The Charitas Protocol is built to encourage holders to hold for value appreciation and to support the development and access to the Charitas application. It accomplishes this through its four main functions: Earned Interest in the form of Static Rewards, Charity, Liquidity Pool Provisioning, and Token Burns. The total transaction tax is 5%, as broken down in the following sections. Charitas also encourages holding and garnering investments by locking the dev team tokens to incentivize growth through milestones.
Static Rewards
Holders of Charitas Tokens (CHAR) automatically earn tokens by holding. Every movement of tokens from one wallet to another, one percent of the transactional amount is taxed and distributed to every Charitas holder. These rewards earned, or Static Reward, is directly deposited in the holders’ wallets, without any setup or additional process involved. This allows holders to earn interest off of their holdings, a feature not offered by many alternative cryptocurrencies. Higher transaction volume increases the yield of static rewards. Regular interest deposits or ‘static rewards’ accumulate and compound allowing for high potential APR.
Charity Fund and Governance
1% of each token transaction is allocated to a separate fund and regularly distributed to Charity. With the application in development, Charitas’ holders will be able to vote on where funds will be allocated and to which charities donations will be made. This democratic process encourages a safeguard against corruption. By allowing holders to vote, the protocol enables the community to spread the distribution of donations to a varied selection of charities agreed upon by the Charitas community. By spreading the vote, the chances of donating to best practice charities is increased. Together, the community ensures that the charities voted on are transparent and effective in their cause.
To put things in perspective, the 100th largest coin in terms of market cap, sees over $100,000,000 in transaction volume per day. At that level of volume, Charitas will be raising over $1 million every day. This enables Charitas to offer real world purpose and tangible value, giving the Charitas ecosystem a solid foundation which holders can have confidence in holding for the long run.
Charitas holders will be able to vote using the decentralized governance application. This enables the community to decide on where and how donations will be allocated. Other Charitas Foundation decisions will be decided through this process as Charitas strives to become a community-owned protocol.
To accelerate the growth of the Charitas Protocol while at the same time being true to its purpose of donating to charities. Before the launch of the voting feature: Charitable donations will be made strategically, in agreement with the community, as a way to garner awareness of Charitas. This will come in the form of charity events and partnerships for press, media and other marketing opportunities with influencers, publishers, and journalists.
Security
1. Charitas is committed to the transparency and security of the protocol in its development.
3. DxSale network administers sale and locks initial 73.75 BNB liquidity on PancakeSwap at a rate of 75% of 95 BNB raised.
4. Developer tokens locked with DxLocker after pre-sale. Developer tokens are locked for a predetermined time period and will be unlocked according to the time horizon and milestones set in our detailed Road Map. Future agreements made by the community may alter this Road Map.
6. Burned tokens will be sent to Burn Address and are irretrievable. 98,880,000 tokens were removed from the contract after pre-sale and left total supply at 905,120,000 tokens.
7. Smart Contract audited by TechRate.org. Results available here.
ROAD MAP
Q1 - 2021
Idea created by Founding members
Create Governance-Enabled Token
Charitas Branding & Logo design
Website development
Design & Viability Assessments for Voting App
Q2 - 2021
Token Listed on PancakeSwap after Secure Pre-Sale on DxSale
Recurring AMAs on YouTube Live with Partner Organizations
Team Page added to website
Partnerships & Week-long Fundraisers to Build Community Awareness Here
Team Expansion & Integration of Full-Time Developer & Marketing Aid
Merch Store Launch
NFT Artist Partnerships, Auctions & Donations
Establishment of Legal Entity
Hiring of Press Release & Marketing Campaign Manager
CEX Listing Applications
Q3 - 2021
App Beta Testing with Community Input
Large Charity Partnerships
Exchange Listings & Increased Liquidity
Tax Benefit Discovery Phase for North American Income Taxes
Enhanced Press Release & Marketing Campaign
NFT Marketplace Development (Charitas Creative) & Additional Partnerships with Artists
Live Fundraising Events
Creation of Charitas Foundation & Community-Owned Initiatives
Q4 - 2021
Full-Scale Governance App Launch & Growth of Charity Network & Partnerships. Charity Events & Large Exchange Listings Application Phase
Charity Launchpad Feasibility Evaluation
DAO Governance Implementation
Tokenomics
Token Burn
The portion of each buy and sell transaction that is allocated to charity is eventually traded from CHAR to BNB/USDT in order for charities to fund their initiatives. To offset this sell pressure, every transaction ends with burned tokens as seen in the burn wallet. This deflationary process incentivizes holding by directly reducing supply and increasing value per token, all variables held equal.
Developer Token Burn
Developer tokens are securely held and locked on DxLocker’s protocol. Tokens to be shared, burned or used for dApp and other growth initiatives.
Wallet unlocking dates are shown in the chart legend. Development team tokens will be locked and burned if growth targets are not met. Milestones are growth-based and ensure the success and longevity of the project. Developers will act in order to increase the protocol’s viability of success. Manual token burns will take place at the end of lock-out periods to remove accumulated supply, if milestones outlined in full whitepaper are not met, or if the project’s success requires so. Additional information regarding milestones and longevity of the project found in the “Safety and Longevity of the Protocol” section of our full whitepaper - coming after dApp launch.
Liquidity Pool Provisioning & Token Velocity
To reduce excessive volatility, Charitas’ protocol allows for a 3% fee (1% liquidity pool, 2% marketing and growth initiatives) to be added immediately to the liquidity pool. As the project matures, this 3% fee will be selectively employed to fund liquidity and charity.
Automated liquidity provisioning is a feature integrated to the Charitas protocol which creates a cushion, or a price floor, in order to manage volatility and price crashes. Similar to the static rewards and charity function, Charitas token contract automatically removes a percentage from each buy and sell transaction to inflate the liquidity pool (LP), thereby creating stability and reducing arbitrage opportunities. This lending pool provides borrowable tokens that ensures the smooth operation of this protocol. As Charitas’ transactional volume increases Charitas’ initial provisioning of 3% for liquidity is subject to change as decided by the community. As the token velocity* decreases, the total liquidity pool will be reviewed and contributions will be adjusted by following the formulas outlined in our full whitepaper.
In summary, Charitas slows token velocity through:
1. Static Rewards.
2. Locking up Dev Team Tokens and Liquidity generated at presale (75% BNB raised).
3. Burning tokens after every transaction and as holders swap their Charitas tokens for BNB (or other pairing in future).
4. Gamification through lotteries, rewarding holders and social media publicity.
5. Teaching charities to hold some of their Charitas for value appreciation.
Fair Launch on DxSale with developer tokens locked
Step 2
LP locked on DxLocker for 3 years
Step 3
LP generated with every trade and initial LP locked on PancakeSwap
Locked Developer Team Tokens
Examples of potential milestones are targets on market capitalization, total holders, funds raised for charity, etc. These milestones will be communicated transparently with the community once they are finalized.
Dev wallet unlock amounts and dates:
4487
Record Holders
$57,890 USD
Charity Raised
$869,056 USD
Market Cap
STATIC REWARDS
Charitas Protocol redistributes 1% of each buy and sell transaction back to holders. Watch as your Charitas token balance increases indefinitely!
CHARITY RAISED
1% of each transaction is distributed to charity organizations as decided by the community. These tokens will then be manually burned upon usage.
AUTOMATIC LP
Every trade contributes to an auto-generated liquidity pool which is locked in PancakeSwap. Initial LP created by locking BNB raised in pre-sale.
