Strategy Change

BARK Token Burning Plan, Strategy, and Roadmap

BARK Token Burning Plan, Strategy Updates

The BARK Protocol aims to enhance token value, support Raydium liquidity pools, and minimize misunderstandings through a strategic token burning plan and upgrade process. This plan involves burning all old BARK tokens and redistributing new tokens with the same main tokenomics but under a new contract address.

Objectives

• Reduce Total Supply: Decrease the overall supply of BARK tokens to increase scarcity and value.

• Support Raydium Liquidity Pools: Ensure the new token supports and integrates seamlessly with Raydium liquidity pools.

• Engage Token Holders: Involve the community in the burning process.

• Maintain Network Efficiency: Ensure smooth operations during the burning process.

• Minimize Misunderstandings: Replace old tokens with new tokens, ensuring clarity and transparency.

• Update Technical Details: Introduce a new contract address and account while maintaining the same main tokenomics.

• Ensure Adequate Liquidity: Plan and execute a sale to build a larger liquidity pool for smooth transaction operations and market stability.

Steps for BARK Token Burning and Upgrading

1. Disabling Transaction Fees

   • Temporary Fee Waiver: Transaction fees on the BARK Protocol will be temporarily disabled to facilitate the burning process.

   • Notification: Token holders will be informed in advance about the fee waiver period.

2. Token Burning Process

   • User Participation: Token holders send their old BARK tokens to a designated burn address.

   • Solana Transaction Fee: Users incur the Solana transaction fee for sending BARK tokens to the burn address.

   • Burn Address: The burn address will be publicly shared and monitored for transparency.

3. Verification and Confirmation

   • Audit: Burning transactions will be audited to confirm the total number of tokens burned.

   • Public Ledger: All burn transactions will be recorded on the blockchain for verification.

4. Redistribution of New Tokens

   • New Token Distribution: Post-burning (processing), new BARK tokens, compatible with Raydium liquidity pools, will be minted and distributed to holders based on the snapshot.

   • Distribution Ratio: New tokens will be distributed proportionally to each user’s fill form and airdrop participants.

   • New Contract Address: The new tokens will have a different contract address to distinguish them from the old tokens.

5. Support for Raydium Liquidity Pools

   • Integration: The new BARK tokens will be integrated into Raydium liquidity pools.

   • Liquidity Provision: A portion of new BARKs will be allocated to Raydium liquidity pools to ensure initial liquidity and support trading activities.

6. Resumption of Transaction Fees

   • Reactivation: Transaction fees on the BARK Protocol will be reactivated after the burning process.

   • Announcement: An official announcement will be made regarding the reactivation of fees.

7. Communication and Education

   • Clear Instructions: Provide detailed instructions to token holders on the burning and new token distribution process.

   • Support Channels: Establish support channels to assist users during the transition.

8. Pre-sale Option?

   • Decide and Plan BARK Token Presale and Campaigns at Pinksale: Conduct a pre-sale to build a larger liquidity pool for transaction operations and market stability.

   • Pre-sale Campaigns: Implement strategic marketing campaigns to promote the pre-sale.

Benefits of the Updated BARK Token Burning Plan

• Enhanced Liquidity: Supporting Raydium liquidity pools ensures better trading conditions and market stability.

• Community Engagement: Involving the community in the process enhances trust and participation.

• Network Efficiency: Temporary suspension of transaction fees ensures cost-effective and smooth operations during the burning process.

• Clarity and Transparency: Replacing old tokens with new tokens minimizes misunderstandings and ensures clear communication.

• Technical Upgrades: Introducing a new contract address and account while maintaining the same main tokenomics ensures a seamless transition.

• Adequate Liquidity: Conducting a sale ensures a larger liquidity pool, facilitating smoother transaction operations and market stability.

Roadmap

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Phase 1: Preparation

Q4 2023 - Q2 2024

• Research & Development: Finalize upgrading the BARK Protocol token sale, airdrop campaigns, strategic plan, and development.

Q2 - Q4 2024

• Community Building: Initiate community engagement and marketing campaigns.

Phase 2: Announcement of BARK Token Presale and Launch

May 20 - June 30, 2024

• Research, Strategic Changes & Development: Upgrade the BARK Protocol token sale strategy, including the decision to forgo pre-sale and private sale campaigns.

• Problem Solving: Address issues with Token-2022 support from liquidity pools and DEXs, which may require waiting for app support for the new token standard.

• Promotions & Marketing Campaign: Collaborate with influencers to promote the BARK airdrop campaign and token sales.

• Continue Marketing and Community Building: Intensify community engagement and marketing campaigns.

• Announcement: Public announcement of the BARK token sale.

Phase 3: BARK Airdrop Campaign

June 24, 2024

• Airdrop Marketing Campaigns: Intensify marketing efforts to attract a broader audience.

• Airdrop: Conduct the public sale of BARK tokens, making them available to all interested participants.

• BARK Airdrop Campaign: Initiate the phase of the BARK airdrop distribution.

• Technical Support: Provide airdrop and investor support to guide users in adding custom tokens to their wallets.

June 24, 2024

• BARK Airdrop Campaign 2/2: Complete the second phase of the BARK airdrop distribution.

July 2024

• Refactor BARK Token and Burn Old Tokens: Not allowed trading activies, reduce or remove old tokens from the market and implement strategic changes.

• Snapshot: Take a snapshot of Solana blockchain and BARK token holders and addresses.

• Develop New Airdrop and Vesting Schedule: Plan and execute changes in the distribution plan.

• Decide and Plan BARK Token Presale and Campaigns at Pinksale: Conduct a pre-sale to build a larger liquidity pool for transaction operations and market stability.

Phase 4: Public Sale / DEX Listing

July to August 2024

• DEX Listing Process: Start listing BARK tokens on decentralized exchanges (DEXs) to ensure accessibility and liquidity.

• Refactor BARK Token New Listing Process: Implement strategic changes to address previous launch issues.

• Marketing Campaigns: Intensify marketing efforts to attract a broader audience.

• Liquidity Pools: Establish and incentivize liquidity pools on DEXs to enhance token liquidity and stability.

• CoinGecko and Jupiter Aggregator Listing: Ensure compliance with listing requirements and add more liquidity.

Phase 5: Post-Sale Activities

August 2024

• Continue Marketing and Community Building: Intensify community engagement and marketing campaigns.

• Distribution: Distribute bonus BARKER tokens 14 days after the official announcement, rewarding early supporters on a 1:1 basis with their purchased BARK tokens.

• Exchange Listings: Begin the process of listing BARK tokens on major cryptocurrency exchanges.

• Snapshot Date: Take a snapshot of eligible token holders.

Phase 6: Continuous Updates and Development

• Continue Marketing: Intensify marketing campaigns.

• Community Updates: Provide regular updates and reports to the community on the progress of the BARK Protocol.

• Ongoing Development: Continue to develop and improve the BARK Protocol based on community feedback and technological advancements.