MoonTrust Token Hardfork Announcement
MoonTrust MNTT Contract 0x390037d710c86f88f05174599425b77c72eda305 will undergo a hardfork approximately at Dec 1st 2021. Liquidity from MNTT:BNB V2 Pancake will be moved to support the new token contract.
Original (current) MNTT is still trade-able in Pancake V1 until April 2 2022. After that the liquidity in V1 will also be converted to the new token.
Summary of changes
- Remove MNTT distribution (tax offset) pool tax
- Add burn mechanism per trade (25% of tax)
- Add staking mechanism (25% of tax)
- Decrease tax amount for higher level of transaction
- Burn entire MoonTrust Team Wallet (25% of supply)
See full details and reason below
Reason for Fork?
Due to popular demand for staking functionality, we will be adding this to our new token contract. We cannot implement staking with existing contract due to the way we setup a contract pool to offset the tax.
The current pool exists within 0x390037d710c86f88f05174599425b77c72eda305 address and acts as a direct bonus % to all wallet’s current holding. At 5% means a 100m with 10% tax, holders will receive 95m tokens instead of 90. However a 1m transactions will offset the purchase tax, but decrease the contract pool (5% tax. 2.5% went back to the pool, 2.5% went to MoonTrust Tax wallet). This means holders see a slight variation of their tokens of less than 0.1%.
A holder with 100m token can see their tokens range from 99,990,000 to 100,100,000 tokens. Although the number is small, but most of our existing don’t read the whitepaper, so instead we have a lot of questions/concerns over this feature. We are opting to remove this entirely to prevent future issues.
Changes in New Token
We will be decreasing the tax bracket to the following:
The new tax structure will be
- 50% tax to MoonTrust Tax Wallet (unchanged)
- 25% tax to be automatically burned
- 25% tax to be send to staking pool for staking reward
There will be another smart contract where holders can stake their new mntt to earn more tokens.
The amount earned will be directly proportional is to the tax earned. The distribution of staking reward is based on your % in the staked pool and amount of mntt gained from tax.
Token Contract Upgrade Details
Total supply of new mntt token will be 694,200,000,000
The decrease of supply is from burning MoonTrust Team Wallet’s supply. Originally we planned for the 25% to help with voting, but we think it is better to burn our stake so the community has full voting power.
Holders are able to exchange their current MoonTrust Token for the new one at a 1:1 ratio. Note: this is one way. You cannot exchange New MNTT for OLD MNTT.