PHENIX is a fair launched community driven token deployed on the Binance smart chain and fair launched on DxSale July 13, 2021. The purpose of PHENIX is to create a value backing token that can automatically reward holders from transaction fees. Transaction fees are produced by trading volume. The more daily volume that PHENIX has, the more rewarding it is for all holders.
The crypto market is the Wild West frontier of financial innovation, risk, and reward. While Bitcoin has cemented itself as king of the crypto market, there is an exceptional amount of utility that can be offered by smart contract technologies (alt coins). Alt coins take the brunt of market manipulation and have always been known for their ability to yield massive gains but also experience heavy volatility and high risk. If an alt coin was designed with an incentive model that could simultaneously reward holders, add real value backing, and have built in deflationary measures, it has potential to succeed in becoming a valuable asset long term.
The $PHENIX token has an incentive model that is designed to benefit all holders. In order for the token to function it is necessary to use the smart contract to pull a small transaction fee from every transaction. The fee is 5% and is broken into 3 parts that all have a purpose for benefiting the community of holders. This transaction fee is the fuel for generating the Ember distribution model on $PHENIX. One Ember is equivalent to one $PHENIX. The term Ember was chosen to explain the features of the smart contract.
Transaction Fee & Embers
The 5% transaction fee on all transactions with $PHENIX is used to generate 3 types of Embers; Ember Rewards (3%), Backing Embers (1%), and Liquid Embers (1%).
Ember Rewards 3%
Backing Embers 1%
Liquid Embers 1%
Ember Rewards I
An automated reward mechanism is a valuable utility for incentivising users that are interested in earning a passive reward. 3% of the transaction fee is used to generate Ember Rewards that are automatically sent by the smart contract to all holders propotionate to their wallet weight. A wallet with 0.01% of token supply will receive 0.01% of the Ember Rewards. This is issued automatically by the block from the $PHENIX smart contract.
Ember Rewards II - Burn Rewards
PHENIX is deflationary and burns itself with every transaction. It has been designed with a burn wallet that is the largest token holder. The burn wallet has no private keys and tokens sent to it are lost forever. A burn function increases value on any network by adding a deflationary economic factor. Not only does the burn wallet reduce token supply, it is also randomly blacklisted from receiving tokens. This is a unique feature to the $PHENIX token. When the burn address is blacklisted (turned off), the rewards it would have received are now sent to all the holders allowing for random periods of time where rewards are increased. Due to randomness, the mechanism cannot be gamed or predicted as to when the ideal time to buy the token is. This increases network rewards for the community and incentivises holding long term.
Backing Embers are $PHENIX tokens from the transaction fee (1%) that are liquidated and swapped into a locked $USDC multi-sig wallet. This was designed to add value to the network that is not speculative and that is always accumulating. This design adds real intrinsic value backing to PHENIX. The more that PHENIX is utilized and the more it transacts, the more $USDC value is added. Chainlink’s Proof of Reserve will be used to verify the asset value that backs PHENIX.
Liquid Embers are $PHENIX tokens from the transaction fee (1%) that are returned to the PHENIX/BNB liquidity pool on pancake swap. Without liquidity AMM (automated market maker) liquidity pools on markets like Pancake Swap can be subject to extreme volatility. A larger liquidity pool allows larger transactions to process without having a significant price impact. This feature benefits liquidity growth and enables the pool to expand over time.
With sufficient growth and transaction volume $PHENIX will be able to be integrated into larger avenues of utility. The ultimate goal of $PHENIX is to find ways to increase transaction volume and grow the liquidity pool.