Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Binance Chain BSC tokens - BEP20 => Topic started by: fatcatcoin on January 01, 2023, 09:55:50 PM
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With the right catitude, anything is pawsible 😼
FATCAT Token
(https://pbs.twimg.com/profile_images/1606401485549584387/lzDLgZki_400x400.jpg)
ticker: FATCAT
network: BSC
contract: 0x55493E35e33Fcf811571707Ac5Bf1DbcB658bAfc
ownership: renounced
supply: 1,000,000,000,000 (1 trillion tokens)
transaction tax: 1.9% buy/sell
slippage: 2%
decimals: 9
liquidity pools: Burnt (will continue to burn when it accumulates)
website: http://fatcat.army/
white paper: http://fatcat.army/white-paper-fatcat/
twitter: https://twitter.com/fatcat_coin
telegram: https://t.me/fatcatcoinchat
The Problem with reflection tokens:
The first problem reflection tokens have all have the same inherent problem in that they all collapse when new money in dries up just like most Ponzi schemes.
usually this is how it goes:
- new user inflow slows down
- causes volume to drop
- because volume drops less reflections are made and thus becomes less exciting to buy hence causes volume to drop even more
at this point the reflection token is in a price freefall and interest diminishes until it does out.
The second issue reflection tokens face is the high taxes that stop trade on DEXs as soon as they add pairs on CEXs, look at BabyDoge as an example, no hate on them, but out of the $2.2 million in volume today only $62,000 was done on DEXs, so they only collected reflections tax on $62,000 worth of trade! (THATS NOTHING! especially when you work out that 1/2 the tax is just $3100 divided by baby doges 1.6 million hodlers!)
we believe there is a better way
Our Solution:
our novel idea is to make part of the reflections go to funding a treasury, said treasury will invest in relatively safe DeFi yields, the ROI from this investment will be used by the treasury to wash trade FatCat on 2 DEXs.
why 2 DEXs you ask?
well im glad you asked, the treasury will buy on DEX A and sell on DEX B, this will cause a price difference, now this being crypto and there being loads of arbitrage bots out there these bots will create more volume trading the price back to having no difference, so for the ROI the treasury makes we get 2x bang for our buck in wash trading.
why do we want wash trading? well this being a reflection token the more trade there is the more reflections are created and the more tokens are reflected back to the treasury and also Hodlers aka users.
this system will ensure a ever rising volume floor that fatcat can always fall back on.
also another fun fact is we burnt 15% of the supply and that gets reflections just like the rest of our users do, so the treasury will always keep rising and the supply will keep shrinking hence the value per token mathematically should keep rising.
I believe I have come up with the ultimate hodl token.
I hope you understand the vision and I hope you will join me on this journey.
please read the white paper for a more in-depth description of all mechanics (its not too long)
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does anyone have any questions about the system?
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we have a youtube ambassador, he is a famous sushi youtuber with a million followers on a food channel!
he just started a crypto channel we are so blessed to have this guy representing us:
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we made some fun promo material.
(https://pbs.twimg.com/media/FmgngBDWIAM46W4?format=jpg&name=medium)
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We are still working hard to build our idea and get it in-front of people so they understand the benefit of our vision.
here is the latest report:
(https://pbs.twimg.com/media/Fr76H6KaEAEu4nL?format=jpg&name=medium)
also worth mentioning we went through a rebrand to a kickass FATCAT logo