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Tokenomics

New tokenomics introduced in $POTATO V2
A new and exciting way to view and use $POTATO are coming soon.
Initial Supply: 12,000,000 $POTATO
Maximum Supply: 50,000,000 $POTATO

Reward reduction

Rewards are reduced upon reaching total circulating supply milestones. Burning events & activities will be held before reaching each:
  • 20 million (85% rewards)
  • 25 million (70% rewards)
  • 30 million (55% rewards)
  • 35 million (40% rewards)
  • 40 million (25% rewards)
  • 45 million (10% rewards)
  • 50 million (no rewards)

Allocation & Distribution

Tokens will be allocated and distributed among 4 components:
  • Team - executives of Honest Farmer Club will receive 1% of the max supply whereas:
    • Initial 10% is locked for 3 months
    • Remaining 90% will be vested for 18 months
  • Investors - 3% will be distributed among VC's and angel investors who will invest on Honest Farmer Club whereas:
    • Initial 10% is locked for 3 months
    • Remaining 90% vested for 24 months at the rate of 3.75% per month
    • Not all money invested by VC's and angel investors goes to the token. A large portion goes directly as runway for the project to keep on building. That way, the team won't need to dump tokens to build and market the project. They're investments are put as equity.
  • Locked LP - 20% will be locked in liquidity and be paired with MATIC - Polygon's native coin. The team is targeting 100,000 $MATIC / 10,000,000 $POTATO pairing.
  • Ecosystem - a large portion of the supply, 76%, will be for the community and the ecosystem. These includes all kinds of rewards such as staking, play-and-earn, casino games, etc.

Taxes and Tax Wallet

Taxes accumulated in the tax wallet will be used for future events, burning, new location mechanics and upgrades to existing locations such as the Honest Raffle.
The following taxes are introduced inside the ecosystem:
  • 20% tax for claiming staking rewards for both Farmer and Farm Girl NFTs
  • 8% tax on claiming rewards for gambling games like Wheel of Fortune and Milking Contest
  • 30% tax on Honest Raffle prize pool
More tax mechanics and use-cases of the tax wallet will be introduced soon as we build more locations and events for the community