TAX Token

Overview of the TAX token; Tax Heaven’s Native Token

Staking

“TAX” is Tax Heaven’s native token.

The 0.5% fee that is charged when using the Tax Heaven protocol is distributed to people staking the TAX token.

The TAX token is distributed to depositors of “whitelisted tokens”.

The amount of TAX tokens that the depositors receive is based on the value of the token that is being deposited to the protocol.

The value of the token being deposited to the protocol will be determined using Chanlink rates at the time the assets are deposited.

Governance

Tokens to be added to (removed from) the whitelist and the oracle to be used to price the tokens will be determined by TAX token holders.

TAX token holders will also determine what the Incentive Fund (LP Reward) should be used for.

Incentive Fund

10% of the newly generated TAX tokens will be pooled as an Incentive Fund.

These funds will be used to incentivize the adoption and usage of the Tax Heaven protocol and the TAX token.

Initially, 50% of the tokens allocated to the Incentive Fund (i.e. 5% of the newly generated TAX tokens) will be distributed to users providing liquidity on Uniswap for the TAX/ETH trading pair (the users will need to stake their LP tokens to receive the reward).

In the future, funds allocated to the Incentive Fund can be directed to other means through the Governance mechanism mentioned above.

The remaining 50% of the tokens allocated to the Incentive Fund will be set aside as a reserve to be used to sustain the protocol for the long term. The intended use cases of the reserve include the following; additional liquidity mining rewards, grants to partners, and future upgrades to the protocol including audits.

Token Supply

No premine. No presale. No ICO. Fair distribution.

The TAX token has no premine and can only be mined by depositing whitelisted assets to the Tax Heaven protocol.

The supply of the TAX token starts at 0 (zero) and will increase only by “Liquidity Mining”.
5% of the newly generated tokens will go to the gatekeepers (i.e. backoffice) of Tax Heaven.
Another 10% of the newly generated tokens will go to the Incentive Fund.

TAX Token Issuance Schedule

Cumulative deposited value Token issuance in this bracket Cumulative circulating supply Issuance rate (per one dollar deposited to Tax Heaven)
$200,000,000 200,000,000 200,000,000 1.000000000
$400,000,000 100,000,000 300,000,000 0.500000000
$800,000,000 100,000,000 400,000,000 0.250000000
$1,600,000,000 100,000,000 500,000,000 0.125000000
$3,200,000,000 100,000,000 600,000,000 0.062500000
$6,400,000,000 100,000,000 700,000,000 0.031250000
$12,800,000,000 100,000,000 800,000,000 0.015625000
$25,600,000,000 100,000,000 900,000,000 0.007812500
$51,200,000,000 100,000,000 1,000,000,000 0.003906250

Whitelisted Tokens

  • ETH
  • WBTC
  • BAT
  • COMP
  • KNC
  • LINK
  • LRC
  • REN
  • SNX
  • UNI
  • YFI
  • ZRX
© 2021 TAX HEAVEN