Some Tokenomics Information
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The RugZombie launch is rapidly approaching. We thought it best to get our tokenomics and basic information out to the community as we come to this historic event. Read carefully, there is A LOT of information here. This information will also be available in our forthcoming Lite Paper.
That paper will be released before launch but after we release our proper Token Contract Address. We have a dummy contract address that is out currently for some testing on mainnet. As of 6/30/2021 (the release of this article) NO token contract address has been given to our community. Anything you see is a scam and is not proper.
Enjoy some details below and Zombie On!
- Pancakeswap liquidity added at farming start
- Emission Rate: 10 $ZMBE per block
- Initial Supply: 100million $ZMBE
- 80% supply to initial liquidit
- 10% to developer wallet (multisignature wallet)
- 10% to treasury funds (multisignature wallet)
More information on our Initial Token Supply (dev wallet, treasury funds, etc.) can be found on our gitbook HERE.
Why ZMBE has no hard capped supply?
$ZMBE at its core is a simple yield-farming token allowing the user to earn new tokens out of their rugged tokens. Our mission is simple; providing new value to our users through resurrecting rugged or dead projects with this new yield in $ZMBE. As $ZMBE is a farming token, it is inflationary and has no fixed supply, but the circulating supply will be controlled by a variety of unique burning features:
- Burning $ZMBE tokens when used to unlock Graves and Tombs;
- Our buyback and burn program (we will sell the rugged tokens that have been deposited to unlock our Tombs and then use the proceeds to buyback $ZMBE to be burned);
- Manually burning $ZMBE from Treasury as needed;
- Auctions and contests where a portion of the $ZMBE used to participate will be burned. Specifics of these projects will be released as they arrive.
- Low Emission Rate: 10 ZMBE per block (see image below)
Inflationary supply can be a cause for concern for potential users of $ZMBE, however the way our project incentivizes liquidity provision is by giving out rewards that require an emission rate, thereby increasing the supply. $ZMBE is also used in future features with our gaming ecosystem (coming ~Q1 2022) and there are MANY ways to control the supply as stated above. Please trust our team as we build something great here.
We have many burning mechanism, staking mechanisms and more that will lead to $ZMBE being emission neutral. But as the chart above demonstrates, $ZMBE is among some of the lowest emissions you will find in farming projects.
Further Information on Burning and Inflation
1. Low Block Emission
By beginning our contract with a low block emission of $ZMBE generated per block, we can slow the inflation. Our emission rate is incredibly low (10 $ZMBE per block) compared to other similar projects with yield farming contracts (see the figure above). We don’t want lower or raise the emission too frequently, too early, for the same reason we don’t want a hard cap: we still need to incentivize people to provide liquidity. We will update our community about the emission rates as the project develops.
2. Manual Buy Back and Burn Features
The dev team is committed to buying back and burning $ZMBE as we hit certain milestones as a community. We chose not to automate this process entirely but instead to allow for manual adjustment to emissions and burns to adapt to changing environment in crypto.
3. Unlock Fees & Early Withdraw Fees
With the unlock of each grave, tomb or spawning pool, a portion of the unlock fee will go to buy back and burn automatically.
For now, you can view the deposit fee as payment for the custom NFT that you receive in our graves. :-) It also decreases the $ZMBE supply therefore supporting the price of $ZMBE longterm.
4. Future Features and Burning Elements
Our early withdrawal fees (see below) also further incentivize long term staking that helps control inflation.
Stay tuned, we have a lot of ideas to keep the ZMBE supply low, with a goal of becoming emission neutral.
Why No Presale?
The dev team has chosen NOT to participate in any IFO because of two main reasons:
Creating a presale event allows for sell pressure at launch that unfairly disadvantages the public during an initial public launch. Many rug pulls also began with pre-sale events.
APD Launch Feature
RugZombie is a project born of passion to clean up the defi ecosystem and provide real value.
