Tokenomics
Tokenomics
The MAGABET platform is powered by the $MAGABET token, which serves as the primary means of placing bets, distributing rewards, and participating in governance. The tokenomics of $MAGABET are designed to ensure the long-term sustainability and growth of the platform while providing value to token holders.
Token Distribution
The total supply of $MAGABET tokens is 48 million, with the following distribution:
Uniswap V2 Liquidity
94%
45.12
Marketing
3%
1.44
Development
3%
1.44
Total
100%
48.00
The majority of the tokens (94%) will be added to the Uniswap V2 liquidity pool to ensure sufficient liquidity for trading and to minimize the impact of large trades on the token price. The remaining tokens are allocated to marketing (3%) and development (3%) to support the growth and continuous improvement of the platform.
Token Mechanics
1. Betting Rewards
A portion of the transaction tax (1.5% of the buy tax and 1.5% of the sell tax) will be directed towards a betting rewards pool. This pool will be used to fund additional rewards for users who participate in betting on the MAGABET platform. The rewards will be distributed based on the amount of $MAGABET tokens wagered and the accuracy of the predictions.
2. Liquidity Addition
Half of the remaining transaction tax (0.75% of the buy tax and 0.75% of the sell tax) will be used to add liquidity to the $MAGABET/ETH pair on Uniswap V2. This continuous liquidity addition will help to maintain a stable token price and reduce the impact of large trades on the market.
3. Marketing
The other half of the remaining transaction tax (0.75% of the buy tax and 0.75% of the sell tax) will be allocated to the marketing budget. These funds will be used to promote the MAGABET platform, attract new users, and increase awareness of the benefits of decentralized political betting.
Transaction Tax
All transactions involving $MAGABET tokens will be subject to a transaction tax to support the token mechanics and the overall ecosystem:
Buy
3%
1.5%
0.75%
0.75%
Sell
3%
1.5%
0.75%
0.75%
The transaction tax is applied automatically by the $MAGABET smart contract and does not require any additional action from the users.
Liquidity Lock
To provide added security and stability to the $MAGABET token, the initial liquidity provided on Uniswap V2 will be locked for a period of 12 months using a trusted third-party locking service. This ensures that the liquidity remains available for trading and prevents any potential manipulation by the development team or early investors.
Governance
$MAGABET token holders will have the opportunity to participate in the governance of the platform by proposing and voting on changes to the platform's parameters, such as betting options, reward distribution, and transaction tax percentages. The voting power of each token holder will be proportional to the number of $MAGABET tokens they hold, ensuring a fair and decentralized decision-making process.
By combining a robust token distribution, innovative token mechanics, and a strong focus on community governance, the $MAGABET tokenomics aim to create a sustainable and thriving ecosystem for decentralized political betting.
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