Scribd
Upload
19 views

Mewnbase Reflections

The document discusses the history and mechanics of rewards tokens, starting with Safemoon and how Mewnbase improved on the concept by using non-native currency rewards and deploying on the low gas Base chain. It details how the Mewnbase contract works by using buy/sell taxes to swap the native token for ETH rewards that are automatically sent to holders' wallets based on their bag size and trading volume.

Uploaded by

passivecryptohunter
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
19 views

Mewnbase Reflections

The document discusses the history and mechanics of rewards tokens, starting with Safemoon and how Mewnbase improved on the concept by using non-native currency rewards and deploying on the low gas Base chain. It details how the Mewnbase contract works by using buy/sell taxes to swap the native token for ETH rewards that are automatically sent to holders' wallets based on their bag size and trading volume.

Uploaded by

passivecryptohunter
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

The History of Rewards Tokens

The first rewards token was Safemoon, which came out of nowhere and climbed to an
unprecedented 17 Billion at its peak. The basic flaw of Safemoon was that it paid the rewards in its
native token, which would need to be swapped out to BNB to make real gains. The next generation
of rewards tokens gave out non-native currencies as rewards. Notably, Babycake was a pioneer in
this regard, with its CAKE rewards. Although ETH rewards tokens have been deployed in the past,
due to the high gas fees on the Ethereum network, they never got the chance to flourish properly.

Mewnbase is the ascendant in this lineage. The Mewnbase contract was created to be sustainable
at high volume and market cap and was deployed on Base chain due to its low gas fees.

The liquidity was burned at launch.


https://basescan.org/tx/0x04a206ebf81b4cc140dd9f6b958ff90c3209aeb3d83d2273e78ef3d9d4752d4
6

The contract was tested in a live trading environment for 24 hours before renounce, revoke
blacklist and revoke transfer delay.
https://basescan.org/tx/0x6ea8aa9bfa387566f7da7d34fb7be525a95d400b9f978f6d2786bcd8ba21ae4
6

The Mewnbase contract has been audited by Dessert Finance and can be viewed here.
https://www.mewnbase.org/_files/ugd/834baa_13128f8fd591425996d31f82d2eea8d3.pdf
Mewnbase Contract Mechanics
Reflections tokens, also commonly known as rewards tokens, work by using the buy/sell tax to
swap the native token for ETH which is then sent in the form of holder rewards directly into
your wallet.

Once a certain threshold is met, meaning that the rewards are X times larger that the
transaction fees, the ETH rewards automatically drop into your wallet. Your ETH rewards are
based on a formula of bag size X trading volume.

The contract can distribute as often as every 15 minutes once all of the thresholds are met.

There is a minimum amount of tax that needs to be collected before the contract attempts a
sell. It does this to prevent wasting money trying to sell nothing, when nothing has been
collected.

The minimum amount that needs to be collected is .01% of the total supply. This ensures the
sustainability of the contract as the market cap grows over time.

Once these thresholds have been met, then the tenth sell will trigger a distribution.

For the distribution, the contract doesn’t distribute to everyone at the same time. It is
constantly trying to distribute to people as efficiently as possible.

There is a minimum amount of ETH dividends that needs to be earned prior to distribution in
order to avoid paying gas that costs more than the ETH it is distributing.

Accumulated rewards can be viewed by pasting your wallet address in Basescan and looking at
internal transactions.

You might also like