I saw the app and it's pretty good, it's just that it's still waiting for launch, but there are many projects that offer auto stakes, the only thing that makes me a little uncomfortable is the amount of tax when doing BUY & SEL, what is the main purpose of taking a large enough tax, does it only pay for the holder?
Hello The Rise,
Thank you, yes the launchpad dApp is absolutely amazing and we have not revealed the true potential as of yet.
A full show case will be released very soon and we are not holding any sales until it is available to the public (ETA around 1.5 to 2 weeks).
The dApp is actually complete and in fully working order, however, it will not be released until every point is quality checked, tested and polished.
In terms of the question about tax, it is 12% for buys and 14% for sells, this is as standard for now.
Here is the breakdown for this:
Buy Fees
Total: 12%
2% - Goes to the liquidity Pool
3% - $NOVO Allowance fund: The fees for trading are accumulated in the NAF assisting in sustaining and backing the staking automatic rewards distributed
3% - The $NOVO Bank: These fees are forwarded to the TNB which in return supports the NAF by providing funds for $NOVO marketing and all its development
1% - The Mariana Trench: 2% of all $NOVO that are traded are burnt in TMT, it reduces the circulating supply of $NOVO and keeps Novoos stable.
2% - BUSD rewards: The rewards are redistributed from the pool after reaching a threshold in the contract and forwarded to $NOVO holders
1% Jackpot: This fee is used by the jackpot contract
Sell Fees
Total: 14%
3% - Goes to the liquidity Pool
4% - $NOVO Allowance fund: The fees for trading are accumulated in the NAF assisting in sustaining and backing the staking automatic rewards distributed
3% (+2% Impact Tax) The $NOVO Bank: These fees are forwarded to the NB which in return supports the NAF by providing funds for $NOVO marketing and all its development
1% The Mariana Trench: 2% of all $NOVO that are traded are burnt in the Mariana trench, it reduces the circulating supply of $NOVO and keeps Novoos stable.
3% - BUSD rewards: The rewards are redistributed from the pool after reaching a threshold in the contract and forwarded to $NOVO holders
As you can review from the above, it hugely benefits holders, some of the benefits are below:
BUSD rewards, hourly and daily jackpots for holders and investors, auto liquidity for price stabilization, auto burns, auto buybacks etc.
Additionally, it has to be taken into account that the NAC contract is dynamic, this means there will be tax reliefs dependent on market conditions and also special periods to entice investors by offering a lower tax break.
There are also marketing plans too for the tax in future where there will be a very low tax applied which in return benefits all investors and holders.
We are hoping the above has answered your questions, do let us know if we missed anything or would like us to address anything else.
Please ensure you review the whitepaper too which has many of the details about the Novoos project.
Our dApps that are public, live and ready for launch:
1. BUSD Rewards dApp
2. Stake dApp
3. Jackpot dApp
4. Wrapping dApp (Like $wBNB to list on major exchanges)
Kind regards,
The Novoos Team
