Whitepaper SafeRocket Protocol V1
SafeRocket (SAFEROCKET) is the next-generation automatic liquidity protocol, static farming token and blockchain lottery system.
SafeRocket improves upon the weaknesses of similar projects by removing malicious code, remediating all existing issues and providing a new use-case. A unique combination of automatic liquidity generation, static rewards and blockchain lottery with large payouts provides the solid hull of the spaceship that will take us all into cosmic discovery.
The SafeRocket protocol starts with a fair launch and massive airdrop distribution to over 250,000 recipients. Initial liquidity is locked for a one-year period and 45 % of the supply is immediately removed to act as a "black hole" that continuously burns tokens.
The token economy model of the protocol is assembled from a 7.5 % transaction fee and a set maximum supply of 1,000,000,000,000,000 SAFEROCKET. The transaction fee is split into the following segments:
- 2.5 % - Automatically redistributed to token holders
- 2.5 % - Added into permanently locked liquidity on PancakeSwap
- 2.5 % - Deposited into the unique lottery draw mechanism
To achieve this, the tokens gathered by the transaction fee are deposited into the token contract, which when a certain token amount limit is reached, executes a partial sell order on PancakeSwap immediately to convert a percentage of the tokens into BNB. Read more below to see how each of the token mechanisms functions and what does it mean for the token economy.
The token distribution will look as following after the initial period:
- 45.0 % - Burn address (not in circulation)
- 6.5 % - Initial liquidity on PancakeSwap
- 5.0 % - Marketing and operations fund (not in circulation)
- The rest of the tokens will be mass-distributed via the airdrop to create a fair launch
Static token holders rewards
Instead of forcing token holders to join staking pools to earn passive income, SafeRocket allows it's loyal members to earn very simply - you just need to hold SAFEROCKET tokens in your wallet and watch your portfolio grow indefinitely! A part of the transaction fee is redistributed back to all token holders, so for as long as you hold tokens and there is market activity, you will continue to earn.
With SafeRocket, you can earn passive income by simply holding your tokens in your favorite decentralized wallet and watching your portfolio grow indefinitely without joining any kind of staking pool.
This mechanism automatically rewards long-term token holders, which has a positive economy impact. We've also seen that this token model works wonders when analyzing existing protocols in the ecosystem.
Automatic liquidity protocol
The second piece of the puzzle that builds the SafeRocket project is the automatic liquidity generation system. Approximately 2.5 % from the total transaction fee is added into liquidity on PancakeSwap completely automatically and is pre-defined behaviour in the token contract.
As adoption grows and trading volume rises, more and more liquidity will be generated by the protocol and added into the SAFEROCKET/BNB liquidity pool on PancakeSwap, which creates a price floor for the token.
95 % of the LP tokens created when adding liquidity are locked permanently by the protocol itself. No manual intervention is needed, and liquidity will exist for as long as the blockchain itself exists. This lowers the price impact when making purchases & sells on the decentralized exchange and builds trust for newcomers who can be certain that market activity is ensured indefinitely.
Decentralized blockchain lottery
The third and final piece of the puzzle which is unique to the SafeRocket ecosystem is the short-interval lottery draw which rewards players with BNB payouts generated by the protocol itself. Approximately 2.5 % of the transaction fee is automatically contributed to the lottery prize pool.
Players can enter the lottery draw by submitting 4-number combinations with tickets bought with SAFEROCKET tokens, which are permanently burned. The lottery functions completely decentralized without any admin control and rewards participants with payouts based on how many numbers they guessed correctly.
The draw takes place either every set time interval or when the maximum number of entries for each round is reached. Any user can run the so-called "draw" function which produces a provably fair and random lottery combination for the round.
Based on the number of "hits" a user has when the randomly-generated winning combination is compared with the submitted combination and the amount of participants in the lottery, a payout amount is credit to the user which he can then claim from the lottery page.
Fair launch and token burn
The protocol is launched fairly, with initial liquidity deposited by the team itself and a massive airdrop which will distribute a large chunk of the total supply to over 250,000 recipients on the Binance Smart Chain.
The initial liquidity generated when creating the liquidity pool will be locked for a 1-year period using a timelock smart contract.
Additionally, 45 % of the total supply will be immediately sent to a so-called "black-hole" address on the blockchain (the burn address) effectively locking the transferred tokens indefinitely. This address will continuously gather rewards produced by the protocol and ensure a deflationary and healthy economy.