$MFLATE) is a deflationary, variable redistribution token on the Binance Smart Chain. Launched on May 16th, 2021 by the original developer. He wanted to create a platform where project could come and find Meme creators offering their services and receive $mflate in payment. The original developer of the token could no longer continue with the project due to personal reasons. As a result of this, I as a community member and smaller businesses owner invested in the possibilities of MemeFlate and its concept and on the 16th of june 2021 the developer entrusted me with ownership of the contract because he believe I could make something of it, due to my persistent pestering to him about the project.. with that said, I now wish to expand on the original concept and create an all inclusive multi media platform, which will ‘House’ promote and sell Creators Content, ranging from Memes/Vines, Art, Graphic Design, Video/Music Production to building sites and platforms for other companies and people looking for a unique “House” where artiest are praised and reward by the community. *please click link below for my extensive White-Paper* https://memeflate.io/white-paper/
Keeping in lines with why I personally invested in MemeFlate is its unique $MFLATE Tokenomics, the reflection rate is not fixed!!.
Re-distribution tax can be to set at a fix % by the contract owner or by way of a community voting system embedded into the smart contract, hourly/daily/weekly.
This gives the community and myself the chance to use this unique feature as a tool for marketing and promoting our platform mixed in with some fun ways the community can have a BIG part to play in how our price floor is built and maintained.
$MFLATE holders can use their tokens to vote on redistribution rates on our memeflate.io website via the community-tax-vote-form page.
Voting is then closed myself the contract owner and current rate of tax is changed.
The tax rate can vary anywhere between 1% and 30%
(slippage is always 2-3% higher than the current tax rate)
Token holders planning to Hodl long term may prefer a higher tax rate so they can benefit from the transactions of others, while people planning to sell sooner may vote for a lower rate allowing them to leave with more profit.
Ultimately the community decides.
A Deflationary Token reduces the token supply over time thus increasing the value of the remaining supply. $MFLATE accomplishes this in two ways.
50% of the initial token supply was burned at launch. As a result the burn wallet is the top $MFLATE holder, and due to the redistribution mechanics it receives a large percentage of the transaction tax. Currently over 66% of transaction tax has burned/removed from the token supply forever. This number will only increase over time which means $MFLATE is already a rarity.
Additionally, all tokens used to vote on a redistribution rate are burned, we like to call it “Burn To Benefit ”.
You can vote for a new redistribution rate in the voting section of this website. The voting section displays the current tax rate, the current vote totals, and will allow you to use your tokens to vote for a new rate.
To vote, simply connect your wallet, select the new rate you would like to vote for, and enter the amount of tokens you wish to vote with. Please note that you will not get these tokens back. All tokens used to vote are burned forever.
You can also vote by directly writing the contract on BscScan.
Vote for a tax change
To interact directly with the contract, visit the contract on BscScan and connect your wallet by clicking the “Connect to Web3” link. You can use the
taxVote function to vote for a new redistribution rate.
propsedTax field enter the redistribution rate you would like to propose. This must be a whole number between 1 and 30.
amount enter the amount of tokens you would like to vote with. The weight of your vote is determined by the number of tokens you commit, however please note that you will not get these tokens back. All tokens used to vote are burned forever.
IMPORTANT: After entering the number of tokens you would like to vote with, you must add nine (9) zeros to accommodate for the token’s 9 decimals!
For example, if you wanted to vote with 100 tokens, you must enter 100 followed by nine more zeros (000000000) for a total amount of 100000000000.
Votes are tallied and the redistribution rate is changed by myself the contract owner.
PancakeSwap can be finicky at times and the error messages can be less than helpful.
The first thing to check is that your slippage is set higher than the current redistribution tax. When
$MFLATE launched the redistribution rate was 15%, however due to the special nature of our token this can change daily and varies between 1% and 30%. See the previous questions above to learn how to read the contract to view the
Due to the mechanics of this token, ownership has not been renounced. Renouncing ownership would sever access to the redistribution functions built into the smart contract.
If in the future the community decides that the security of renounced ownership outweighs the benefits of the variable redistribution rate mechanics, ownership will be renounced.