Daddy Doge is a deflationary DeFi token that takes a 9% 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 a DaddyDoge token and 3% added to a marketing/dev wallet to make sure that the project is able to succeed in the long term. Another large purpose of the tax is to decentivise 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 was to create a level playing field for all involved. Our presale was hosted on the DxSale platform with a hardcap of 500BNB with a maximum contribution of 3BNB, which sold out in several seconds. However, we didn’t want presale buyers to be the only ones that benefited so we made sure the public listing price the same as the presale price.
100% of the liquidity from the PreSale was added to the PancakeSwap liquidity pool and locked for 5 years. We purposefully did not hold extra large dev token wallets that could easily manipulate the price or rug pull, so people can have confidence in the project going forward.
Upon a successful launch on PancakeSwap, the ownership was immediately renounced giving the community full power and confidence in the forward momentum of the project. The contract is therefore fully decentralised and 100% community driven with no backdoors or hidden ownership. All tokens that were not were not transferred through DxSale either by PreSale or the liquidity pool were burned, equalling 43.4% of the total supply.
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 Daddy Doge contact is an automatic liquidity pool algorithm. 3% 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 Daddy Doge holders this has the side effect of causing the token to be deflationary. The largest “holder” is a dead wallet where 43.4% of the initial supply was 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 DaddyDoge holders is that lowering the circulating supply, when demand is high enough, can increase a price of the token over time. Deflation of the circulating supply happens at a safe rate and in short promotes growth.