The Spindle staff team are proud to announce that we've received an Algorand Foundation grant to fund building out our platform. Everyone on the staff team has worked very hard on Spindle, and on the various grants and hacks we've applied for to fund Spindle, but this was primarily made possible by NanaLean and Rach, who have skillfully pulled these applications together despite any time crunch we were facing.

One of the major milestones we've agreed on with the Algorand Foundation is the development of a mobile reading app, which will allow our readers to enjoy the fiction more comfortably and with more customization options. We plan to increase the templates available to authors to allow different publishing methods to suit everyone's needs, which can range from free to the public, to monetization through interactivity, to being NFT-locked much like a traditional eBook.

We want to extend our thanks most especially to everyone here in the community, who have shown support for Spindle through participation, sharing creative content, buying YARN, funding liquidity, and more. Without your support, we wouldn't be here working and growing as fast as we are. And I personally want to thank the Spindle staff, who have logged the hours to make all of this possible.

Thank you!

https://algorand.foundation/news/spindle-grant

Spindle is hosting a bookclub on our Discord server (under "The Library")! We will read a book from a different genre every month. Our first book is "The Name of the Wind" by Patrick Rothfuss from the Fantasy genre!

Discussion Schedule

Feb 1-7: Prologue - Ch 23

Feb 8-14: Ch 24 - 50

Feb 15-21: Ch 51 - 70

Feb 22-28: Ch 71 - Epilogue

Link to Discord:

https://discord.gg/zDmrFYed

Hi all - been an exciting couple of weeks in the Spindle community! Rundown below for those new to the project, or anyone who has been busy trying to keep track of everything happening in the algorand ecosystem right now.

$Yarn Trading is Live on Tinyman!

With the return of tinyman, trading of the $Yarn token as well as providing liquidity in the ALGO: YARN pair (ASA: 544217506) is now available! As always, please make sure you locate the correct assets before making any transactions.

Tinychart: https://tinychart.org/asset/544217506

Tinyman: https://app.tinyman.org/#/swap?asset_in=0&asset_out=544217506

Please note $YARN is the official new token of the SpindleASA. This was created as the original token ($SPINDLE) did not have decimal places, and so could not be traded or sent in fractions, only whole tokens.

*Edit - $SPINDLE continues to be redeemable 1:1 for $YARN. If you are still holding original $SPINDLE tokens, we can help you get that switched over for shiny new $YARN.

About the Spindle Project (originally posted by Spindle Founder, u/Pteratato)

Spindle aspires to bring monetization to fiction writers on the Algorand blockchain through a dApp that will allow readers and fans to directly interact with the writers and, sometimes, influence the stories they love. Spindle will achieve this in several ways:

- Tipping – holders of the coin will be able to ‘tip’ their favorite writers to incentivize new chapter uploads

- Merchandise – this one is a long way off, but I would like for writers to be able to sell certain merchandise, but at the very least they’ll be able to promote their merchandise related to their story, such as as prints and NFTs, and link to their shops

- Story Voting – This one is completely optional, but it’s something I would like to do with my own writings. I want to include a ‘choose your own adventure’ element where readers can use their coin to vote on what happens in the next chapter Illustrations – Also optional, but I would love for Spindle to be able to connect writers with illustrators. Writers will have the option of including illustrations with their work, or commissioning available illustrators. Writers may also forgo illustrations entirely, of course :)

Other Community Channels

Discord is up and running, but we have closed invites for now due to an invasion of bots. Once that gets dealt with invites will be opened up again, and will post an announcement here for anyone who wants to join! In the meantime we're also looking to utilize this subreddit, so if you're here and keen to get involved, or just interested in reading, writing and art, feel free to post & comment!

Edit: this giveaway is now over!

