Lite Paper — v1.0

We are glad to introduce you Back Trade, the world’s first decentralized cash back system. Our solution will be able to fully reimburse everything you buy on the blockchain, no matter what it is.

Buy your favorite Coins or NFTs and get 100% BACK.

How it will work:

• Go to our website
  Our interface will support nearly every token that you love! We achieve this by simply aggregating other DEXes or dApps.
• Buy whatever you wan
  Each time you buy something, our smart contract will record how much you spend, gas included, so you don’t have to worry anymore about high gas fees.
• Claim your cash back
  Every week you will be able to claim up to the 100% of what you spend. The cash you get back will depend on how many BACK tokens you are holding in your wallet

Technology:

Our goal is to create a series of Smart Contracts that will interact with all the most famous DEX aggregators on the market.
Each smart contract will simply forward the purchase request to all these services, while recording the amount spent in USD for that transaction at that precise moment, including gas fees.
Every week, all users who have BACK tokens in their wallet can request a cash back of up to 10% of the USD value of their BACK tokens holdings.

Example:
I have $1.000 worth of BACK tokens in my wallet. A week later, I have spent $98 on the DeFi, so I will be able to claim $98 in BACK tokens.

Example 2:
I have $10.000 worth of BACK tokens in my wallet. A week later, I have spent $10.042 on the DeFi, so I will be able to claim $1000 in BACK tokens.

We are currently deciding which will be the first blockchain on which we will launch the project: Polygon (MATIC) or Ethereum (ETH). Since we will be aggregating DEX aggregators, the decision on which blockchain to start will not affect the implementation roadmap in the slightest, since we have already chosen to use 1INCH aggregator which is present on both MATIC and ETH.

After we successfully launch our solution on the the first blockchain, we will port our project to other blockchains, our goal is to launch on Polygon, Ethereum, Binance Smart Chain and Fantom blockchains before the end of this year. Our main final goal is to integrate any famous decentralized service out there, such as: 1INCH, Matchaswap, Opensea and so on…

Supply & Farms:

The Back token has a total supply cap of 500,000,000 BACK tokens:

• 50%: Claimable
  These tokens will be reserved to be claimable by BACK holders after the platform will be published. This pool will be replenished automatically thanks to the tax applied on any BACK transaction by design.
• 30%: Farmable
  You will be able to farm BACK tokens by staking other cryptos on our platform during the initial phase. There will be a 3% farming fee on each deposit which will be immediately converted in MATIC or FTM and used as liquidity
• 10%: Liquidity
  These tokens will be used as liquidity in conjunction with the farming pool fees, feeding the BACK/MATIC or BACK/FTM pool. This will help the first movers to buy BACK tokens without a huge price impact, attracting more people.
• 5%: Team
  These tokens will be used to reward the Back Trade Team, and they will be released linearly for 6 months. This will ensure a fair initial distribution and avoid any dump
• 4%: Partnerships
  Partnerships with other project, influencers or advisors will be carried out thanks to these funds. The Back Trade Team will be open to take feedback from the community to decide who to partner with.
• 1%: Airdrops
  We need to loudly kickstart our project, so we decided to allocate a small portion of the tokens’ total supply for airdrops and community activities to gather the first users and make ourselves known.

Sustainable Tokenomics:

The BACK token has a 10% per transaction tax every time is sold, bought or sent to another wallet. The 9% of this tax will be used purely to resupply the treasury which is used to claim BACK, and only the 1% to the foundation wallet.

The foundation pool will allow the project to have the funds to organize hackatons, obtain partnerships and, in rare cases, have a buffer to put into the claimer pool.

As previously stated, the weekly cash back percentage per claim is set for 10%. Future governance votes will further decide what the cash back percentage and tax percentage will be going forward.

There are plans for a lot of new additional buy back methods to integrate as Back Trade develops further.

In the extreme case that the claimer will run out of BACK tokens, it means that no one is selling them and therefore Back Trade will be without any doubt the most used decentralized exchange ever. This means that no one will be able to claim cash back anymore, but holders will end up having the governance token of the most famous DEX on the planet. Obviously when someone will start selling again, the claimer pool will repopulate and the cashback system will be back active.