Whitepaper
DeFi For Everyone
Clutter and jargon is the disease of DeFi ecosystem. It can be challenging to understand what a DeFi project does and what purpose it serves. All of us have seen intricate whitepapers that nobody comprehends up until an audit report appears with major disclaimers.
To be revolutionary, DeFi has to be for everyone and stakeholders should be a part of something that they can understand. A transparent, clean, straightforward project and a genuine, supportive community is what creates the value.
A Brief History
It all started with staking. Community realized they can extract passive value from their holdings. However, there are two sides in every story. The passive value from staking has to be generated from somewhere. Often this is achieved by lending facilities. Lending facilities makes sense at the first glance but the proceeds are often used in shorting activites, which is detrimental to the value.
Afterwards, there comes the era of alt-coins with gamified selling schemes. With referral bonuses and unlimited minting attached to their extremely convoluted contracts, they brought more harm than good.
Holding and staking is not enough. There has to be plenty of liquidity. Ability to sell is what gives a token value. Traditional order-book based exchanges couldn't satify the demand. Swap exchanges responded: "Let there be light". And there was light.
Initially, there were attempts to solve the liquidity problem with manual liquidity locks . This gave way to rug pulls. Discretion almost always kills a DeFi project. In smart contract, we trust. Safecoins solved the liquidity problem by attaching an auto-liquidity feature to the smart contract. However, there comes the million dollar question: "Who owns this liquidity?" Safecoins rewarded its holders but rewards were financed by a tax cut from transactors. High transaction tax gave way to extremely high slippage. It was a feast for frontrunning bots and the community felt stuck.
The Trilemma of the Decade
As things stood, the community is faced with the following three-way problem:
To be revolutionary, DeFi has to be for everyone and stakeholders should be a part of something that they can understand. A transparent, clean, straightforward project and a genuine, supportive community is what creates the value.
A Brief History
It all started with staking. Community realized they can extract passive value from their holdings. However, there are two sides in every story. The passive value from staking has to be generated from somewhere. Often this is achieved by lending facilities. Lending facilities makes sense at the first glance but the proceeds are often used in shorting activites, which is detrimental to the value.
Afterwards, there comes the era of alt-coins with gamified selling schemes. With referral bonuses and unlimited minting attached to their extremely convoluted contracts, they brought more harm than good.
Holding and staking is not enough. There has to be plenty of liquidity. Ability to sell is what gives a token value. Traditional order-book based exchanges couldn't satify the demand. Swap exchanges responded: "Let there be light". And there was light.
Initially, there were attempts to solve the liquidity problem with manual liquidity locks . This gave way to rug pulls. Discretion almost always kills a DeFi project. In smart contract, we trust. Safecoins solved the liquidity problem by attaching an auto-liquidity feature to the smart contract. However, there comes the million dollar question: "Who owns this liquidity?" Safecoins rewarded its holders but rewards were financed by a tax cut from transactors. High transaction tax gave way to extremely high slippage. It was a feast for frontrunning bots and the community felt stuck.
The Trilemma of the Decade
As things stood, the community is faced with the following three-way problem:
- If a token has value and depend on its owners discretion, than rug pull of liquidity is highly likely.
- If a token has value and liquidity is time-locked, developer has to exert significant amount of discretion during and after the lock.
- If a token's liquidity is locked and owner has no discretion, there is nothing left to drive the value up.
A DEEP solution
DEEPMAZE is revolutionary as it solves liquidity, value and discretion trilemma.
Each and every solution in the design is shaped by the learnings from the lessons of history. Albeit, DEEPMAZE has no shelf life. It is designed to last until the turn of the century.
- Automated Liquidity Provision mechanism locks the liquidity into the LPs (Liquidity Pools). Forever and ever.
- Ownerless Community Token design gives no discretion to the developers. There are no developer tokens!
- Crowding Pool is a unique solution to solve the valuation predicament by creating free token flows to holders.
Each and every solution in the design is shaped by the learnings from the lessons of history. Albeit, DEEPMAZE has no shelf life. It is designed to last until the turn of the century.
Automated Burns
Liquidity is collected from the transactors and serviced to the community as it is. DEEPMAZE contract acts as a custodian.
The contract deducts 5% liquidity fee from every transaction and remits the fees into the contract. Collected DPZ is indefinately locked in the contract..
There are no discretionary decisions to make in the process. Every step is pre-coded, transparent and automated.
Most important of all, the owner of that liquidity is the contract itself. hence, there is no need for a time-lock. DPZs are locked forever in the contract.
The contract deducts 5% liquidity fee from every transaction and remits the fees into the contract. Collected DPZ is indefinately locked in the contract..
There are no discretionary decisions to make in the process. Every step is pre-coded, transparent and automated.
Most important of all, the owner of that liquidity is the contract itself. hence, there is no need for a time-lock. DPZs are locked forever in the contract.
Crowding Pool Utility
Crowding Pool drives the value train. We all learned how value can be regulated from Bitcoin (BTC). There is no need to reinvent the wheel.
Instead of taxing the community, contract safeguards a pool. Initial pool allocation is 50% of the total supply. In each transaction, contract calculates a crowding share. Size of the share depends on the value of the transaction and the remaining size of the pool.
Allotment is distributed to the holders on pro-rata basis and alloted amount is deducted from the pool. Crowding Pool decays exponentially similar to BTC supply model.
As the value of the token goes up, transactions generate less and less free token flows.
Ownerless Community Token
The contract is designed to operate ownerless. It is developed for the community and will be owned by the community.
Once the ownership is renounced, there is no turning back. There are no backgates to reclaim ownership sneaking in the lock function. All the liquidity will be owned solely by the contract. This mitiages any centralisation risk.
Furthermore, there are no privileged, fee excluded accounts. It is impossible to give someone privilege. All holders are subject to the same fees. All the transactions calls same transfer function.
There is no developer tokens! Developers are just early holders. No privileges for the developers, whatsoever.
Tokenomics
DEEPMAZE is a fair launch token.
| Total Supply Distribution | ||
|---|---|---|
| Crowding Pool | Initial Crowding Pool in the Contract | 628,797,973 |
| Circulation | Initial Circulation | 43,121,934 |
| Turbowallet Pool | Locked in Turbowallet Contract | 200,000,000 |
| Initial Burn | Internal Burn | 128,080,129 |
| Total Initial Supply | 1,000,000,000 |
How It Works
DEEPMAZE's unique tranasactional framework is simple to understand.
Step 1
Community
transact
DEEPMAZE
transact
DEEPMAZE
Step 2
All holders receives
a share from the
Crowding Pool
a share from the
Crowding Pool
Step 3
5% Liquidity Fee is
deducted from the
transaction.
deducted from the
transaction.
Step 4
Collected liquidity
fee is locked in the
contract.
fee is locked in the
contract.
- In each transaction, a share from the Crowding Pool is crowded to existing holders.
- In each transaction, a share is calculated.
- Share calculation depends on size of the transaction and remaining pool size.
- Crowding Share Formula = (Current Pool Tokens / Initial Pool Tokens) x (Transacted Tokens / Total Supply ) x 50%
- Output is distributed to all holders on pro-rata basis.
- 5% Liquidity Fee is deducted from every transaction and locked as liquidity.
- Accumulated fee split in half.
- First portion swapped for BNB in PancakeSwap.
- Remaining portion and proceeds are paired and locked in LPs as liquidity.
