Migration to QOM Layer 1

Sublime Society was launched as a vision for a framework for a decentralised society and that vision remains the same today. As anyone working within the space will know, the path to pure decentralisation is a long a winding one.

$VIBES launched last year on the Ethereum network which seemed like the most logical approach at the time. However with exorbitant transaction fees that are showing no sign of coming down remaining on Ethereum presents challenges in bringing the vision to life.

Now and then something comes along in crypto that changes the landscape forever. Earlier this year Qom Layer 1 relaunched as a CTO of an entire chain, one which fixes many of the problems associated with Ethereum.

With no VC backers and no early insiders, QL1 is as decentralised a chain as they come. And with lightening fast block speeds and next to zero transaction costs, the chain presents the perfect environment to begin the creation of our vision for a decentralised society.

To this end the decision has been made to migrate $VIBES to QL1.

The Migration

Between now and Monday 2nd December the liquidity from the VIBES pairing on ETH will be removed and the funds transferred to QL1 for the purpose of purchasing $WQOM to form the initial liquidity pool for $VIBES on QL1.

The process will be carried out in collaboration with Provis from teh fund community who has already managed several migrations successfully, and is a highly trusted individual. The process will be executed in a similar way to previous migrations.

It is worth noting that the decision to expedite the process is based on the fact that we expect the price of $QOM to increase rapidly and soon, given planned CEX listings and other developments happening across the protocol.

By establishing a pairing with QOM whilst the price of QOM is still low, as it continues its meteoric rise then the value of $VIBES on QL1 will increase by default, even without any significant buy pressure.

Holders of $VIBES on ETH will not have to do anything to participate in the migration. A snapshot will be taken at the moment the liquidity is transferred and new tokens will be airdropped to holders shortly thereafter.

To see the new tokens all users will need to do is add the QL1 network to their wallets and import the new $VIBES contract address which will be provided at a later point.

Tokens will be airdropped to current holders on a 1:1 basis.

Tokenomics

There are currently 987,654,321 $VIBES tokens in circulation on the ETH pairing with 70% of supply not yet distributed. The original plan was to distribute the remaining supply as the community grew through a faucet mechanic.

The new plan is to burn the vast majority of these outstanding tokens, so that the circulating supply of $VIBES on QL1 is reduced to 333,333,333.

The remaining 38373735 tokens from the undistributed 70% will be sent to two wallets, which will be used for marketing (staking rewards etc) and development.

The overall supply will remain the same however in the new pairing, 66% of tokens will be burned from the outset.

$VIBES on QL1 will be a zero percent tax token.

Teh Vision

The long term vision for building a framework for a decentralised society remains, however the new token on QL1 is being repositioned as a hybrid meme token.

The short term strategy will be focussed on building value of the $VIBES token, which in turn will increase the value of the dev wallet. Funds from this wallet will be used to build out the framework for the decentralised society as envisioned in the initial $VIBES white paper, however no timing is being attached to this roadmap for now.

Instead the initial focus is to launch $VIBES on QL1 as one of the first migration projects and grow from there, which we will be in a strong place to build from given how early we are.

Conclusion

The migration of $VIBES to QL1 is an exciting milestone in the evolution of Sublime Society. One which breathes new life into the project and presents a plethora of opportunities for the realisation of the long term goal of the project.

The decision to migrate at this early stage positions us strongly to benefit from the rise in value of the native QOM token and continue to grow the community as one of the early projects to migrate to QL1.

We look forward to welcoming new investors into the community and watching the community grow.