Ho, Ho, Hodl: Everything You Need to Know About Baby Santa Tokenomics
Here at Baby Santa it’s our favourite time of the year.
But first, a refresher on what Baby Santa is all about. Our DeFi protocol was built to provide a way for cryptocurrency investors to give back to those who are less fortunate during the time of year when those less fortunate need help the most.
Our platform also allows investors to receive secondary rewards and another stream of income by collecting BUSD rewards. They can then also compound their earnings through our workshop pools. Users who stake their tokens can also receive staking tax and buybacks and the opportunities for income streams are multiple.
Now, let’s jump into tokenomics. First up is our reflection mechanism. Our DeFi tokens use a static reward system, meaning that every transaction made with tokens is ‘taxed’. For every transaction made, a percentage is added to a liquidity pool and another portion is set aside for redistribution among holders.
The reason we chose to adopt this self-generating passive income model, where users can ‘hold and earn’ which reduces the pressure to sell off their holdings. Reflection mechanisms work by using smart contracts which automate the token redistribution.
Baby Santa holders can earn a passive income from BUSD rewards, as long as they have a minimum of 10 billion tokens. When you stake our Baby Santa tokens, our BUSD workbench will earn a variable APY (annual percentage yield, a normalized representation of an interest rate, based on a compounding period of one year) of even more BUSD for your Baby Santa tokens, without any entry or exit tax.
Holders can stake their tokens in Baby Santa’s workshop, via our staking pools. Here, you can earn through holdings by simply placing your tokens in their pool of choice. We are also excited to announce our Rudolf’s Buybacks feature, which allows the taxes collected from buys and sells to be saved for strategic buys on the chart. By using this feature, tokens are pooled and can be used for exchange listings and can also be burned.
Breaking down our taxes specifically, Baby Santa’s slippage depends on volume and we operate off a normal tax rate of 10% buy and 10% sell rate. We also have a special Charity Hour that in the first 60 minutes, our tax structure is a 3% buy and 30% sell rate and the following 1 hour we have 10% buy and 20% sell rate.
There you have it — the nitty gritty details into Baby Santa tokenomics. Can’t wait to start staking? Head on over to our website today!