Buy & Burn Details
Last updated
Last updated
62% of the ETH that gets used to for TITAN X gets sent to the TITAN X Buy & Burn smart contract.
This contract can be used by any builder on top of TITANX.
The TITAN X Buy & Burn smart contract can receive ETH or WETH.
if it receives ETH, it will automatically wrap it to WETH for you and it becomes available for users to call the BuyAndBurn function on.
if it receives WETH, it doesn't need to wrap it and can be used to buy and burn instantly.
So, if you're a project building on top of TITANX and want to implement a buy and burn that buys TITANX off of the market and burns it, you can send a portion of the ETH protocol fee to our buy & burn contract and it will take care of everything else.
No need to build your own buy & burn smart contract.
Notes on user incentives:
Users get 0.33% of the ETH in "Distribute ETH" as an incentive for calling the smart contract function to distribute the ETH between payouts, buy and burn and burn pool.
Same 0.33% incentive reward applies to calling the buy & burn function that will buy TITANX off of the market through the uniswap v3 WETH/TITANX pair and burn whatever amount of TITANX it just bought.
Both can be done inside of the TitanX dApp.