BACK token is live!
As many of you know, unfortunately the farming phase had a big delay due to the strong instability that hit the crypto market during the last month. As you can imagine, we want to launch the project during a time frame of flourishing market.
The reason is simple: we strongly believe that waiting for the right moment is not only good for the project, but above all, for the people who will participate in the farming phase, the most important phase of the project.
That said, there is also some great news: it is with great pleasure that we inform you that we have just published the BACK token smart contract on the Matic blockchain.
Not only that, we have also checked the source code so that you can consult it during these days of waiting.
You can find the full code here below:
Below you can find a brief analysis of some of the highlights of the code.
Default Parameters
As you can see the actual fee percentages have been deployed within the contract itself. Standard fees are 9% for “Claimer” (the cashback contract) and 1% for Fundation. As already mentioned previously in the Lite Paper, these two parameters will be changed by the governance, but for now they are controlled by us.
For this exact reason we’ve implemented a very important feature: max fee percentages. These are fixed parameters and nobody has the ability to change them. It’s a feature developed for user’s protection and to avoid someone setting the fee to an higher percentage or even to 100% by making it impossible to buy or sell tokens, thus exit scamming everyone. The maximum fee will be 20% for the Claimer fee and 5% for the foundation.
Whitelists
Another important feature is the ability to create a list of addresses in sending and receiving tokens free of the taxation fee. This could be useful for situations like harvesting the farm, claiming the cashback or even in future projects!
This is an override of the classic _transfer function of the ERC20 standard and the main function of the BACK contract: We check if the sender or the receiver address is whitelisted and then we proceed to apply the fees. You can hereby spot a secret feature that we will illustrate in the near future 👀 that interacts with the Claimer Interface (already developed).
Internal Functions
These are Internal functions that apply to the Fundation’s and Claimer’s fees.
Very simple logic as it should be.
Awesome ideas are very simple.
Stay tuned for more updates!
