2spice

Whitepaper

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Abstract

This whitepaper outlines the technical design decisions and features of the 2Spice token within the modern Defi system. It describes the two - pool system and mechanics of the 2Spice token contract. Additionally, it introduces innovative methods like "swap and liquify" and "swap and evolve" for increasing token value. Token minting is restricted to swap transactions, and new tokens are only minted when tokens are sold or purchased on the internal pool or when liquidity is added to the Pancake Swap pool via the token contract.

The Token

2Spice is a community-driven Defi token ecosystem that offers users opportunities to gain capital and earn more tokens through various games and tasks. It aims to shift the power from developer-focused Defi ecosystems to investors, allowing them to benefit from token value appreciation without excessive fees. The Spice token relies on two liquidity pools: the internal pool and the Pancake Swap pair. Currently, the only pair token for 2Spice is BUSD, providing stability to the SPICE tokens.

Spice Smart Contract

2Spice introduces the SPICE (2Spice) token, an ERC-20 token on the Binance Smart Chain (BSC). The token serves as a utility token for the 2Spice ecosystem, providing value gain opportunities for users. Notable features include:

Swap and Evolve: This functionality collects BUSD tokens from fees, accumulates them, and swaps half of the BUSD tokens for SPICE at a certain threshold. The tokens are then added to the liquidity pool to counter the negative effects of the swap and liquify functionality.

Swap and Liquify: This functionality serves as a liquidity drip into the Pancake Swap liquidity pool for the BUSD/SPICE pair. It mints an equivalent amount of SPICE tokens corresponding to a percentage liquidity fee collected in BUSD and adds both tokens to liquidity.

Fees and exemptions: Fees are introduced for pool-based transfers, while certain transaction accounts are exempt from transfer fees

The Liquidity Pool

The 2Spice liquidity pool is handled internally by the 2Spice contract and a SPICE/BUSD pair on Pancake Swap. The internal pool reflects the price of SPICE based on the pair price on Pancake Swap. Each minted Spice token has a corresponding underlying BUSD value, ensuring stability in the long run. A portion of the buy and sell fees are deducted as liquidity pool tax, increasing the value of the underlying asset and the token's price.

Buying and selling of SPICE tokens are facilitated through the 2Spice internal swap or PancakeSwap. Buying incurs a 5% fee, while selling incurs a 10% fee. The fees are utilized to support the ecosystem by funding various wallets and liquidity pools.

Utility of SPICE Trading Fees

Trading fees generated from buying and selling SPICE tokens are distributed as follows:

Buy Trading Fees: 1% to the Treasury, 2% to the reward contract, and 2% to the liquidity pool. - Sell Trading Fees: 2% to charity, 3% to the liquidity pool, 3% to the Treasury, and 2% to development and marketing.

These fee distributions support the ecosystem, provide a marketing budget, fund new projects, and contribute to charity initiatives.

Wallets and Their Objectives

The 2Spice ecosystem includes several wallets with specific objectives:

The Treasury: Supports the ecosystem during emergencies, funds new projects, and provides financial backing.

The Dev and Marketing Wallet: Funds marketing efforts and continuous improvement of the 2Spice ecosystem.

The Charity Wallet: Supports community-voted charitable projects.

The Liquidity Handler Wallet: Serves as the backbone for the swap and evolve functionality of the 2Spice liquidity pool.

How To Trade

Trading on 2Spice is straightforward. Users require a BNB Smart Chain-compatible wallet and BUSD ERC20/SPICE tokens. Trading can be conducted on the 2Spice exchange or PancakeSwap. The process involves connecting the wallet, checking details, and confirming the transaction.

The Ecosystem

2Spice aims to create a thriving ecosystem where users can transact, interact, learn, work, earn, and be entertained using the 2Spice token. The ecosystem includes various platforms and games, providing opportunities for users to earn tokens in different ways.

Principal projects include:

Blockchain & Swap: A blockchain and swap system that ensures stability and regulates token circulation.

Real Estate: Investments in real estate properties, starting with holiday houses in the Netherlands.

Subordinate projects (under development) include:

  • Community Blog: A platform for bloggers to share content and earn money through likes.
  • Community Fundraising: Financial assistance for distressed community members.
  • 2SpiceArt: A platform for artists to showcase their skills and get paid.
  • Shop Digital: An e-commerce space for digital services.
  • Games (play and earn): Engaging games with token earning opportunities.
  • Watch to Earn: A platform for content creators to pay for exposure.