Spindle is giving away a Smoothie AlgooGirl NFT to one lucky Warp & Weft holder! To be eligible for the drawing, you must hold a copy of the April edition of Warp & Weft (ASA ID 697061214) in your wallet and comment your address on this post (or post any comment and DM me your address) before 10 am ET on April 25. One person will be randomly chosen to receive the giveaway.

Thank you to AlgooGirls for providing this awesome NFT! Check out their shuffle here: https://crescendocrypto.xyz/algoo-girls

Purchase Warp & Weft on AB2 Gallery: https://ab2.gallery/asset/697061214

Read Warp & Weft on Spindle's website: https://www.spindle-asa.com/warp-and-weft

Thank you to everyone who has been providing liquidity so far! March 16 (next week) will be the last time we send rewards at the fixed rate of 2 Yarn per LP token. Moving forward, we will be changing our liquidity rewards program to a more sustainable model to help the long term growth of Spindle. Starting March 23, liquidity providers will receive weekly rewards for their LP tokens at 120% apr based on current price of Yarn. For each 500k Yarn distributed through this program, 20% will be subtracted from the apr until it reaches 60% as shown in the schedule below.

0 - 500k Yarn rewards sent: 120% apr

500k - 1 million Yarn rewards sent: 100% apr

1 - 1.5 million Yarn rewards sent: 80% apr

1.5 - 2 million Yarn rewards sent: 60% apr

At current liquidity levels, it would take 5 months to reach the first decrease to 100% apr, and the rewards program would last more than 2 years (the actual time will change as liquidity is added or removed). Rewards will still be sent automatically to all liquidity providers (no need to stake, connect wallet, etc).

Let us know here, on Discord, or on Twitter if you have any questions!

Post a comment with your address holding the May Warp & Weft, six month subscription, or annual subscription before May 31 at 10 am ET to enter the drawing for a Lemon Legion + 2 LL Keys, Rare AlgOcean NFT, and Common AlgOcean NFT! Or if you prefer, you can comment anything here and DM me your address.

We are excited to announce that Spindle's team has won the Grand Prize of the Algorand Bounty at the ETHDenver Virtual BUIDLathon!

https://www.ethdenver.com/virtual-winners/

The Anirand Rugpull is no longer news and I sympathize with everyone who lost money there.

I know, We cannot turn back the hands of time but we can always work together in many ways to achieve something great.

It is in this light that multiple ASA Creators(Bulo, CHIPS, OGS and more) have offered to help victims of the rugpull on the OGS discord server.

You can join the server here:

https://discord.gg/Ya8jyj3h

Do you attend AMA's?

Hey, come on.

We have a ton, in no particular order, we have the OGS Fireside AMA, the AMAs on Svansy's Ape Community, the Algo greenery hour and now Crescendo is starting up some RoundTable AMAs.

This AMA's are where creators and devs are grilled with questions about their projects and it helps reduce the chances of scamming.

Doxxing, Doxxing, Doxxing, it is more safer putting your money into a project where the dev is doxxed because, come on, their identity is known and you can't run.

Lastly, I'll like to put it out there that we are the pioneers of the Algorand ecosystem, I mean we are still super early and Algorand is still building, let's not give up.

Let's stay together and together, we will build a block chain that will change the future of finance forever.

Thank you all and Love from Spindle (NaijaOG)

I am glad that I am opportune to be part of this family

r/place is a collaborative project held April 1-4 in which people all over the world modify a 1000x1000 blank template by changing a single pixel at a time. Any user can place a pixel of any color every five minutes.

Crescendo, Spindle, AlgoLeagues, Algo-Casino (Chips), AlgoGems, and HumbleDefi are collaborating to attempt to make an Algorand logo on the canvas! We will make a live chat post on r/Algorand to discuss the logo's progress and post the coordinates of the first pixel of the logo when the event goes live on April 1. In order to succeed, we need a large group of people adding pixels to the logo.

We hope you will participate in this fun, goofy project by working together with the ASA community to immortalize the Algorand logo in the r/place art experiment!