Buy & Burn/Grow Pool
47% Buy & Burn/Grow Pool
Last updated
47% Buy & Burn/Grow Pool
Last updated
47% of AWX Value: Allocated to the Buy & Burn/Grow mechanism.
Two Components:
Infinite Auction: 50% of these tokens are sent to the Infinite Auction Pool that will activate Day 2 and run simultaneous to the daily mining.
Buy and Burn: 50% of these tokens are used to purchase DRACO from the liquidity pool (LP) and are burnt using the decentralized buy and burn smart contract (described below).
The decentralized Buy & Burn smart contract buys DRACO from the AWX/DRACO LP on Uniswap v3 and burns all the DRACO it buys over time. (Time, Value Cap & Slippage Adjustments are retained by the team)
This is a fully decentralized buy and burn that burns a total of 56% of the Burn pool supply every week. The Buy and Burn amounts each day are as follows:
8% of the total AWX in the burn pool is used every day (8% per day).
This percentage is adjustable between 1% and 11% per day depending on market conditions
Buy and Burn occurs in intervals throughout the day.
The buy and burn process starts 24 hours after mining begins. (at the start of Day 2)
Intervals are publicly callable every 7.5 minutes throughout the day.
7.5 minutes equals 192 intervals in 24 hours.
For example, if 8% is split into 192 parts, the value for each interval is calculated accordingly.
If an interval is missed, it accumulates to the next interval. For example, if a 7.5- minute interval for a buy and burn is $500 and it is not called, the next interval will be $1000. When called, the following interval returns to $500.
Any unused Buy & Burn value for that period will roll over into the following week.
