Buyback/Burn Policy

Soothe the burn, wake me up

The Buyback/Burn policy has been changed as the result of a community poll!

• The buyback wallet remains active for the remainder of Layer 1, but any unused funds can be carried forward to fund a similar buyback wallet for Layer 2

• NO BOUGHT BACK TOKENS WILL BE BURNED!

  • This is because we will use all available LITHIUM tokens to drain funds from the Quickswap LP pair at the conclusion of the Layer 2 presale swap period

  • After that, 100% of the recovered funds will be sent to the MYFRIENDS (ownership) contract so that all Layer 2 MYFRIENDS stakers receive proportional shares of the money

• All buybacks are scheduled at the creator's discretion

Current policy:

• 60% of the deposit fee will be used to buy back LITHIUM tokens

  • At least 50% of the bought back tokens will be burned directly after the buyback

  • The remaining bought back tokens are stored for partnerships (e.g., beefy vault bonus tokens) or liquidity reclamation (only at the end of the Layer 1 to Layer 2 swap period)

  • No tokens will be burned. All will be retained for either partnerships or liquidity reclamation (see below).

  • At the end of the swap period from Layer 1 to Layer 2, those tokens not provided for partnerships will be used to reclaim liquidity funds, 100% of which will then be distributed to tokenized owners via the Layer 2 ownership contract

• 15% of the deposit fee will be used for marketing/infrastructure

• 25% of the deposit fee will be designated as a dev fee for band performance

© 2021 Sugandese Tokens