THE CULTS CULT token (RITUAL) is designed with a deflationary mechanism and multi-reflection rewards system. Holders can choose which token they receive as reflections, creating a unique and flexible reward system.
Total Supply: 1,000,000,000 RITUAL
Initial Circulating Supply: 1,000,000,000 RITUAL
ETH-Based Reflection System: Unlike traditional reflection tokens, THE CULTS CULT collects fees in ETH rather than token redistributions. This ETH is then used to purchase external tokens that are distributed to holders.
How It Works:
Supported Reflection Tokens:
Claiming Process: Reflections accumulate based on your RITUAL holdings and can be claimed once every 24 hours. Your share of reflections is determined by your percentage of the total circulating supply.
Advantages Over Traditional Reflections: By collecting fees in ETH and converting to external tokens, holders receive actual valuable tokens rather than just more of the same token. This creates a sustainable reward system that isn't dependent on continuous buying of the base token.
ETH Accumulation: Transaction fees are collected in ETH with each buy/sell, but not immediately converted to reflection tokens.
Batch Conversions: The contract owner periodically calls the buyReflectionTokens() function, which:
Benefits: This batch approach is much more gas-efficient than performing Uniswap swaps after each transaction, which would result in prohibitively high gas costs.
Governance: Future plans include governance rights for RITUAL holders, allowing them to vote on which new reflection tokens to add.
Staking: We plan to implement staking mechanisms to enhance the reflection rewards for long-term holders.
Ecosystem Expansion: As THE CULTS CULT grows, we'll expand the ecosystem with additional utility for the RITUAL token.