Introducing Magnifico Chef
Frictionless Yield and Deflationary Concept. Hold and Earn.
Magnifico Chef is BEP20 token that generates yield by applying a tax of 5% on every transaction and splitting that instantly among holders
MagnificoChef is deflationary as well, there is a 5% tax on every transaction which is burnt from the supply forever.
concept of DeFI yield generation.
At its core, MCH charges a 5% transaction fee and re-distributes that fee to existing MCH holders instantly and automatically at the time of each transaction.
Unique features of the MCH smart contract allow certain addresses like the PancakeSwap and exchange wallets to be blocked from earning fees.
Because of this, 100% of the fees generated go to holders of the token. The percentage of fees you earn is calculated by the percentage of MCH that you own among holders. This generates a much higher yield than would otherwise be possible.
The Problem
The overwhelming majority of DeFi projects require trust in a central party and interaction with a complex, buggy, and easily hacked contracts.
Rewards for interacting with these contracts often come from the minting of new tokens, necessitating confusing (and usually centralized) economic mechanisms that attempt to give the underlying reward token some value.
Developers who design and implement these economic reward mechanisms typically have no expertise in economics.
This places an enormous amount of risk on individuals that choose to interact with DeFi smart contracts. For simplicity, let's break down some of the different kinds of risk accepted by your average DeFi participant:
Trust-related risk: Individuals or teams behind a project performing actions that negatively affect the token holder (rug pulls, large token unlocks and dumps, etc..)
Security risk: Vulnerabilities in smart contracts or interfaces that the token holder interacts with.
Economic Design risk: Tokenomics that are poorly designed and unsustainable.
The Solution
MCH is uniquely designed to address these problems and reduce the aforementioned risks. Let's look at how MCH reduces each of the risks mentioned in the previous section:
Security risk: Because fee generation AND distribution are baked into the core smart contract, the security risk is greatly reduced. No external contracts or interfaces need to be interacted with in any way.
Simple Tokenomics: MCH is designed to adopt simple token economics whereby 98% of the total supply is allocated for presale and pancakeSwap listing while less than 2% of the total supply is allocated for marketing and Development
There is no interface needed to claim the fees. No action needs to be taken on the part of the holder other than to hold MCH in a wallet they control. With MCH, there are no vaults that could be hacked and drained or treasury funds that could be mismanaged.
Economic Design risk: MCH has a cap of 1M. The yield comes from transfer fees instead of newly minted tokens. As you earn fees, the percentage of the total supply you own is increasing.
The Elephant in the Room — Opportunity Cost
MCH fees are awarded automatically and do not require any transaction to be executed by the holder in order to earn fees.
Website: https://magnifico-chef-git-main-chefmagnifico.vercel.app/
Twitter: https://twitter.com/MagnificoChef
Telegram: https://t.me/ChefMagnifico
Github: https://github.com/ChefMagnifico
