Hello friends
We have seen an influx of new holders like @dkid14 and @netaterra who might not be familiar with our tokenomics and especially our burning mechanisms. And although this info is available here and there, we figured to put it all in a nice post so we can share it when needed.
So, let's first start with the basics. As you know we are a bsc token with no inflation. All tokens are already minted with an initial supply of a billion. The burn address is visible here
At the time of writing this we have over 48 million tokens burnt. Daily, hundreds of thousands, if not millions of tokens are burnt. But where do these burns come from?
Let's see all the current mechanisms
1# Bsc Tax
Fist, we have a 3 % tax on every buy & sell order on bsc. Another 2% goes to the team and we use that to deepen our bsc liquidity pool. Maybe in the future we will do some marketing as well. But we are not holding any for our personal profit. Our goal is to take gifu to the moon and we have plenty of gifu. And we buy as well :)
Currently, the bulk of burns comes from this mechanism.
2# Gif and other Deals
In our core, we are an utility token disguised as a meme. Shortly explained, we make gifs for other projects, get paid, buy gifu to pay our artists and also burn a part of the precedings. Usually that is 20% of our payment.
We have already partnered with Splinterlands (gifs are almost ready) and @thebbhproject that has received and uses the gifs we make.
As you are about to find very soon, we do other stuff as well that also burn tokens and of course brings us awareness. Here's a teaser:
Over a million of tokens have been burnt so far with our various partnerships and deals.
3# Strategic Investments
We have used and continue to use some of our hive funds to invest in hive engine projects we know and trust. Namely, Power Ventures by @empoderat and RUG by SSUK.
These projects pay us regular dividends. So far we are happy with our burns and we mostly hold those dividends. But we did buy some tokens yesterday from the hive engine market and we send em to @cryptoeater (our tech guru) to be burnt on bsc.
More hive engine burns soon ;)
And that's it. For now. Feel free to leave a comment if you have any questions!
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