Everything you need to know about BODA V2!
We are super excited to announce that BODA Version 2 is about to be released!
It has been quite the journey to get where we are today. We’ve had our ups and downs since launching BODA almost 5 months ago, but we have always continued to work behind the scenes to provide the best for our loyal #BODAFAM community.
As many of you may know, the original BODA token smart contract was ownership-renounced on launch. Meaning that the smart contract was locked forever. This proved to be a difficult challenge for our team to come up with ways to develop & build on the plans that we had laid out from the onset of the token project.
After months of trying to figure out ways to develop a locked smart contract, it was decided that it was best for everyone if we create a new smart contract token that we can actually build with. A brand new smart contract that will not be locked, so we can deliver on the promises that we made in April.
As an added benefit, we decided to remove the 3% reflection redistribution reward system and replace it with an impressive 19% BUSD dividend reward system!
Now, I’m sure you are wondering about the new token and why it is better than the original? Lucky for you, we’ve got the answers!
Below are a few important key points you need to know about BODA V2.
What are dividends and how does it work?
“A dividend is the distribution of some of a company’s earnings to a class of its shareholders, as determined by the company’s board of directors. Common shareholders of dividend-paying companies are typically eligible as long as they own the stock before the ex-dividend date.” (Source: https://www.investopedia.com/terms/d/dividend.asp)
In terms of crypto-dividends, they are not always determined by company profits or earnings due to most cryptocurrencies being decentralized and not owned by a corporate entity. This means that crypto-dividends are often determined by the fees associated with buy and sell orders. Crypto-dividends can be manually claimed or automatically distributed. We have chosen to use the automatic option so you get your dividend payouts every time a trade occurs on the market.
Auto-Dividends function by taking a certain percentage fee from buy and sell orders and return it to existing token holders in the form of dividend rewards. In the case of BODAV2, we have chosen BUSD token as the dividend reward token. You will need to hold a minimum of 3 Billion (3,000,000,000) BODAV2 to qualify for dividend earning. We had to put this minimum limit in place to prevent any potential exploits of the system. For example; someone was to buy 1 BODAV2 per wallet and fill up multiple wallets that would create problems with dividends.
The minimum token holding amount of 3 Billion BODAV2 can be adjusted in the future if our market cap were to significantly increase to a point where 3 Billion BODAV2 was too expensive for an average investor to purchase.
For example; if 3 Billion BODAV2 today is $5 and then became $500 in the future, we would have to adjust the minimum holding requirement to allow new investors to buy in and still get to earn dividends.
We believe that choosing BUSD as a dividend reward is beneficial for long term investing, especially during a bear market where a token price can drop significantly in price. BUSD is a stable coin and it is always pegged at 1:1 to the US Dollar. This will provide everyone with the comfort of knowing that your BUSD earnings will not shift in price in the event of a market crash or a prolonged bear market.
How will I know how many BUSD dividends I earned?
We will launch a second website dedicated to tracking your dividend earnings. You will be able to paste your wallet address into the website dApp and it will provide you with dividend earning data.
You can also see the BUSD arrive in your wallet. If you do not have BUSD displayed in your wallet menu, you will need to add it as a custom token.
The BUSD Contract Address is —
What will be the Token distribution?
Total Supply will remain the same at 1 Quadrillion (1,000,000,000,000,000).
We took note of the burned token amount when the swap deadline ended, which was 30% of BODA in the burn wallet. We will transfer 30% of the total supply straight to the burn wallet on launch.
We have approx. 21% of the supply allocated for the BODAV1 swap.
We only received about half the amount of tokens from all holders during the swap period. We have no way of contacting every token holder as we are on a decentralized network. We did post every single day across all social media platforms and in our telegram and discord channels to get the message out.
Starting liquidity will be 40% of the total supply.
We plan to have a Yield Farm for everyone to earn more BODAV2, so we need to put aside 5% of the total supply as initial Yield Farm Reserve Funds.
In order to pay for Marketing to help promote BODAV2 to new investors, we have set aside 2% of the total supply.
For future development costs, such as paying devs and artists to build an NFT platform, we have put aside 2% of the total supply.
What will be the Tokenomics of BODAV2?
The following tokenomics have been designed to be as fair as possible to ensure that BODAV2 will continue to grow and reward its token holders in the long term.
12% Buy Fees
6% into BUSD dividends.
3% toward marketing funds to help pay for promotions.
2% returns into Locked LP (Liquduity Pool).
1% toward Yield Farm Funds to keep the system running long term.
20% Sell Fees
13% into BUSD Dividends, a higher reward for diamond hand investors.
3% toward the future development fund.
2% returns into Locked LP.
2% toward Yield Farm Funds to keep the system running long term.
What else is planned to help keep the token economy strong?
We will be earning BUSD Dividends in our Yield Farm Fund Wallets and Future Development Wallets, which we will spend on quarterly buy-back purchases and then burn the tokens.
This means that every 3 months, we will buy BODAV2 with the BUSD we earned and then send those tokens straight to the Burn Wallet.
This will reduce overall supply, making the token more valuable, and it will promote positive price action. And the best part is, everyone will receive BUSD dividends when we buy back BODAV2! Think of it as a small gift from us every 3 months for being a HODLER.
In addition to the quarterly buy-backs, we are keeping the anti-whale buy limit from the original BODA contract. Buy orders are limited to 10 Trillion tokens (1% of total supply) per order. This helps to prevent people from trying to buy up huge amounts of tokens, reducing the number of whales. Having too many whales in a token economy increases the potential risk that the whale could try to dump their entire holdings, which would create a massive price drop.
As an added safety measure to protect BODAV2 from massive dumps or even a rug pull attempt, we have introduced a sell limit of 1 Trillion tokens per order. This limit can be adjusted in the future when we have reached a comfortable price floor. However, for the initial launch period, we believe it is best to keep this function active because there are often trading bots (otherwise known as sniping bots) that automatically detect and purchase newly launched tokens. These trading bots are programmed to buy and then sell when the market cap hits a certain point, usually at 2x profit or higher. The sell limiter will help to protect all of us from activities that would harm our long term investments.
When will I get the new BODAV2 from the BODAV1 swap?
You will receive your new BODAV2 tokens on the day of the launch.
As a Thank You gift for patiently waiting for the new launch, we are going to provide a bonus 5% return for your swap. This means if you sent 100 BODA tokens, you will receive 105 BODAV2 tokens back.
Will the name of the token change?
No. The token will still be named BODA, only the trading symbol will be named BODAV2 so people do not mistakenly buy the old BODA.
What is the smart contract address?
The new token smart contract address will be released when BODAV2 is live and ready for trading.
BODAV2 Fair Launch will go live on Pancakeswap on Tue 14th Sep @ 12:59 UTC / 1:59PM UK / 10:59PM AUS EST / 8:59PM ASIA / 8:59AM USA EST
It’s time to take BODA to another Galaxy!
P.s. We would like to truly thank our amazing BODA Community who have trusted us and waited so patiently for the new launch. We know that we would not have the opportunity to manage and build a new cryptocurrency token without you here to support us. Thank you!
- From everyone on the BODA team