DEGEN TRADERS update, the future is now;
Hello my dear Degens,
First of all, I would like to thank you all for staying with us until today.
We admins have talked, discussed, exchanged opinions and written down fruitful ideas quite intensively in the last few days. We talked about many paths we could take. We also talked about many solutions that we still had to deepen.
Our current solution would be:
We will create a new token with governance characteristics. This token will have exactly the same supply as DEGEN SD had before. This token will not distribute reflections. We currently also have low fees, which I will list in a moment. The fees will initially be sent to different wallets until we develop the appropriate features.
Here are our planned tokenomics:
Buying:
- 2% Liquidity Booster
- 2% Liquidity Backing
- 1% marketing
Selling:
- 2% Liquidity Booster
- 2% Liquidity Backing
- 1% burn
Transfer:
- 1% burn
We plan to use a methodology that will allow us to extend and share the tokenomics with future contracts (baseline and marketing). This means that each transfer is passed through a controller, which takes care of the processing and carries out the appropriate actions. We're also defining what will happen with the amount of burned tokens is it was on the DEGEN SD. We think about burning a part of it and locking a part of it to have some liquidity for future DEXs and giveaways. It is not decided yet.
We plan to pair the new token against BUSD.
We are currently planning to offer the new token on two DEXs. It is important to know that once FEGex is back in order, we will expand to this exchange as well.
A listing on CoinMarketCap and CoinGecko should be possible with the "free" token. We are currently building a landing page that briefly explains the project.
At the moment we can still adjust the mechanics of the token and I therefore ask you to send us your ideas about what we could do differently or better.
How things will continue at the moment: We take your suggestions and adapt the best ideas. After the adaptation phase, we enter the internal test phase. A few components and their interaction are tested here and errors are corrected. We also have our automated tests that cover most of the functionality. While we are testing, an interface will be made available on another construction site, which will enable you to connect your wallet via our website and exchange your DEGEN SD tokens for the new token at a 1:1 ratio. That would be our collection phase.
After the collection phase and the distribution of the new tokens, we will give the collected tokens to Smart Lending - if activated. Here we would like to get some liquidity for the new token. As soon as we can borrow the BNBs, we will convert them to BUSD and add them to the new token's liquidity. This means that there can definitely be a huge pump when the lending is reopened.
I can't say how long each phase will last. We'll keep you updated on every step we take in that direction. Let's go and I can tell you I'm super excited about what's going to happen next. With us as well as with other projects.
Best regards,
Daniel for Team Degen
