After careful review from our core development team, we have made some alterations to our existing tokenomics.
7% total txn fee
5% in reflections
7% total txn fee
4% to our LP
The total tax has remained the same. However, we concluded our LP is sitting lower than we’d like. The ratio of BNB% staked to our LP relative to our Marketcap. It is currently sitting at roughly 2.5%. At this stage, 15–20% is an appropriate target.
By raising/promoting LP on every buy and sell it will help reduce price impact, thus reducing sell pressure, and help maintain our price floors. It will also help ensure that as we grow, larger transactions due to our higher price and marketcap (from profit takers or new money) will not create a drastic MC drop!
With time, we may alter these tokenomics again, but we will never raise it above the 7%
What to expect
By introducing this new liquidity feature to our tokenomics we expect to see a more stable growth week over week versus the current 5% redistribution and current 2% burn.
The improvements to liquidity and price stability will have a greater direct impact to the volume of our chain, despite the decrease in distribution.
Once liquidity has reached levels around 15–20% of our marketcap, we can then increase the distribution back up, increase the burn %, and reduce LP%, all while maintaining the security of the added liquidity.
Also keep in mind that our final tokenomics before renouncing our contract needs to be the right one for our NFT marketplace. These are measures we will take along the way as we want to ensure the healthiest, and most efficient growth patterns moving forward!
The reason we require this flexibility is because it will be essential to the success of our NFT marketplace. Our NFT marketplace plans will require a final tokenomics distribution for the kind of token we want it to be, one that is competitive and attractive to the ever changing economy of NFTs.
We have also confirmed from expert developers that a contract renouncement at this is not advisable, although we are not against this option when we are fully confident that we will not ever need to make any alterations for the benefit of our development plans, our community, and TABOO’s longevity.
Our #1 aim is to always remain transparent in our communications. We will continue to build trust to our community this way.
We trust that our community will see this is a positive step we have taken, because it is!