Marketing: PR, Advertising, Celebrity Endorsements & Partnerships
Future Development: NFTs, Games, Metaverse & R&D
Community Engagement: Giveaways, Events & Parties
Key Features of TipsyCoin
No Buy Tax. 10% Sell Tax when you sell $tipsy. This is how the proceeds will be distributed from the Sell Tax:
$tipsy Holders Enjoy Passive Rewards
Holding $tipsy in your wallet generates more $tipsy. These rewards come from tax proceeds collected during sale transactions. When any $tipsy holder sells $tipsy, they have to pay a 10% tax. This feature has been coded into the contract to foster a strong and tight bond among the community of $tipsy hodlers. Similarly, as there is no buy tax ($tipsy holders do not incur any taxes when buying $tipsy), we encourage the purchase of TipsyCoin. Humans should not buy too much TipsyCoin or they will get drunk.
For $tipsy holders to enjoy their rewards, no action is required. Simply leave your $tipsy in your wallet and watch your TipsyCoin portfolio grow indefinitely. We understand that the No Buy Tax and 10% Sell Tax is an innovative feature, as most coins either implement a tax on both buy and sell trades or they have no tax at all. The TipsyCoin mechanism is only possible with state of the art coding and in-depth testing. Our all penguin team designed this to discourage bots (who have no emotions and often manipulate prices), discourage speculative and short-term trades, to prevent dumping and to reward long-term $tipsy holders.
Unlike most other tokens which mint more of their own tokens to reward holders, the rewards that $tipsy holders enjoy come from the tax proceeds collected. So, no new $tipsy is created in the process. Not only is there a maximum amount of $tipsy, but the available supply of $tipsy will gradually decrease because of the buyback & burn mechanism.
Buyback & Burn Protocol: the TipsyVault
Through smart contracts, we have programmed a strategic buyback fund called the TipsyVault. From the 10% tax earned during each sell transaction, 4% out of the 10% of the $tipsy is sold for BNB, and this BNB then goes into the TipsyVault. The BNB from the TipsyVault is to be utilized to buyback $tipsy from the open market via the liquidity pool in PancakeSwap. The buybacks will occur at strategic times. The BNB in the TipsyVault cannot be sent to any external wallets – this has been coded in the smart contract and is another feature that protects $tipsy holders. As $tipsy is bought back using BNB from the TipsyVault, new BNBs will be added into the PancakeSwap liquidity pool and the $tipsy bought is immediately burnt. This creates a true burn because the total supply of TipsyCoin will gradually decrease. Real value is realized for the $tipsy sent to the burn wallet.
"The BNB in the TipsyVault cannot be sent to any external wallets – this has been coded in the smart contract and is another feature that protects $tipsy holders."
When is TipsyVault Activated?
TipsyVault is accumulating BNBs all the time. However, the buybacks happen strategically. The BNB reserves in the vault are deployed at specific moments to create stability during downward market trends or whale dumps. There is also an automated buyback feature that can be turned on or off (for example, we would leave this feature on during major market corrections). When the automated buyback feature is activated, it will initiate $tipsy buybacks (and burns) once the reserves in the vault reach “X” number of BNB (“X” is a figure that is synchronized according to market trends). When the auto buyback feature is turned off, the BNB reserves will continue accumulating in the vault and a manual buyback (and burn) can be executed when necessary.
TipsyCoin’s buyback & burn protocol involves extensive coding and is built to cushion against downward trends, chart manipulations or whale dumps.
Funds are Gnosis SAFU
TipsyCoin uses industry leading Gnosis Safe multi-sig vaults to protect $tipsy from compromised keys or bad actors. All transactions from the marketing, development, and other vaults must first be approved by the Penguin Board, and is never controlled by a single person. Indeed, all tipsy minted during our genesis is minted directed to vaults or contracts – not a single tipsy or LP token is minted to a personal account of an owner or admin. This is just one small part of TipsyCoin’s commitment to community, security, and transparency.
fyi: $gin is currently being developed, the technology will be elaborated soon.
This technical whitepaper examines some of the design decisions behind the TipsyCoin ($tipsy) contract and explores the features that we have in place for gas optimization, reflection (passive rewards) and reliability.