CHANGES TO THE TOKEN ECONOMICS
Revised Tokenomics Model:
1.5% will now be burnt per transaction.
3.5% will now be redistributed to holders, and to our LP stakers.
*Changes have been made to the tokenomics. SMIN will NOT go to the treasury, and instead will now burn and distribute more to holders.
There will be a minor buy back and burn when staking commences, to reduce inflation and minimise investor risk. The burn tokens will be locked until staking is launched.
Furthermore, we have decided to change the supply. This would be more beneficial and rewarding for our early investors.
Total Supply = 2,500,000
Presale = 550,000
Development and Marketing = 125,000
Initial Liquidity = 400,000
Staking Liquidity = 450,000
Treasury = 225,000
Circulating Supply on Genesis = 750,000
*Supply has now been updated.
Still confused on how our contract works?
Our contract (innovating upon the Bog contract) will take advantage of the "Bogdabots code." In simpler terms, the code simply does "small processes" every time someone makes a transaction. This code will then be executed to auto arbitrage the index pools, rebalancing it, and incentivising the index token holder. This occurs every hour.
This contract, however, can also be upgraded to support charts, graphs, and other implementations, as mentioned on the roadmap (TBA for Q2)
How do I use the SMINdex Fund?
Once we get the SMINdex Fund running, you will then be able to mint an index token. The token itself does not suffer from inflation as it follows an algorithm.
Because tokens in the DeFi ecosystem have such a wide range of market caps, we decided to use an adjusted algorithm for computing token weights. Rather than weighing assets by market cap, we weigh them by market cap square root. This algorithm still favors tokens with larger market caps but does not result in some assets having such a massively higher weight than the others that the smaller cap tokens are effectively irrelevant, which would be the case in many indices if standard market cap weighting was used.
As you may have noticed, there are many use cases for SMIN, giving it actual utilisation compared to other unutilised forks. The DAO will be the most powerful governing body in the Sminem ecosystem, so holding SMIN for the long term will give you the most benefits.
We wish everyone luck and success in the coming months.