Automated Burning

As we have mentioned above, each transfer of LOOPS must pay an 3,5% transfer tax. The 1% transfer tax will be allocated to automatic liquidity acquisition. The other 2% transfer tax will be burned immediately. The whole process is automatic.

Black Hole Address: 0x000000000000000000000000000000000000dEaD Remember the Black Hole wallet described in the reflections part of the guide above? That is the burn wallet. It will steadily rise in size until it reaches 50% of the total LOOPS supply (100.000.000 LOOPS), at which point it will halt. Now why is it called the burn wallet? Well, the LOOPStarter has a deflationary aspect, which is called the BURN. The burn wallet takes its portion of the reflections based on its percentage of the overall supply and functionally does just that - it burns them. The burn wallet 0x0000...dEaD has no seed phrase, meaning these reflections are sent to an inaccessible address that can never be retrieved or interacted with by anyone.

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