Smart Contract
We have designed our token smart contract in a such a way, both the community, holders, investors and project dev all get equal benefits.
CHEEMS X is self-reflecting token where with each buy and sell, a portion of CHEEMS X will be distributed back to holders as rewards effortlessly. For many other tokens, where team impose at 10% tax for themselves in each transaction (in the name of marketing), they deprive holders from any benefits or rewards. All the dev cares about people come and buy and sell so they can fill their pockets. They use only part for their "dev wallet", use them to invite degen traders (commonly known as "jeets") and the plunder the project and regular investors take the damage.
In contrast, our smart contract will benefit everyone, especially the holders. With each buys and sell, a portion of tax token will be distributed directly to holders wallet without any need for staking or action from users part. More volume, more tokens for the loyal holders. With sufficient volumes, our token can generate more rewards than any TITANO fork (which has Ponzi component inbuilt, if the newly minted token exceed than the transaction generated token). With our token, supply is fixed and hard coded in the contract and dev has no mint function so not even one single token can be added to circulation.
Even our initial and max supply is fixed, CHEEMS X token is actually deflationary from 3 different sources: 1. Auto LP will add new token into the LP contract, providing an indirect deflationary pressure. 2. DEAD wallet will continue to receive reflections, creating an deflationary pressure. 3. LPDriver will be the last but most powerful deflationary pressure as outlined below. So CHEEMS X deflationary mechanism is better than simple Burn Based deflationary models.
Official Contract and Key Wallets:
Cheems X token: 0x726573a7774317DD108ACcb2720Ac9848581F01D
LP locked: 1 Year https://dxsale.app/app/v3_3/dxlockview?id=0&add=0x6b51D495D97d9715288EBF85B9334D8dd45f913D&type=lplock&chain=Avalanche
LPDriver Contract: 0xeb59d2fd29f761b075dbe41fe5568723bb1b47a2
TreasuryDriver Contract: 0xc57a902e85df7efa0263d33092679c9183fa2511
AirdropDriver Contract: 0xff79c38c180ed4be0981ae753caef3cb22e29019
Dead Wallet: 1.5% Token (as a starting balance)
LPDriver : Evergrowing LP
LPDriver mechanism: This is analogues to but better than Graveyard of Elephant.money where 50-51% of all tokens are held in this address to add perpetually more LP.
Why LPDriver mechanism needed? As the protocol grows, the LP% (the % amount of tokens held in the LP contract, compared to the total token supply) becomes smaller and smaller. Sometimes it gets even smaller than 2% of the token supply, whereas many early whales typically hold more than 2% of the tokens. In those situations, selling from just one "usual whale" has devastating effects on price and a cascade of panic sells ensure. LPDriver is an innovative mechanism that takes some aspects of Elephant.money but it has an even better mechanism than Elephant.money.
How is our LPDriver different and better than the graveyard of Elephant.money? Whereas Elephant.money sells 1% token to create BNB to make LP pair (creating large volume sells randomly, often creating unnecessary panic sells), our protocol doesn't have to sell Cheemsx because LPDriver wallets are our Dev and Team wallets that will have AVAX from transaction tax!
So, LPDriver contract will always hold a minimum of 20% tokens. When accumulated reflections make the token balance more than 23-25%, the protocol will check a few parameters and then add the extra reflected token with AVAX to create additional LP (without any need for SELLS, unlike elephant.money). In this way, our main liquidity pool will be always the top holder (our predictive model suggest, it will be always > 15% or 20% and ever-growing creating a strong deflationary mechanism (even more rewarding for the holders in addition to usual direct reflections) for the and self-sustaining loop.
Building a Healthy Treasury - as a backing of the project: Protocol owned assets!
Team wallet, Dev Wallets, LP driver contract address and Aridrop contract address will also do complementary function in building healthy treasury. When marketcap to LP ratio is already healthy, any excess reflections collected in those contract address (above and beyond the initial % balance) will be sold on open market to generate protocol own treasury reserve that will act as guaranteed value of the project backed by its assets like blue chips, AVAX, BTC, ETH, USDC etc.
A dedicated community own publicly known multisig treasury wallet will act as a custodian for the basket of assets.
If the protocol ever gets insolvent by unforeseen circumstance, our treasury wallet balance will be our last line of defense to protect our investors (similar to OHM fork's Treasury Backing and will have a backing price per token also compared to market price). In those situations, if we ever decide to discontinue the projects, the treasury balance will be distributed in proportion to the amount of token held in your wallet. For example, if you hold 1% token and the treasury have 1 million as backing, you will get 10K USDC (1%) as airdrop even the project fails.
So early in the course, we will build simultaneously LP and treasury (depending on which part is needed more after community discussion).
Other potential use of Treasury: All subjected to DAO voting.
Project incubation and seed investments
Game and metaverse development - when approved by DAO voting.
Charity donations for great causes.
Building NFT market place and our own NFT development.
Social tipping bot development
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