New tokenomics introduced in $POTATO V2

A new and exciting way to view and use $POTATO are coming soon.

Initial Supply: 16,000,000 $POTATO

Maximum Supply: 80,000,000 $POTATO

Allocation & Distribution

Tokens will be allocated and distributed among 3 components:

  • Team - executives of Honest Farmer Club will receive 5% of the max supply whereas:

    • Initial 10% is locked for 3 months. Unlocked on March 15, 2023.

    • Remaining 90% will be vested for 24 months

  • Locked LP - 12.5% will be locked in liquidity and be paired with MATIC - Polygon's native coin. The team is targeting 20,000 $MATIC / 10,000,000 $POTATO pairing.

  • Investors - 2.5% will be allocated for potential private investors. These tokens are sold at a higher price than on initial and are on standby. The team is selling The Howdy Studios equity and this token is just small portion of their investment. If no private investment comes in, these tokens will be burned and/or repurposed to marketing by end of Q1 2023.

  • Ecosystem - a large portion of the supply, 80%, will be for the community and the ecosystem. These includes all kinds of rewards such as staking, play-and-earn, minigames (betting), 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 minigames like Wheel of Fortune and Milking Contest

  • 30% tax on Honest Raffle prize pool (all burned)

Burning and Demand Mechanism

  • Minting Animal NFTs

  • Losses on Betting Games (Minigames)

  • Minigame Tax

  • Honest Raffle Tax

  • NFT Staking Tax

  • Marketplace Fee

More locations will be added to better circulate, burn and increase the demand for $POTATO.

Reward reduction

Rewards are reduced upon reaching total circulating supply milestones.

Burning events & activities will be held before reaching each:

  • 25 million (85% rewards)

  • 35 million (70% rewards)

  • 45 million (55% rewards)

  • 55 million (40% rewards)

  • 65 million (25% rewards)

  • 75 million (10% rewards)

  • 80 million (no rewards)

More tax mechanics and use-cases of the tax wallet will be introduced soon as we build more locations and events for the community

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