Hello everyone, I want to officially present Game of dollars ($GOD) to the public.
I thought a lot about how to explain this tokenomics as simple as possible because obliviously if it’s not understandable it won’t be effective. Hence, I decided to start from the inception and from how I came up with this idea.
The original concept was to build a token with no initial supply at all. What is that supposed to mean? Let’s imagine the paradox that the initial total supply is 0 with a price of 1$. When our first holder Bob wants to buy 100$ of GOD the idea is that the smart contract will mint 100 new tokens with 10% of taxes therefore he will receive 90 GOD, the price of course will increase (let’s say 1,1$) so here it comes what’s called the minting phase (or better donation phase, I’ll clarify this in the next article). Let’s shift our initial supply from 0 to 9000 because as we all know we can’t add liquidity to a not existing token therefore:
- Occurs when there is less than 9,000 GOD in the liquidity pool.
- 10% minting fee on each buy. New tokens are automatically minted by the contract for each buy. (Discover more about where this fees go in the next article)
- 5% fee on each sell. These tokens are burnt forever, reducing the total supply of GOD.
I hope you followed me up until this point, let’s move on to the part two and imagine now that our poor holder Bob it’s alone and therefore he decides after a while to sell. The price of course will decrease but let’s go back to the paradox, the original idea was to burn every single Bob’s tokens returning to the 0 supply but because he pays again a bit of taxes now the prices is 1,12!! Why? Because the liquidity generated from taxes is locked forever into the smart contract and the whole supply is burnt. The problem is we can’t burn everything immediately this would imply a 100% slippage and here it comes the burning phase. When market is flooded with too many not ‘held by anyone’ tokens it’s time to burn more rapidly therefore:
- Occurs when there is more than 18,000 GOD in the liquidity pool.
- 5% fee on each buy. These tokens are burnt forever, reducing the total supply of GOD. The bought tokens are not minted anymore instead the smart contract uses the tokens in the liquidity pool.
- 10% fee on each sell. These tokens are burnt forever, reducing the total supply of GOD.
Which means that if you buy during the minting phase number 1 and if you are brave enough to hold until the minting phase number 2 you will always be in profit because of the taxes. At this point, I hope I’ve clarified most of doubts around this particular tokenomics that I come up with.
If you guys have any more questions which I’m sure you have please feel free to ask in the telegram group https://t.me/gameofdollars_chat. The presale will start in a couple of days.