🪙Tokenomics
Tax Distribution and Contract Information
Last updated
Tax Distribution and Contract Information
Last updated
Total supply of $PYRO tokens is 10,000,000.
Liquidity is currently locked for 6 months, with plans for the lock to be extended further down the line.
Currently, our tokenomics include a 5% reflections revenue share, which automatically deposits tokens into your wallet. Additionally, we incorporate a 3% liquidity generator mechanism and allocate 2% to a marketing fund, facilitating revenue generation for the project's advancement. This currently adds up to a total buy/sell tax of 10%. Following the completion of Phase 2, adjustments will be made to the token mechanism's tax structure to decrease the overall tax. This modification aims to attract investors initially, prioritizing them over traders at the project's inception. As we establish a steady income, we can then appeal to traders who prefer lower taxes, all while maintaining investor satisfaction through the consistent income stream.
I understand that investors reading this will seek specific details, so let's provide them now. In Phase 2 (January 2024), reflections will be entirely removed. The marketing wallet will still incur a 2% tax, and the liquidity generator will be reduced from 3% to 2%, resulting in an overall tax of 4%.
The contract for this project is NOT currently renounced. This is due to the fact that this is NOT a meme coin, but this is a long-term utility project. With that in mind, the contract must currently stay un-renounced in order to lower taxes for Phase 2 and beyond. However, further down the line, if the community desires that the contract be renounced, then it can be done.
$PYRO will serve as the primary medium of exchange across all our platforms. In addition to receiving reflections in Phase 1, $PYRO holders will also enjoy monthly rewards generated from our platforms. The revenue distribution allocation from our platforms is outlined above. Our strategy is to incentivize our holders through ongoing revenue generation in as many ways as possible.
Since $PYRO operates on the Ethereum blockchain, known for its high fees, it may not be the most suitable choice as a medium of exchange. How can we address this challenge?
One option is to off-chain our tokens to sidestep fees.
Alternatively, we could consider bridging to a blockchain like Solana, which offers a more competitive fee structure.
