What $REDOGE is all about
REDOGE is the first rebase meme token with price pegged to DOGE price.
REDOGE is pegged to 10 x DOGE price. For example, assume DOGE = $0.30, than REDOGE target price is $3.
The Oracle implements a 24 hour rebase frequency and will examine the peg price at exactly 1400 UTC.
At rebase time, if price of REDOGE is more than 5% above peg price, supply will increase and you will receive additional tokens. As opposite if the price of REDOGE is more than 5% below the peg price supply will decrease and it will be reflected in your token balance.
Negative rebase prevention
The price of REDOGE has to stay more than 5% below the peg price at rebase time for 2 consecutive days to trigger supply decrease.
Deflationary & Frictionless Yield
There is a tax mechanism for the REDOGE token transactions. If you are a seller, you must pay 5% tax:
- 2% is sent to BURN
- 3% is sent to the YIELD pool to be distributed directly to the REDOGE holders.
Liquidity Mining with Woofer
The Woofer is a lucrative rewards program offered by REDOGE, allowing to reap rewards through the process of liquidity mining. Liquidity Providers will be able to deposit LP tokens to the faucet, which will continuously pay out rewards in the REDOGE token, multiplying the rewards the longer the LP tokens are staked.