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- Community Token
CroMoon is an CRC20 token on the Cronos chain with a total supply of 1.000.000.000.000.000. It works like all other CRC20 tokens but the team included some additional features in its transfer function that are unique in the original smart contract. These features are a Transaction Fee, Reflection, and Liquidity Pool (LP) Acquisition.
Transaction Fee — every transaction incurs a 10% fee
5% Reflection — Holders earn passive rewards through static reflection as their balance of CroMoon grows
5% Liquidity Pool Acquisition — A percentage of all transaction fees is added to the liquidity pool. To keep the liquidity pool balanced 2.5% is added to the CRO token and 2.5% is added to the CroMoon token. The recipient of the LP units is the CroMoon team. To keep the funds safe we will add half of the 5% Liquidity Acquisition to the Liquidity Locker every week. The other half will be used for our Afterburner Effect (explained below)
Once a week, half of the LP tokens produced by the contract will be withdrawn into equivalent portions of CroMoon and CRO. The CroMoon portion will be burned, and the CRO will immediately be used to purchase CroMoon from the market. The purchased CroMoon will then also be burned.
AFTERBURNER events will happen once a week on an entirely random basis and will be announced only after the above process is fully complete in order to prevent any manipulation or timed buying/selling.
The Afterburner program will simultaneously induce community hype whilst creating a significant positive price action and providing a burn outlet for the contract-generated LP tokens.
Shortly after launch the team burned 10% of the supply. By doing so it create a ‘blackhole’ which will, thanks to the reflection mechanism, suck CroMoon tokens out of the supply and burn them. This turns CroMoon into a deflationary token, because every transaction some CroMoon gets send to the burn wallet.