Fire Token is a deflationary BEP-20 that uses the reflection model to benefit holders and guarantee the project longevity. Fire Token has a built-in mechanism to secure funding for marketing and does not have Safemoon issues with the Liquidity Pool Tokens.
Fire token taxes sellers by 6%:
Holders of Fire Token will be rewarded 2% of every transaction; in other words, it is an in-wallet staking mechanism that does not require tokens to be locked.
Fire token depends on Pancakeswap liquidity pools to have a market. For that reason, there is a 2% tax on every transaction, used to add FIRE and BNBs back to Pancakeswap Liquidity Pool to guarantee that there is always liquidity for Fire Token.
Lastly, there will also be a 2% fee on seller transactions directed to the Marketing Fund. The tokens on this fund will be 100% used to grow theproject.
Security:
The Problem: Most projects in the Binance Smart Chain from 1 million to 1 billion market cap are all forks, not say copy and paste, of Safemoon. Fire Token used the Safemoon contract as a base, but we removed several functions that served no purpose and fixed a security vulnerability. Safemoon and all their forks have functions that allow them to exclude addresses from getting rewards and not pay fees. They also have functions that enable them to update the fees, which means that in theory, Safemoon & Co could increase the liquidity fee to 100% and force all transaction value to be added to the Pancakeswap Liquidity Pool. This, combined with the fact that they designed their contract to receive the new-minted liquidity pool tokens, allows them to do a rug pull at any time. Most forks are forced to renounce ownership to fix this issue, which can have long term consequences.
The Solution: Fire token removed all functions related to this to keep its users safe. Fire token does not allow the owner to update the value fees nor exclude accounts from fees or rewards. Furthermore, new-minted liquidity pool tokens go directly to the burn address, making the Fire token rug proofed. These features make the Fire Token the safest deflationary reflection asset to date.
SupplyThe supply was kept at 1 billion tokens, so prices remain readable to holders. Our Dev Wallet started at 5% of the total supply. However, 2% will is used for burn events, and 1% is allocated for Airdrops to increase adoption. In the end, we will have a dev wallet of 2%. The Burn Wallet will start with 30% of the supply, which means it will burn 30% of the tax rewards and grow by 2% of every transaction forever—this ensures that as volume increases Fire Token deflationary rate also increases.
Marketing FundMost projects rely on donations to fund their marketing—instead, Fire token taxes the sellers to support our marketing instead of depending on our holders.
We have an address dedicated solely for marketing purposes, which anyone will be able to track as transactions can easily be verified in the blockchain. Every week, there will be open discussions in which community members will participate in crucial decisions on how to spend the funds in this account. Without exposure, exchange listings and events, holders get quite troubled and move to other coins. This will ensure that Fire Token will always have enough funding to grow its community.
The marketing funds can also be used for charitable purposes if the community wishes to—the aim is to empower the community to control how the marketing should be planned and made.
