• The Magic Bag team is investing in security, vulnerabilities and user engagement.
• They have a unique tokenomics system with the $FELIX token at its core.
• This token has a smart contract that rewards users with True Burn, Smart LP, Ethereum reflections or Treasury.
The Unique Tokenomics of $FELIX
Magic Bag stands out with its unique approach to tokenomics and its commitment to creating a dynamic and rewarding ecosystem for its users. At its core, Magic Bag is powered by the $FELIX token, a hyper-deflationary ERC20 token with more than a few tricks up its sleeves. This unique token not only propels new dimensions of innovation in the DeFi sphere but also incorporates a genuine burn mechanism and distinctive ‘Smart’ Auto-LP function.
True Burn is a process where $FELIX tokens are permanently removed or “burned” from the total supply. This decreases the total supply of tokens which can potentially increase the value of the remaining tokens.
Smart Auto-LP Function
The Smart Auto-LP function consistently adds liquidity to compensate for the True Burn feature reducing the total supply of tokens. This dual function maintains a balance between scarcity and availability – a continually decreasing supply offset by steadily increasing liquidity pool size.
Ethereum Reflections is another core feature of Magic Bag that allows holders to earn Ethereum based on percentage of $FELIX they own, thereby encouraging long term holding. Whenever the contract triggers the “Reflect” function, token holders are assigned portion of those reflections based on extent of their holdings..
The features incorporated into this unique system create an effective cycle wherein every transaction results in reduced total supply being balanced out by increased liquidity pool size and Ethereum reflections reward holders for their loyalty..