What is Welfare?!
Well let’s get right to it! Welfare is a BSC project built around long term sustainability through a combination of token taxes and staking lock up rewards!
Let’s first talk about the token $WIC.
40% of the total supply directly into the burn address creating a black hole that will grow larger with each transaction due to the redistribution tax.
6% of the total supply will be sent to a bonus vault which we will explain shortly.
4% of the total supply will be locked as a developer fund for one year.
25% of total supply to be used for IDO.
25% of total supply to be added to liquidity pool.
These numbers change when talking about circulating supply vs total supply
This equates to 83.3% of circulating supply trading at the time of launch.
6.67% developers fund. (Locked one year)
10% sent to bonus vault.
This is a big part of this tokens economy. We have a large tax, avoided in the initial IDO raise, that funds our unique and sustainable staking system.
30% total tax on most transactions.
9% liquified and sent directly to liquidity pool and the LP are burned.
6% frictionless yield (reflect) that redistributes To both holders and stakers. It also is sent to the black hole (burn address) and removes those tokens from supply forever!
15% gets sent to our Social Security fund (staking rewards)
These taxes are not applied on staking and unstaking!
To preface the design of staking let us start by saying we have set aside 10% of the circulating supply to be used as rewards for early stakers and we will get into this shortly.
Staking is funded by the 15% Social Security tax and yield per person is greatly increased by length of lock up period. Length of staking ranges from 1–88 months.
If you lock up your tokens for one month the weight of your share would be 1. If you lock up for 2 months your weight would be (1+2=3) 3. If you lock up for 4 months it would be (1+2+3+4=10) 10… and so on and so forth up to 88 months… meaning the longer you lock up, the larger your share of the Social Security pool!
Now back to the 10% of circulating supply we mentioned earlier for the bonus pool. This pool will only be used until the funds are depleted and once you lock in your months you are guaranteed your bonus throughout the length of your stake period.
If you lock 1 month you get a 1% bonus on rewards. 2 months is 2% all the way up to 88 months for 88%…
As you can see locking up early and for a long time will net you exponentially larger rewards. Reward claiming can be done at any time and it is also important to express that you still accrue your reflect tax while you are staked and this is retrieved every time you unstake.
We strongly believe in these tokenomics and staking system as we have seen both of these succeed independently and we believe but combining these features together this will result in an amazing a long term project with unlimited potential for growth!
Be sure to join our ongoing gleam contest here: https://gleam.io/JNjQK/welfare-wic-ido-tier-5-pass-contest
Follow our twitter: https://twitter.com/welfareonbsc
Join our telegram: https://t.me/WelfareOnBSC