📈 Tokenomics PROFIT¶

Tokenomics

Profit Token¶

PROFIT is a native token of Take Profit Finance

It’s a fair launch and only 100 000 tokens are minted for initial liquidity and 5 000 for Airdrop. We anticipate for natural and organic growth. After launch minting ability will be restricted to the minting contract.

The supply is infinite but PROFIT will be only minted on profit from Vaults.


Contract address 0x3DF30324c768423629A220f77c0134A6E96cc261

Proof of burn for liquidity Cake-Profit

Liquidity Cake-Profit chart

Minting¶

PROFIT is inflationary token but it’s pegged to CAKE. We have seen many strategies to mitigate attacks on minted coins and we took the approach to mint a relative amount of tokens based on CAKE earnings from the Vaults. This way we are not tied to Decentralized Exchange prices for token or external Oracles.

100 000 PROFIT tokens minted and joined with 100 CAKE as initial liquidity.

We decided to go for such low liquidity because:

  • Auto adding liquidity will quickly kick in when Vault V2 will be used

  • We don’t want to have presale. We believe that it can make sense for some projects but currently there are too many scams. A good product will defend itself on the market

  • We want to give the opportunity for early investors to come from the community

For every CAKE earned, Vault will take 10% performance fee which will go fully to the liquidity pool. Based on this performance fee, relative amount of PROFIT tokens will be minted, starting with ratio of 500x PROFIT per CAKE. Because getting the reward will automatically do a buyback and add liquidity, PROFIT tokens will be worth more than when they were claimed.

AirDrop¶

To increase recognition for takeprofit.fi there will be 5 000 Profit tokens minted for Airdrop. Tokens will be divided between users that used Vaults and some for people on social media.

Anyone that puts Cake into Vault V2 will get share of the Airdrop. AirDrop ends on 31 July 2021 00:00 UTC.

Auto Liquidity¶

Every claim on the Profit Vault will trigger an automatic liquidity addition to increase the price floor of our PROFIT token. This means that just holding Profit tokens will be beneficial when https://takeprofit.fi users will take profit and claim rewards.

Automatic liquidity will go to the dev address and it will be sent to a dead address every Monday!