HODL Increases its Burn-rate by 350%!
Tue Aug 2, 2022
HODL increase its burn per transaction from 0.2675% to 0.9%!
HODL Token Launches upgraded transaction taxes along with a new 'Burn Lottery', causing a major increase in the tokens rate of deflation!
Qualifying buys of 7 billion $HODL tokens or more, automatically receive a ticket for the lottery, with a 2.5% chance of winning the prize pool!
Along with the contract development to create this feature, HODL partnered with Chainlink in order to utilize the random selection method - known as VRF (Verifiable Random Function). Every qualifying buyer is logged and announced in HODL Token's Telegram group and upon every 7th ticket being produced, the contract uses VRF to check for a winner!
Winning tickets are automatically sent 70% of the prize pool, with the remaining 30% of the HODL tokens being sent to the HODL burn address! This has a huge impact on the rate at which the project burns tokens, with the burn-rate increasing from 0.2675% of every transaction to an astonishing 0.9% of every single transaction (buy, sell or transfer)!
To generate the prize pool for the lottery, HODL has upgraded its transactional tax model by incorporating a 1% tax on all transactions for the lottery, with these taxed HODL tokens going directly to the lottery prize pool.
If you want to check on the status of tickets, simply visit HODL Token's Telegram group!