VOTE TOKEN
Last updated
Last updated
The VOTE token is the core asset within the DeFi Choice platform, designed to support governance participation and decentralized decision-making. Users can vote in polls using VOTE tokens or other supported tokens, ensuring an open and flexible voting process. The token follows a dynamic pricing and deflationary mechanism, promoting fairness and transparency.
Token Name: VOTE
Symbol: VOTE
Blockchain: Base (Ethereum L2)
Initial Supply: 0 VOTE (Tokens are minted dynamically based on demand)
Usage:
Voting: Users can participate in polls using VOTE tokens or other supported tokens.
Burn & Dynamic Price Adjustment: When tokens are burned, a portion of the burn fee remains in the contract, increasing the burn price for future users who hold their tokens longer.
Minting System: Tokens are minted dynamically when users purchase them with ETH.
1. Dynamic Pricing Model
Each minted VOTE token increases in price based on a pre-set formula.
The cost of minting additional tokens follows an arithmetic progression:
This ensures that early adopters benefit from lower prices, while later buyers pay progressively more for VOTE.
2. Controlled Burn Mechanism & Price Pumping Effect
When users burn VOTE tokens, most of the burn fee remains in the contract, increasing the burn price for future users who hold their tokens longer.
This mechanism creates a self-sustaining price floor, preventing extreme price drops.
Instead of full destruction, this ensures the contract retains value while maintaining the scarcity of VOTE over time.
3. Minting Process
Tokens are not pre-mined. Instead, users mint VOTE by sending ETH to the contract.
The price of minting increases as more tokens are created, discouraging unlimited supply inflation.
4. ETH-Backed Value
The contract collects ETH when users mint tokens.
When burning tokens, users receive ETH based on the contract balance and current token supply.
This creates an organic value mechanism for the token.
5. Dynamic Burn Fee & 7-Day Penalty Reduction
Users who burn tokens immediately after minting incur a penalty fee, encouraging long-term holding.
The burn fee remains in effect for the first 7 days after minting and then drops to 0 after this period.
A portion of this fee is allocated to the DeFi Choice platform development to ensure long-term sustainability.
✅ Flexible Voting – Users can vote with VOTE or other supported tokens. ✅ Sustainable Price Growth – Most of the burn fee remains in the contract, increasing the burn price for long-term holders. ✅ Deflationary Supply – While not all tokens are burned, the supply remains controlled through the burn fee mechanism. ✅ Dynamic Pricing – A mathematical model prevents inflation by making later tokens more expensive to mint. ✅ ETH-Backed Value – Users can burn tokens to retrieve ETH, providing inherent value. ✅ Sustainable Development – A portion of burned tokens is allocated to platform improvements. ✅ Community-Driven – Users can create and manage polls, shaping the DeFi ecosystem.
The VOTE token is a key element of the DeFi Choice platform, ensuring fair participation, sustainable tokenomics, and transparency in decentralized governance. The unique burn fee and price-pumping mechanism creates a self-sustaining ecosystem where long-term participation is rewarded.
🔹 Your vote. Your choice. Your impact.
