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.
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).
Phase 1. Genesis Period
Phase 2. Transition Period
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.
*Above operations in whitelist are exempt from the transaction fee.