A multi-chain ecosystem
The LitBit Token is the native currency of the LitBit multi-chain ecosystem and serves as the primary means of exchange within the platform. The token is designed to be used for a variety of purposes, including participating in the incubation and launchpad programs, accessing premium features and resources, and participating in governance decisions.
The LitBit Token has a variable tax rate that can be adjusted. The maximum tax rate is 12%, while the minimum is 0%. This allows control of the inflation rate of the token and ensures its value is aligned with the needs of the ecosystem.
The LitBit Token has a blacklist function that allows the owners to freeze the tokens of specific addresses. This can be used to prevent fraud or malicious activity within the ecosystem.
The LitBit Token also has a whitelist function that allows the owners to unfreeze the tokens of specific addresses. This can be used to restore access to tokens that were frozen due to a mistake or misunderstanding.
The LitBit Token has a feature that allows the option to enable or disable trading on the token. This can be used to protect the token's value during times of extreme volatility or to allow the token to be traded freely.
When the LitBit Token is purchased, a buy tax of 10% is applied at launch. Of this tax, 50% goes to the liquidity pool (LP), 30% goes to marketing and development, and 20% goes to the team. This helps to fund the ongoing growth and development of the LitBit ecosystem.
When the LitBit Token is sold, a sell tax of 12% is applied at launch. Of this tax, 60% goes to the liquidity pool, 20% goes to marketing and development, and 20% goes to the team. This helps to fund the ongoing growth and development of the LitBit ecosystem.
The LitBit Token has a sweep function that allows users to move all of their tokens to a new address in a single transaction. This can be useful for security purposes or for consolidating multiple addresses.
As part of Litbit's anti-whale system, a wallet can only hold a max supply of 1%. This will help mitigate the use of large wallets controlling the value of the token and providing fair access to all investors.
Overall, the LitBit Token is a key component of the LitBit ecosystem and serves as a flexible and powerful tool for supporting the growth and success of innovative projects in the cryptocurrency and blockchain space.