AMA Update - Thu Jul 28, 2022

HODL CEO Adam Roberts gives an overview of what's coming for HODL Token over the next week!

AMA ran on the official HODL Telegram, Thursday, Jul 22, 2022:

What's coming?

We have several updates coming, which we're very excited about:

  • HODL Burn Lottery (live next week)
  • Manual Burn (completed)
  • Enhanced Transaction Taxes (live next week)

HODL Burn Lottery

We're delighted to announce a major new feature is being implemented into our contract - the HODL Burn Lottery!

With the Burn Lottery, every buyer of HODL Token who purchases 10 Billion or more HODL via PancakeSwap or the HODL DEX will be given a lottery ticket (presented on Telegram). The lottery will collect 1% of each transaction in the form of HODL Token and pay 70% of this pool to the winner! The remaining 30% will be sent to the burn address to make HODL Token even more deflationary!

This new feature is in the final stages of testing to go live next week.

Manual Burn Ran Today!

During today's AMA we will be burning 2.5T HODL Tokens! This will take the burn address from 267,557,019,404,699 HODL Tokens (at time of writing) to 270,057,019,404,699! The new burn address amount is 27% of the maximum supply of 1 quadrillion. Our contract sends reflections to the burn address too! This means every time there is a transaction, 27% of the reflections will go to the burn address - this is 0.54% of every transaction - and will continue to grow!!!

Enhanced Transaction Taxes

To accommodate the new Burn Lottery, we are making some enhancements to our transaction tax model (these will go live with the lottery within a few days from the time of writing):

Current transaction taxes:

  • BNB rewards = 6%
  • Reflections = 1%
  • Liquidity Pool = 2%
  • Marketing = 1%
    • TOTAL = 10%

New transaction taxes:

  • BNB rewards = 5%
  • Reflections = 2%
  • Liquidity Pool = 2%
  • Burn Lottery = 1%
    • TOTAL = 10%

We have reduced the BNB rewards from 6% to 5% as 5% is more than competitive in the market already and with 4% previously we saw the reward pool reach over 10,000 BNB around all-time-high!

This allows us to increase reflections from 1% to 2% to make HODL more competitive in this area and the burn address will also receive reflections making HODL even more deflationary! From now, HODLERS will receive 2% of every transaction in reflections and the burn address will receive 0.54% of every transaction, aggressively reducing our total supply! By receiving more reflections you will also receive a higher proportion of the BNB reward pool too!

The Burn Lottery has been added in the place of marketing. We've managed to do this by setting up the marketing wallet with a dedicated 25 Trillion tokens which it can claim BNB for marketing purposes. In addition, we are looking at ways to lock these tokens to further reduce our circulating supply as the tokens will not be sold.

In summary, today marks HODL advancing in delivering a powerful burn lottery function, reducing our circulating supply, and making the project over 100% more deflationary!

Today's update should give each investor confidence in where our special project is heading and the new enhancements will add significant buy pressure and buzz to our project.

An announcement will be sent next week when the new features are pushed live!

HODL on HODLERS!

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