Transfer Fee

Overview

Based on the design philosophy of PolyQuity, the protocol does not have any function of governance or voting. Therefore, we designed this system to encourage holders to stake PYQ in long term to capture more platform fees. ‌

Transfer Fee

Mechanism:

The token contract will charge the fee(floating) for each PYQ transaction.

• A part of the fee will be allocated to the PYQ Staking Pool;

• The other part will be permanently burned.

The fee rate will be automatically adjusted according to the Total Burned Amount. The maximum destruction limit is 300 million PYQ( 30% of total supply).

For details, see the following instructions, involving 3 stages:

Phase 1. Genesis Period

Transfer fee: 25%

• 10% will be distributed to the PYQ Staking Pool

• 15% will be burnt

Termination Condition: Total Burned Amount ≥ 3 million

Note: In the early period, PYQ stakers will significantly capture the benefit generated by lending. The system encourages stakers and punishes transferers.

Phase 2. Transition Period

Transfer Fee: 5%

• 4% will be distributed to the PYQ Staking Pool;

• 1% will be burnt

Termination Condition: Total Burned Amount ≥ 300 million

Phase 3. Stability Period

Transfer Fee: 1%

• 1% will be distributed to the PYQ Staking Pool;

• 0% will be burnt

Note: when the total amount of burns reaches 300 million, the PYQ will no longer be burned.

Whitelist：

• Stake/Unstake PYQ in PYQ Pool

• Withdraw PYQ from Stability Pool and all Farming Pools

• Remove USDC-PYQ - LP in SushiSwap

• Middle-Layer Contract (Used for adding USDC-PYQ-SLP )

• Transfer from Multi-Sig wallets

• Buy USDC/PYQ in SushiSwap

• Address of initial liquidity

*Above operations in whitelist are exempt from the transaction fee.