APx Token | Theta's First Deflationary Rewarding TNT-20!

ASCII Logo

Theta's First Deflationary Rewarding Token Burning and Earning!

Earn. When you hold APex tokens, you also earn monthly rewards for holding. Every transaction that is sent, a small fee is taken out. These tokens are then sent to a wallet which, at the end of the month, is distrubted out to the token holders. The more tokens you hold the more you receive every month. First of it's kind on the Theta Network.

Burn.

APex token is the first of it's kind to create a deflationary system. For every transaction, a small fee is taken out. These tokens are then destroyed or 'burned'. This creates a system where instead of a currency losing its value, this token gains value.

Inspiration

This project and token was inspired by the inflation that we see with fiat currencies. We hate to play the politics game, however we've seen that cryptocurrencies are extremely powerful. Many people are upset to see their hard earned savings or assets lose their value because of reckless spending and printing of currencies. Because of this we imagined a token that would be de-inflationary in nature.

What it does

The concept is simple, with each transaction over a ThetaSwap pair a small tax is taken out. These tokens are either burned on the spot or sent to a wallet to later be distributed to holders. This creates last tokens over time and more demand for the tokens.

How we built it

The basic smart contract was coded with Solidity. Past that however much of the testing was done with the Truffle suite, remix and a lot of Javascript.

Challenges we ran into

Tokenomics are always a huge issue. It's easy to make things work in a single transaction but once it's out in the world with many transactions it becomes much more difficult. In addition some of the various pair and router contracts function slightly differently so making sure it was compatible was a challenge as well. Finally, security is always huge. Tokens have real world value so making sure the contract couldn’t be hacked or tokens stolen was a concern for us as well.

Accomplishments that we're proud of

Bringing unique functionality to the token and to Theta is a huge accomplishment. Many tokens are simply the same so having something that brings value not just for the the meme aspect but has technical value is something we're proud of as well.

What we learned

We learned a lot about contract interaction with other contracts, specifically interacting with the swapping routers, pairs and interfaces.

What's next for APex Token | Theta's First Deflationary Rewarding TNT-20!

We want to push the boundaries further for what's possible with TNT-20 tokens. We have a lot more instore but requires a lot of testing and development.