MGED refers to Moonpet Legend Token, the token for the game ecosystem. MGED follows the standard BEP20 token on the Binance Smart Chain platform (BSC) and is controlled by smart contracts.
The primary utilities of the MGED token are:
MGED tokens are used for farming Points that users can use for NFT redemption.
MGED tokens are used as a payment currency in MGED NFTs Marketplace along with other tokens.
In the future, Moonpet Legend Ecosystem will update with more use cases for the MGED token.
Deflation Mechanism
CEX transactions will be whitelisted and as such, will have no taxes (meaning that trading on Hotbit, Gate.io etc. will be untaxed).
For each buy/sell transaction on DEX - there will be “Reflection”: the 2% fee is subsequently distributed among all MGED holders.
The second component, 2% Auto-LP is the fee that will be paid and then distributed to various liquidity pools on DEX’es (PancakeSwap, Apeswap, among others).
The third component - 2% is a token burn that occurs at the conclusion of each transaction.
Anti Whale
Transaction more than 0.2% of total supply will be rejected. As the total supply grows, this ratio will be reduced.
Harvest Lockup
We use harvest lockup based on time. Harvest lockup is a unique rewards lockup mechanism used to limit the frequency of harvest. It is designed to prevent farming arbitrage bots from constantly harvesting and dumping.