BOGE is a deflationary autostaking coin on Binance Smart Chain with a fixed supply that powers BSCgems.com voting app. No more BOGE can ever be minted. Every transaction 2% is burned and redistributed to token holders. The original DOGE uses mining which is electricity intensive, and has a large effect on our carbon footprint. BOGE being built on Binance Smart Chain is much more energy efficient. contract: 0x248c45af3b2f73bc40fa159f2a90ce9cad7a77ba
In order for the autostaking functionality to proportionally redistribute specific percentages to specific wallets, the initial coin distribution needs to reflect those percentages. The initial distribution of BOGE tokens is as follows:
Over time, the burn wallet will take more of a percentage of total holdings, and the coin will become more and more deflationary, sending the price higher.
In many scenarios it definitely could be considered deceptive because its not actually a true burn as it doesn't remove coins from circulation, because the coins haven't been circulated yet. Scammy projects have used this trick to make it seem like more coins have been burned than actually have. When we give burn amounts, we do NOT count the original 1 million burned. It is burned at genesis so that the burn wallet makes up 50% of total supply (this will grow over time) and the autostaking distributes more burned coins to that wallet. If the burn wallet started with zero, it would not receive more burned coins automatically because its proportion of total supply would be zero.
With the above distribution, the autostaking mechanism proportionally redistributes the 2% transaction fee to all wallets.
Keep in mind, anybody who is receiving BOGE in their wallet, should expect to receive 2% less than sent with the fee. However, they will also receive distributions from their own transactions, so the end user pays less than a 2% fee after redistribution is settled, and will continue to earn redistributions over time as more users transact.
Bill has 100,000 BOGE tokens, 5% of the total 2,000,000 supply. Bill sends all 100,000 tokens to Ted. The transaction incurs a 2% fee, so Ted receives 98,000 BOGE. Ted now has 4.9% of the total supply, and would receive some of his own fees back during autostaking. The total fees paid are 2,000 BOGE, of which 4.9% (Ted's holdings) would equal 49 BOGE. Half of the 2% would go to him, so So in reality from the 100,000 BOGE transfer, Ted received 98,049 BOGE total. Ted and all holders will continue to receive fees autostaked from all user transactions.
Reducing the supply of BOGE increases the price through deflation. Unlike many yield farming or staking projects that are burning tokens from what they mint, our burns are legitimately pulling coins out of circulation permanently. Real deflation will push the price higher by making all of the tokens more rare with every transaction. Since the burn address makes up 50% of total supply of BOGE initially, it will receive half of the 2% fee with every transaction. Over time the burn wallet will make up more than 50% and the burn wallet will consume more of the 2% transaction and become more deflationary. The burn address can be seen here: 0x000000000000000000000000000000000000dead