ample Agent NFTs 0.0113%, OG Anons 0.018%, 6.4707% SCRT stakers.

The total supply changes are locked in as of token being live. However, we will provide more detailed information on the granular details as we launch the Blizzard DEX. Between now and the DEX launch, it is possible that we may slightly adjust the SCRT airdrop and increase the allocations for other eligible groups (by approximately 0.4707%). Any changes will be based on feedback from the community. Please note that full allocations will not all be claimable all at once.

We are deeply grateful for your support and appreciate your patience during this challenging bear market. Especially the catyclops holders as we could not have gotten this far without you. We are excited to bring a high-quality product to the DEFI space, secret, and appreciate your support. Upward and onward!

Sincerely, Team Blizzy

Notice: This notice serves to inform you that the information presented in this post is for general informational purposes only. It is not intended to be relied upon as investment advice or a solicitation and does not constitute as either. The content may be subject to change at the authors’ sole discretion and any such changes will be consistent with what has been previously communicated. Please do not rely on this information for investment decisions.