NB – Sometimes burns matter, sometimes they don’t. A continuous burn can be great in the early days but its best to control the burns and drop them at the right times to promote products and reward holders based on achievements and targets set out thus instigating growth.
We will implement burn strategies that are beneficial and rewarding for those engaged for the long term and these will be done at random but with prior notice in public.
We will sometimes adjust the contracts to waive fees giving holders 100% of the tokens from direct sales or move the 20% fee allocation to the burn wallet (or other such combinations) rather than reflections to boost the price for all.
We will inform our customers in advance across all social media platforms to ensure we are up front, honest and fair with everyone prior to any contract adjustments. This will make investing in our 4 tokens more fun and profitable for all.
Full details of our current burns to date is available on our website too here> LINK
LP – Stratigic Liquidity from 4 tokens is the hot sauce of FIREFLY and is worked across 2 main principles.
The first being that the 4 contracts suck up tokens from purchases to add to each of their respective liquidity pools creating a solid price floor for each token.
Usually a 20% fee is applied and split as highlighted above in the Cryptology section.
However we reserve the right to adjust our fees(Never More then 20%), remove them or move the fund allocations as explained in the Manual burn section above to make things more fun and profitable for our holders.
The second aspect acts like a penalty for selling tokens early where 20% fees will be applied and distributed usually to the LP, reflections to remaining holders and to the burn address as highlighted above.
In theory, The added LP creates stability from the supplied LP by adding the tax to the overall Liquidity of the tokens, thus increasing the overall LP of the tokens and further supporting the price floor of the tokens.
As the token LP increases the price stability mirrors this function with the benefit of a solid price floor and cushion for holders.
The goal is of course to prevent the larger dips in price from larger sales of tokens when whales eventually decide to sell their tokens later in the game, which keeps the price from fluctuating from as much as it would if there was no automatic LP.
All of this is in an effort to alleviate the problems previous Defi reflective tokens have shown to experience and has proven to be highly effective with the latest reflection tokens available on the market currently.
All 4 liquidity pools have been locked in for one year as can be seen here:
By locking in the LP the pool token’s movement is restricted by a time-based function. This means that once the restriction is set, they cannot be moved or redeemed until the pre-selected time has passed. This gives users more confidence in the markets they are involved in, because they know that for at least the next 1 year the market must exist in some form.
We will be reviewing our position in a year and considering locking in funds again at that time.