So when we launched, we tried to do everything right. In lieu of doing an initial coin or flip offering, our team chose a fair public launch and to provide initial liquidity ourselves, and pay out of pocket for everything from the start.
Our hope is this move shows transparency and our team is invested long term because our own money went into it in such a way that we cannot remove those funds as they have been used to purchase things necessary for our platform. To this point, our dev team has spent considerable money employing contract developers (to the tune of thousands of dollars), a similar amount in audits, subscriptions, paying artists, a few marketing payments and more.
Our APD feature on the first day of launch prevents any token holder from buying or owning more than 2% of the total supply of $ZMBE at any one time. This feature will be removed appropriately after launch, likely within the first hour.
As such, RugZombie is beginning with lower liquidity than other tokens, and therefore requires careful stewardship right after launch to protect token holders from pump and dumps, sniper bots and whale manipulations.
Any holder of $ZMBE can still earn more through providing Liquidity and Staking in our smart contracts, as they have been whitelisted. UNTIL THE APD IS LIFTED, THIS IS THE ONLY WAY to acquire more $ZMBE if you own more than 2% of the supply.
Buy orders of 2% or more of the supply will be rejected and wallets holding 2% or more will not be able to acquire more $ZMBE through the swap feature until APD is lifted. They may still stake and earn $ZMBE through our LPs and GRAVES as those contracts have been whitelisted.
Why Is This Feature Necessary?
Our team plans to monitor the initial release of our token and to scale this percentage back as necessary (likely within the first hour of launch) and to remove this APD feature completely once our public launch has stabilized.
Beginning with lower liquidity means that the potential for users to manipulate the market increases as the threshold is lowered. We have chosen to do this in order to ensure a safe launch that is not scalped by bots, nor manipulated until our price action stabilizes.
Early Withdraw Fees
To keep and incentivize liquidity, all graves, tombs and spawning pools have an early withdraw fee assessed if removed prematurely.
50% is sent straight to the burn address and the other half is sent to treasury address.
48 Hours on all initially deposited funds
This fee applies to initial deposits. The withdraw period is:
This timer is reset upon each deposit and withdraw to incentivize long term holding.
For LP pairs, the 5% fee is automatically unpaired, the ZMBE burned and the other token is sent to the treasury address.
We have chosen to use deposits in BNB rather than $ZMBE in order to reduce sell pressure on $ZMBE. If we were to take $ZMBE for these deposit fees, in order to pay our artists, devs, audits and more, we would subsequently need to sell $ZMBE for BNB or BUSD (or risk them converting $ZMBE and doing the same).
While buying/selling $ZMBE may contribute to price action, it will inevitably result in consistent sell pressure on our token. While it can’t be avoided completely, when it is possible, we prefer to let the price action of our token reflect pure market attention rather than swaps used for project expenses.
The deposit fee for Graves are a flat fee taken in BNB but represented in BUSD around ~5 USD.
50% of all fees are used to immediately buy back $ZMBE and burn thereby reducing the supply.
The rest of the fees are sent to the treasury in order to pay for things related to the project such as the NFT artists, audits, and future features, adding developers to our team.
The information shared in these docs, our roadmap, our lite paper and white paper, and social channels such as this blog, is not financial advice and should not be misconstrued as such. The primary purpose of these documents is to provide potential token holders with pertinent information in order for them to thoroughly analyze the project and make an informed decision. Engaging in cryptocurrency projects involves substantial risk and it is strongly advised that you consult with a financial professional prior to your participation. These documents do not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities or a solicitation for investment in securities in any jurisdiction. Neither RugZombie nor any of its contributors or creators shall be held liable or responsible for any errors or omissions concerning this project or for any damage you may suffer from your participation or as a result of failing to seek competent financial advice from a financial professional. This white paper is not in any way intended to create or put into implicit effect any elements of a contractual relationship.
Originally published at https://www.publish0x.com.