Dear Community! This thread will explain SERGS token contract and how it works.
1. 2.5% transaction fee is applied for every trade(buy/sell)
2. This fee will be flowing to Fee Treasury
3. Deflationary model. 50K is the threshold for fee treasury and anything exceeding 50K will be burnt
4. Protocol Fees for both SERGS+SSL holders and Liquidity Providers.
Below is the fee treasury wallet address and whenever an individual makes a trade, 2.5% of the fee will be flowing into this wallet.
Threshold set for fee treasury is 50K. Anything exceeding 50K will be burnt until we hit the cap of 110K total supply.
This accumulated fees will act as protocol fees for SERGS+SSL holders and liquidity providers.
This is the function called from the contract to burn SERGS token.
Function: burn(uint256 amount)
MethodID: 0x42966c68
[0]: 00000000000000000000000000000000000000000000003635c9adc5dea00000
Just tested the burn function with 1K SERGS. So now the supply have been reduced by 1K.
https://etherscan.io/tx/0xb047605d089d458a528f2c539bebeb0420fe49d178291d0b24832d5861b991e6
Currently fee treasury have accumulated around 108K SERGS, we will be burning 58K in first wave(which will be done in few hours) and maintain 50K threshold.
There is no minting function. So the owner/creator can never mint extra supply. The purpose of the below function is internal function and called by the constructor itself. Means supply mechanism has to be added in a derived account using {_mint . This can no longer be done since the contract have been deployed and initialised.
Below is the burn function, so the supply can only be reduced and not increased.
Below is the fee structure for both SERGS+SSL holders and Liquidity Providers.
Read the below medium article for more info.
https://sslcomms.medium.com/sergs-ssl-ecosystem-fee-structure-97dd8a4dffb7
In short, this are the read and write functions in the contract
Thanks !
