Elastic Burns 🔥
A revolutionary system that increases GENX value over time.
To protect the token's price, EVODEFI developed a burning system that uses the protocol revenue to fund buybacks. They act removing GENX from circulation and increasing its scarcity, to protect their value and increase it over time. This system is called Elastic Buybacks, and it's entirely related to the token's current price.
When the token's price is low, the burning rate increases. When it's higher, the rewards tend to get higher and the token tend to be less dependent of burnings. In this case, the burn rate gets lower.
When the price is under $1, 2,880 GENX are burned every day; When the price is between $1 and $2, 1,440 GENX are burned every day; When the price is between $2 and $4, 720 GENX are burned every day; When the price is between $4 and $8, 360 GENX are burned every day; When the price is between $8 and $16, 180 GENX are burned every day; When the price is higher than $16, 140 GENX are burned every day. The Elastic Buybacks were implemented at 09-07-2021 and, thanks to it, GENX established a strong floor at $0,12.
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