🍯Renewals

Under this protocol, all holders will require to renew their Alpha Sharks every six months directly via the Smart Contract to continue earning Shark Tokens and using holder exclusive services.

Minted Alpha Sharks are not required to be renewed for 12 months.

Why is this needed?

We have implemented this after a lot of thought, and I am sure you'll be convinced.

Let's first understand the challenges with business model of the Alpha Sharks Project.

The Challenges

1. Cost of operations As you may already know, tools similar to Shark tools are sold for over Ξ0.2/month. This is due to the complexity, maintenance, and high cost of operation for such tools. The sole operation cost of Shark Tools alone is over $1,000 / day. We have to remember this is with 0 active users. With over 5,000 active users, this cost will range from $2,000 to $2,500 a day. Then there is constantly expanding functionality, introducing new tools, etc. This will increase significantly. Though we are confident this cost can be optimized over time, it is essential to plan for otherwise. With a small renewal fee, we can always ensure smooth functioning and longevity of Shark Tools, Extensions, and other projects on the roadmap. We will eventually get renewals to $0 and rely on revenue generated via Royalties and future ventures.

2. Cost of Talent Acquisition It may not come as a surprise that developers are the most valuable resource in today's world for any company. Alpha Sharks is a project which relies heavily on finding and hiring highly skilled individuals to add to our family and build amazing things on Web3 together. With estimated salaries of over $300,000 a month by phase 3 of the project. Assurance to be able to pay the team is essential. (This is excluding the core team) This small renewal fee will make people more comfortable and confident in working with us and allow us to focus on building bigger things.

3. Freemium Tools Payment All payments towards premium tools payment are made via Shark Tokens. Though this ensures recurring revenue for our holders, it also leads to increased costs of Shark Tools and other services.

The solution

The only solution is to ensure Recurring Revenue for covering operation costs until it's not necessary.

The renewal will be as low as $1 per day, i.e., Ξ0.05 for six months.

While we are confident, we'll eliminate renewals much before hitting the first year. I found it essential to share the concern with sensible reasoning.