Despite market sentiment and circumstances beyond our current control, Polylastic continues to iterate. We remain steadfast in our belief and understanding pertaining to the importance of indicized products in crypto. Its historical merit can not be impugned and we must take the very best of the traditional—soon to be legacy systems—and go further.
One of the pillars of our future success lies in an aggressive taxation structure. As the POLX token goes through re-distribution to ultimately end up with those who see beyond near-term speculation, it is an imperative that we support these holders.
Again, there are still moving parts that we can not rely on but felt it was incumbent upon us to share our plans as the time nears.
The primary tenets:
- A 9% Network Tax will be imposed; to be utilized as follows—
- 33.3% of the POLX tax (3% of the total transacted) will be earmarked to provide deeper liquidity on Pancake Swap.
- 33.3% of the POLX tax (3% of the total transacted) will be distributed to holders.
- 22.2% (2% of the total transacted ) will be burnt.
- 11.1% (1% of the total transacted) will be distributed as community rewards to users who help promote POLX.
The reasons for this are myriad. Certainly, there is a level of gamification that traditional finance players simply can not impose despite the significant benefits. Secondarily, this structure creates a hyper-deflationary mechanism that we believe, will truly reveal its potency over time. Additionally, the distribution to supporters funnels the tokens into the most deserving wallets.
- This represents upto 500% increase from the original burn targets.
- Trading volume, irrespective of buying or selling, translates to deeper liquidity
- Perpetual Rewards: Hodling gains additional POLX from every network transaction.
- Ongoing Community Rewards: The top community members who promote POLX on social media are rewarded periodically. This can help to nurture a community powered growth engine.
This cyclical approach creates a self-sustaining network that provides ongoing incentives to the real users whilst deflation aggressively continues.
This is a marathon not a sprint. Though it would have been ideal to see everything fall into place immediately, we have all endured through various hiccups; some of which are ongoing. Though we can say with a measure of certitude that it is not all our doing, we do take 100% responsibility and will continue to develop as the past does not equal the future. In the biggest picture of all, we believe Polylastic is poised to be a form of futuristic style of investing with a double deflationary burn structure and we have learned from those who came before us. Structurally, there have been a number of well-intended projects that have attempted similar with sub-optimal results due to their lack of real utility. We have taken note, refined our objectives and approach in order to create a utility token and tokenomics that make the product compelling, interactive and user-incentivized.