FomoETH Official Whitepaper
  • Disclaimer
  • Welcome to FomoETH
  • FomoETH Ecosystem
    • Note on the White Paper
    • FomoETH Token
    • NFTagram
    • FomoSwap
    • FomoWallet
  • Fundamentals
    • Initial DEX Offering
    • KYC & Audit
    • Technology
      • Smart contracts and GitHub Repo
      • Smart Contract Audit
    • Monetization Model
    • Community
    • Team & Investors
    • Funding
    • Partners
    • Use of Proceeds
  • Tokenomics
    • Token Distribution
    • FomoETH Token
      • BEP20
      • ERC20
    • Buyback & Burn
    • Governance & Staking
  • Roadmap
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  • Buyback
  • Burn
  1. Tokenomics

Buyback & Burn

Buyback

FomoETH extracts a tax between 0.2~0.5% on each NFT transaction made, and 50% of the tax will be later used for buyback of the FomoETH token. The Smart Contracts will automatically outline this process prior to all transactions to ensure economic transparency is always safeguarded.

Burn

Whenever a sale occurs, 50% of the buyback explained above is immediately burned post-transaction. FomoETH will also perform manual buybacks when necessary and all the manual burn history & proof will be listed for reference. Manual burns will occur on certain occasions in accordance with the current volume and market cap of the token.

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Last updated 3 years ago