Hello Cafe Fans,
All of you know the dev wallet generates 9% fees on every harvest transaction made by the user. We decided to burn 50% of it weekly, It will continue as it is going on now. You can read how this is used in tokenomics section of this documentation.
We have decided to bring in a new burning mechanism which will take place on Sunday Every Week in between 6 AM UTC-8 AM UTC.
What is it all about?
We have been burning the 50% fees generated through the dev wallet. In addition to this, we have 7200 $BREW In our dev wallet from presale funds. We thought to put it on a use-case.
We will transfer these funds to a new wallet which will be called the Burning $BREW. We will then stake these funds in the $BREW Staking pool https://cafeswap.finance/pools. The rewards that will be generating through the staking pools will be burned every Sunday on the given time slot.
All the transactions will be done with full transparency and proof.
How will it be useful?
We all know the staking apy is pretty high now and whales/peoples are generating free money without providing LP tokens to sustain the ecosystem.
This methodology will lower down the apy in staking pools and hence people will receive lesser rewards which will make $BREW more worthy.
What's the total burn then?
50% Burn from dev fund + The rewards generated through staking + We will contribute another 20% to compound the staking pool every week.
We will continue this until the apy of the staking pool falls below 1000%.
After the apy drops below 1000% in the $BREW staking pool whole staking balance will be burned in a go which will be the highest $BREW burn of all time.
For this to work out we will be creating 2 new wallets
Burning $BREW which will be the staking wallet.
Team/Ecosystem Fund which will be the main dev wallet containing 30% amount generated every week and will be used to pay out moderators, partnerships, contest, and to the team for working
We will keep on delivering new things to you, Trust Us
Welcome to a stronger cafe.