that page above shows the holders, ranked by wallet size. so a 2.49% holder gets 2.49% of all reflections.
so let's say we have $25K in 24 hour volume (crypto trades 24/7), since FOOK has a 25% reflections tax, 25% of $25K ($6,250) is distributed to all wallets. automatically. because it's written into the code of FOOK's "smart contract".
so the 2.49% holder gets 2.49% of $6,250, or $156.25. just for holding their FOOK.
furthermore, as the 2.49% wallet continues to accumulate reflections, their % of total circulation rises. so with each new transaction, they get slightly more free FOOK.
the best part is the burn wallet. which is now up to 42.26% of the total (original) 401,000 tokens. with each transaction, 42.26% is distributed to the burn wallet, and those tokens disappear forever. you can see the burn % on the right side of the trading page, constantly being updated:
so FOOK is very quickly reducing its total supply, as holders are gaining tokens.
you an see how quickly this increases the leverage.
smartdefi tokens also have a "baseline value" that never drops, it can only go up, shown in the green line on the chart.
so unlike OTC stocks or other cryptos where supply is always increasing, smartdefi builds in scarcity. and the minimum value we can get for our tokens is always inreasing too.
Hi there, my name is Ian. I am project lead of a SmartDefi crypto called FOOK Token. We have a high reflections tax / reward for our holders that results in FOOK being a cash flowing passive income source if treated as such.
Simply put, when a person buys* or sells FOOK Token they will pay a 25% tax of the amount of FOOK they bought or sold out to all current holders. This creates a passive income source for the holders since they are always getting free FOOK which they can then sell for passive income. This creates a situation where price isn't so important as much as size of ownership and volume over time.
A simple example:
Bob sells 1000 FOOK Tokens. 25% of those 1000 tokens (250 tokens) are distributed automatically to all FOOK holder wallets based upon their current share of total supply. For FOOK, we have 401,000 total tokens. If I own 4010 tokens (or 1% of total supply), I will receive 1% of those 250 tokens from Bob's sale (or 2.5 tokens). I now have 4012.5 tokens. If another sell comes in I will now receive a little more than 1% of the Reflections tax since I now have more FOOK. As you can see this can compound over time if you choose to just hold your bag and not sell.
Defi is simply Decentralized Finance. Instead of a centralized exchange and an order book, all trades are handled by algorithms and a liquidity pool. Specifically, SmartDefi utilizes unique smart contracts that hold the liquidity locked, and execute certain functions when buys or sells happen.
*The reflections tax on a buy transaction can be avoided on SmartDefi tokens by owning .001 ROX tokens which are available at FEG Exchange. This only equates to around $6 at the time of this writing.
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