Comment on page
Fees and Allocation
Magicverse employs three indirect routes to supply Orb Tokens to the Main Contract:
In every transaction of Orb Tokens (buy or sell) that takes place, there is a 5% transaction fee which is deducted from the user's balance that committed the transaction and is being sent to the Main Contract.
50% of the price paid, in Orb Tokens, for opening a Magic Box is being transferred straight away to the Main Contract.
If a user decides to unstake his Orb Tokens within 30 days from his latest deposit, 2.5% of his unstaking amount will be transferred to the Main Contract.
Once the Main Contract accumulates Orb Tokens through these routes, it undergoes a conversion phase. During this phase, 90% of the accumulated Orb Tokens are converted into the native coin. Following the conversion, the Main Contract allocates its balance between Orb and native coins accordingly.
10% in Orb Tokens (that are left unconverted) + 10 % in native coins are being injected into the Liquidity Pool.
20% of the total amount that the main contract accumulates, is used to aid the Liquidity Pool of ORB. The constant increase of the Liquidity Pool ensures a more healthy and stabilized price and is vital for the project's longevity.
The biggest proportion is being transferred to the Magic Farm Pool.
The core objective of Magicverse is to establish an engaging ecosystem where users actively participate and reap rewards. This significant allocation serves an essential role in upholding the central theme of Magicverse.
In addition to the indirect fees, there is a 6% fee embedded in our NFT Marketplace, playing a crucial role in providing additional funding to the Magic Farm Pool.
- 4% Allocation to Magic Farm Pool: This portion of the fee is directly channeled into the Magic Farm Pool. It is designed to be distributed among the active stakers, enhancing the passive income for those actively participating in the Magicverse ecosystem.
- 2% Allocation to Development: The remaining 2% of the fee is directed towards the development wallet. This allocation is integral to supporting the ongoing development and growth of Magicverse.