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[exchange-rates_badge amount="1" base_currency="ETH" flag_type="none" decimals="2" id="1690700525" currency_list="USD"]

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whalescandypls.com

WhalesCandyPLS.com

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We typically categorize websites as potentially fraudulent for several reasons:

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  • You may lack a well-crafted project whitepaper, or the existing one may be of poor quality.

Their official site text

Whitepaper

This page will contain information about the whales candy white paper.

Introduction

WhalesCandy is a PRC20 token on Pulsechain and is inspired by hex, wise token, strong block, and drip network. The whales candy team has studied the tokenomics of each of these tokens and combines the best aspects of each individual token into one PRC20 token. The goal of the whales candy team is to create a project on pulsechain that has sustainability and tokenomics that can lead to the increase of value of the whales candy digital asset. What makes whales candy unique & different from its competitors is our tokenomics, which we will list down below.

Auction Lobby

The auction lobby is a feature that was inspired by hex and wise token. The auction lobby is a feature of the whales candy token that allows users to obtain wc tokens at better rates compared to the open market value. This incentivizes users to participate in the auction lobby frequently and in return increases the over liquidity and value of the wc tokens over time. To prevent too much inflation and to reward those with delayed gratification, each auction lobby entry is immediately staked and is subjected to the staking rules (please read the staking details down below). To learn more about how the auction lobby works, please read this section of our doc:

Staking Details

WhalesCandy is one of the only tokens in DeFi that is successfully able to combine inflationary & deflationary tokenomics. When a user creates a stake the initial token amount is essentially removed from circulation (in other terms burned). The user will begin to receive 1% a day for 200 days on the initial token deposited. In 100 days you would have received 100% or your initial token deposit and once you receive your initial token deposit the rest could be viewed as a bonus. The idea behind this staking model is to lock up as much of the token supply as possible and attempt to raise the value of the tokens through creating scarcity of the circulating supply. In theory, if the value of the tokens appreciate over time, you may ROI in PLS value before the 100 days is up.

Maintenance Fees

There is a 2 USDC fee that is charged to users for every stake they have. This fee is charged every week and accumulates as well. For example, when you begin a stake and try to claim your daily dividends, the contract will initially ask you for 2 USDC for your first claim. If you pay the fee upon claiming you will be able to claim for 0 USDC until a new week arrives. If you do not claim and a new week arrives your fee will be 4 USDC. A user cannot claim until the fee is paid. The USDC is not paid to the developers, but instead used to buy back and burn whales candy tokens from the PulseX dex. These buy back and burns will have a positive impact on the tokens value. This function of the smart contract ensures that there is no inflation in the system without value being added back and the amount of usdc that the contract collects can be visible on the main whales candy website. The buy back and burn function can be triggered by anyone and any time.

Daily LP Buyback and Burn

On top of the maintenance fees increasing the value of the whales candy tokens, there is a daily buy back and burn that directly has a positive impact on the value of the wc tokens. The whales candy token smart contract controls the entire liquidity pool of the whales candy token. There is no function to retrieve the lp tokens, which means the token smart contract essentially serves as a liquidity locker. The token smart contract has a function that allows it to burn portions of the liquidity and create a buy back order. The way it works is like this, the dev team sets a buy back and burn percentage and this percentage will typically range from 1% to 10%. After the dev team tells the contract how much to buy back and burn, at the end of each auction lobby day the contract will remove some whales candy tokens and some pulsechain coins from the liquidity it holds. It will then burn the whales candy tokens > use the pulsechain coins to create a new buy order (which will increase the value of the coins) > and burn the whales candy tokens it bought with the pls. If the liquidity held a $1,00,000 and the buy back percentage was set to 4%, the contract would remove $40,000 worth of wc and $40,000 worth of pls. It would burn the $40,000 worth of wc > use $40,000 worth of pls to create a buy order > and then burn the wc tokens it just gained from the buy order. This happens daily and has a direct positive impact on the value of the tokens.

Referral System

The whales candy smart contract has a referral system that incentivizes users to spread the word about our project. The referral reward is 5% of the total amount of token that is being claimed from the auction lobby. When an auction day ends the contract will ask a user to enter a referral code. You can enter the referral code of your friend, family, or favorite content creator. The person who is receiving the referral reward must wait until the next auction lobby day to claim the referral reward For example, if a user receives a referral reward from day 10, they must wait until day 11 to claim the reward. Users can claim the referral reward by clicking the "Check Referral Earnings" on the website. Once the referral reward is claimed it will create a stake that is not subjected to the weekly maintenance fees, as the referral reward itself most likely wont be big enough to warrant it.

No Middlemen 100% Smart Contract Operated

We echo the values of hex, specifically the notion of having no middle men in the ecosystem. The whales candy platform runs 100% on smart contracts and publicly callable functions. This means that even if the dev team went missing or even die the platform would still be operating. There are some functions in the smart contract that can only be called by the dev team, but these functions are not functions that could negatively impact the project. These functions include starting the auction lobby and pausing the auction lobby. If made as a public function anyone could pause or start the auction lobby (which would mess up the system). The dev team cannot blacklist wallets, mint infinite amounts of tokens, remove liquidity, take away your tokens, are perform any high risk actions. When you begin mining whales candy tokens you will get the rewards the contract is programmed to give you and no one can stop this.

Buy & Sell Tax

There is no sell tax on the wc token. This means you can collect dividends at any time and sell with no taxes. WC tokens can be sold directly on PulseX. There is a 15% buy tax on PulseX and the reason why this tax exist is to prevent bots from draining liquidity, to incentivize users to either enter the auction lobby or buy through the discounted buy and stake function. Both methods of acquiring tokens have no taxation, but will lead to the tokens that are purchased being immediately st

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