Of course, in order to generate donations, the token needs volume. The team believes SPEECH’s tokenomics will appeal to investors. In addition to helping free speech groups, SPEECH provides incentives to its holders.
The project will have what’s commonly known as a “fair launch”: There will be no ICO, no pre-sale and no fundraising of any kind.
SPEECH will apply an 11% fee to each transaction and instantly split that fee, with 5% going to free speech organizations, 1% going to holders (in BNB), 4% going to the liquidity pool and 1% being burnt. In other words, free speech organizations, token holders and those providing liquidity all get rewarded with each transaction. Additionally, these transaction fees should deter bots from manipulating the price. And because the token is deflationary due to its burn feature, it becomes more scarce and theoretically more valuable with each transaction. Holders will not need to stake. Fees will be immediately awarded by the smart contract to the holders’ balance.
In essence, our token functions a bit like a hybrid of the cryptocurrencies Reflect (RFI) and Sad Cat Token (SCAT).
The total coin supply will be 1 billion tokens and new tokens will not be minted. Here’s a breakdown of the token distribution:
- 80% of all tokens will be ultimately circulated for the public to acquire and trade, although not all tokens will be circulated at launch. 50% of all tokens will first be listed on Pancakeswap and the remaining 50% will be locked. To protect holders from a rugpull or price manipulation, liquidity will be locked and a maximum limit per trade will be imposed to prevent whales from hoarding coins. The charity wallet accrues transaction fees in BNB, so holders need not fear a sell-off of SPEECH tokens anytime a donation is made; the conversion has already been done.
- A fraction (approximately 20%) of tokens will be set aside to provide the team with the flexibility to fund start-up fees, business development (such as exchange listings), marketing and operating fees.