Introducing Puppy Financeš¶
The cutest reflect BSC token out there! Hodl and earn!
PUPPY is the first BSC token to re-imagine the concept of frictionless yield generation and deflationary mechanisms.
PUPPY charges an adjustable transaction fee ranging anywhere from 1ā10%. The mechanics of the fee goes as follows:
Initial transaction fee will start at 2% and will be increased daily by 0.5%, according to the community vote.
65% of the fee will be re-distributed to existing PUPPY holders instantly and automatically at the time of each transaction. Basically, you hold = you win!
The remaining 35% will be burnt instantly, thereby deflating the total supply at each transaction. Making our token deflactionary and consequently increasing its value!
In the near future there will be a DAO governance contract allowing the adjustability of the fees, which will be decided by PUPPY holders, pushing further the decentralization of the protocol.
The Problem š
- The Problem of unchangeable fees: These risks come with any mechanic of a smart contract. By deciding on a fee that cannot be changed, the Token therefore cannot adapt to a change in the free market. Frictionless Yield protocols did very well while Ethereum fees were fairly low and the price of these protocols was increasing steadily. After initial sell-offs and high gas fees on the Blockchain however, there was a change in the dynamic of the market. Incentive to pay up to 12% of your USD value to buy a Token, knowing that you will have to pay another 12% once you want to sell it, was shrinking drastically.
By setting these fees as a constant and leaving them unchangeable, it is therefore impossible to appropriately respond to changes in the market. - Problem of fees on the Ethereum Blockchain: Most of the current DeFi projects have been built on the Ethereum Blockchain, increasing the power of the network effects and enhancing the security of the protocol. Although, this has also led to the appreciation of the ETH price which has skyrocketed Ethereum transaction fees. The result is that the Ethereum Ecosystem is becoming a pay-to-win network mostly accessible by the wealthiest wallets.
The Solution š
PUPPY is uniquely designed to address these problems and reduce the mentioned risks and shortcomings.
- The Problem of unchangeable fees: By introducing adaptable reallocation tax and burn rate, PUPPY essentially is able to respond to any changes in the market. During the initial phase, we adjustments will be called by the Team. Afterwards, we will launch governance contracts and let the holders decide how high the fees should be at any given point. This further improves the decentralisation of Puppy Finance.
- Problem of fees on the underlying Blockchain: By launching PUPPY on the Binance Smart Chain, we effectively avoid the problem of high fees. BSC has a tiny fraction of fees compared to Ethereum, which in turn creates much more trading volume and therefore more PUPPY rewards for holders and higher deflation.
PUPPY Supply & Tokenomics š
The maximum supply of PUPPY is 1,000,000,000,000 which is continuously burned by 25% of the current fee applied to each transaction.
PUPPY Token Distribution
- Total supply : 1,000,000,000,000 PUPPY
- Seed Investors : 100,000,000,000 PUPPY ( 10%)
- Public Sale : 650,000,000,000 PUPPY (65%)
- Initial PancakeSwap liquidity : 250,000,000,000 PUPPY (25%)
We partnered with BSC Launcher to host our IDO on their platform!
More details will be announced in our telegram group, where cool puppies hang around, come say hi!
We will list on Pancakeswap and lock liquidity after the public sale is completed.
Next Steps
- Community growth through marketing actions & partnerships
- Governance contracts to let puppy holders decide tax and burn rates
- Dashboard ā Visualization of current yield, calculations of compounded yield for your holdings, current burn rate and burnt tokens, projection of deflation
Follow us on our socials:
ā¶ Website: https://www.puppyfinance.io/
ā¶ Twitter: https://twitter.com/puppyfinancebsc
ā¶ Medium: https://medium.com/@puppyfinance
ā¶ Telegram group: https://t.me/puppyfinancebsc
