Flokishima is a deflationary DeFi token that takes a 12% tax from each buy and sell. This tax acts to benefit the project as a whole by putting 3% in the liquidity pool for a stable price floor, 3% proportionally reflected back to all holders of Flokishima and 6% added to a house wallet to ensure that the project is able to succeed in the long term. The main purpose of the tax is to incentivise large token holders from buying and selling quickly and damaging the price. This almost always effects the small token holders and we want a fair coin for all.
PreSale and Launch
Our main focus of a presale and launch is to create a level playing field for all involved. Our presale will be hosted on the Pinksale platform with a soft/hard cap of 50/100 BNB respectively and a maximum contribution of 2.5 BNB, 90% of the liquidity from the PreSale will be added to the PancakeSwap liquidity pool and locked for 1 year initially but this will be relocked every 6 months. We purposefully chose to not hold separate large dev token wallets that could easily manipulate the price or rug pull, so people can have confidence in the project going forward.
In order to ensure safety for investors, we have removed all “honeypot” functions. This means there will be no way to pause buys or sells, increase the tax price, increase the liquidity % or remove liquidity altogether. We feel this should be the fairest opportunity for all our investors to make money. All tokens that were not were not transferred through DxSale either by PreSale or the liquidity pool will be burned.
For more assurance of the validity of the contract, we are engaging with multiple audit companies. Dessert finance is the initial audit company with numerous to follow.
Liquidity Pool Algorithm
Part of the core logic of the Flokishima contract is an automatic liquidity pool algorithm. 2% of each buy and sell is accumulated and then added to the PancakeSwap liquidity pool. One of the core aims is to reduce the price impact when larger wallets decide to sell their tokens at any point in time.
Having this algorithm in place, in theory, helps reduce the large price fluctuations that can be seen in other tokens. In short, the tokens and BNB added to the liquidity pool creates stability and an increased price floor.
Due to the nature of 3% of each transaction being passed on to Flokishima holders this has the side effect of causing the token to be deflationary. The largest “holder” is a dead wallet where the largest portion of the initial supply is burned. Since this wallet is not excluded from reflections, a proportion is added to the burn wallet thus decreasing the circulating supply slowly over time.
The tokens in the dead wallet are completely inaccessible and are effectively burned. A benefit to Flokishima holders is that lowering the circulating supply, when demand is high enough, can increase the price of the token over time. Deflation of the circulating supply happens at a safe rate and in short promotes growth.