THE Contract
A truly decentralized and deflationary contract
Last updated
A truly decentralized and deflationary contract
Last updated
Our protocol is governed by smart contracts and that starts with the tokenization of our utility token, $THE. Our unique contract is the first to turn the most transferred piece of data into a deflationary digital asset.
The most important factors of our contract are that it is decentralized, zero tax, deflationary, and safe.
The decentralized aspect of our contract comes down to the ownership being renounced turning $THE into a community token. Ownership was renounced at launch and since then the community has taken control of the project and built the DAO, putting the power of the community into the hands of the people.
Taxation on cryptocurrency transactions can make it less attractive for users to adopt and use the currency, as it increases the cost of transactions and reduces the incentive to hold and use the currency. Having taxes on a token also increases the likelihood of it being classified as a security and thus being subject to stricter rules and regulations. Additionally, having a tax in a token usually means that there is a centralized entity that makes decisions on what to do with the tokens earned from taxes and that takes away from the decentralized nature of our project. For these reasons, our token will always remain a Zero tax token.
It is important for a cryptocurrency to be deflationary because it helps to combat inflation and maintain a stable token economy. Inflation occurs when there is an increase in the overall supply of tokens, which can lead to a decrease in the value of each individual token. A deflationary cryptocurrency, on the other hand, reduces the overall supply of tokens, which can increase the scarcity of the tokens and drive up demand, which in turn can lead to a higher token price.
We have an automated burn in our contract that sends 0.25% of the remaining $THE tokens in the $THE/$ETH Uniswap V2 LP to the BURN ADDRESS.
It is important to note that only our $THE native tokens are burnt during this transaction and our LP's $ETH remains in the pool untouched by this function, which means that this does not have a negative impact on the health of our LP.
Because our contract ownership is renounced there is no avenues for exploitation and the initial LP used to launch the project was burnt as well! Additionally we have our contract audited by the most notorious auditors in the space, CertiK (Link below).
