TOYBUX
White Paper
TOYBUX
A Decentralized Smart Contract for Yield Generation
ABSTRACT
TOYBUX is an innovative decentralized smart contract designed to enable users to effortlessly generate yield through staking. Our mission is to establish a secure and enjoyable staking platform, EarnToyBux.app, within the crypto space. $TBUX presents a practical, secure, and efficient means of transferring value in the digital currency age. By offering the right incentives, TOYBUX has the potential to become a compelling alternative to conventional digital currencies and tokens like Bitcoin.
INTRODUCTION
The crypto market has witnessed a rapid growth and expansion in recent years, with thousands of projects and tokens emerging to offer various solutions and use cases. However, not all of them are equally successful or sustainable, as many of them face challenges such as high fees, low scalability, security risks, regulatory uncertainty, and lack of adoption.
One of the most popular and promising trends in the crypto space is staking, which is a process of locking up tokens in a smart contract to receive rewards in return. Staking allows users to earn passive income from their holdings. Staking also creates a positive feedback loop that increases the demand and value of the staked tokens, as well as reduces the circulating supply and inflation.
However, not all staking platforms are created equal, as some of them have drawbacks such as high entry barriers, low returns, complex interfaces, or limited functionalities. Moreover, some staking platforms are centralized or custodial, which means that users have to trust a third party with their funds and keys, exposing them to potential risks of hacking, theft, or fraud.
Therefore, there is a need for a new and improved staking platform that can overcome these challenges and offer a superior user experience. This is where ToyBux comes in.
TECHNICAL OVERVIEW
ToyBux is a decentralized smart contract that runs on Pulsechain, a fast, open-source, public blockchain and a cost-effective hard fork of Ethereum. Pulsechain is the first hard fork to contain the complete state of the Ethereum blockchain, meaning that it holds records of every transaction, user account, and smart contract interaction on Ethereum. Pulsechain also improves upon Ethereum's value proposition by using delegated proof of stake validators instead of proof of work miners, resulting in faster transactions, lower fees, higher scalability, and lower environmental impact.
ToyBux is a PRC20 token that follows the Pulsechain token standard. PRC20 tokens are compatible with ERC20 tokens on Ethereum, which means that they can be easily transferred and exchanged across different platforms and wallets. ToyBux has a total supply of 100 Trillion tokens (TBUX), out of which 2 Trillion tokens are paired with PLS (the native token of Pulsechain) at launch. The remaining 98 Trillion tokens are locked in the ToyBux Reserve contract, which serves as the source of staking rewards.
ToyBux allows users to stake their TBUX tokens in the ToyBux Reserve contract for a duration of their choice, up to 11 years. Users can also collect interest from their stakes at any time without affecting their principal amount. The interest rate is determined by the length of the stake and the total amount of TBUX staked in the contract. The longer the stake, the higher the interest rate gets overtime. The base interest rate is 5% annually for staking, but it can reach up to an average of 80% annually for maximum stakes.
Staking TOYBUX also refers to calling forth "Toybots", which are virtual robots that work for the users by retrieving TBUX tokens from the TOYBUX Reserve contract as their reward for staking. The Toybots are sent off by the users when they create a stake, and they return with their bounty when the stake ends or when the user collects interest. The Toybots add an element of fun and gamification to the staking process.
ToyBux is completely decentralized and trustless, with no contract ownership or admin keys. The smart contract code is immutable and transparent, ensuring that no one can alter or manipulate it. Users have full control over their funds and keys at all times.
COLLECTING INTEREST/YIELD
A key mechanism of the ToyBux Token contract is an interest collecting function which enables the stakeholder to extract value generated by their stake at any time without having to end their principal stake.
The Interest Collecting function provides flexibility for the staker and enables strategic use of the contract. Once the interest/yield is collected, the yearly multiplier is reset to the base rate of 5%. The principal stake is not affected.
There are 3 points of interest in the ToyBux staking feature.
An annual base interest rate of 5%
An annual multiplier rewarding longer stakes (up to 11 years, Averaging 80%)
Standard market price appreciation.
TOKENOMICS
The economic model and incentives of ToyBux are designed to create a healthy and sustainable token ecosystem that benefits all stakeholders: users, validators, developers, and community members.
Users: Users can benefit from ToyBux by staking their TBUX tokens in the ToyBux Reserve contract and earning interest/yield from their stakes. Users can also trade their TBUX tokens on decentralized exchanges such as PulseX , which is a fork of Uniswap V2 on Pulsechain. Users can also enjoy low fees and fast transactions on Pulsechain compared to Ethereum.
Validators: Validators are nodes that help secure and operate the Pulsechain network by validating transactions and producing blocks. Validators need to stake 32 million PLS tokens to become eligible for validation. Validators can benefit from ToyBux by receiving a portion of the fees generated by the TBUX transactions on Pulsechain. Validators can also earn PLS rewards from the Pulsechain protocol for their service.
Developers: Developers can benefit from TOYBUX by building applications and services that integrate with the TOYBUX smart contract and platform. Developers can also leverage the Pulsechain infrastructure and tools to create innovative and scalable solutions for the crypto space.
Community: Community members can benefit from ToyBux by participating in the promotion of the project. Community members can also contribute to the growth and development of the project by providing feedback, suggestions, ideas, and support.
TOKEN ALLOCATION
- 2% of the total supply (2 Trillion TBUX) was paired with PLS at launch and distributed via airdrop at a ZERO value to the users who participated and ranked in the "CEREAL LEAGUE" or were 1% holders of $PEGD (Peg ME pDAI).
- 98% of the total supply (98 Trillion TBUX) are locked in the ToyBux Reserve contract and distributed to the users who stake their TBUX tokens in the contract over time.
- No tokens were allocated to any team, founders, or advisors.
Token Allocation
DEFLATIONARY/EARLY END STAKE
The token supply of TOYBUX is fixed at 100 Trillion TBUX, with no inflation or minting. However, the token supply is actually deflationary, as some TBUX tokens are burned from the TOYBUX Reserve contract whenever users end their stakes early. This is called Emergency End Stake which creates a scarcity effect that could increase the value of the remaining TBUX tokens. Stakers are not to be penalized ending the stake within the first 24 hours of the stake. When ending your stake after the 24 hour grace period you will be penalized 50% of your principal. Once you have served at least 50% of the staking period, you can end the stake with no penalties.
If a staker decides to end their a stake early, and they have served under 50% of their staking period, they are penalized 50% of their principle and 100% of their interest earned since last collection.
If a staker decides to end their stake early, and they have served over 50% of their staking period, the penalty will be calculated based on how much time has been served thus far. All interest and principal collected as penalties for ending your stake early, will be burned causing TOYBUX to be deflationary.
YEARLY INTEREST RATES
TOYBUX YIELD
COMMUNITY DRIVEN
ToyBux is ran by the Pulsechain community which consists of experienced and passionate developers, designers, marketers, community managers and members who share a common vision of creating a secure and decentralized crypto space. This community is inspired by Richard Heart, the founder of HEX and Pulsechain, who has donated millions of dollars to medical research.
CONCLUSION
ToyBux is a decentralized smart contract that enables users to effortlessly generate yield through staking. It is an exclusive currency that operates on Pulsechain, a fast, open-source, public blockchain and a cost-effective hard fork of Ethereum. ToyBux offers a practical, secure, and efficient means of transferring value in the digital currency age. By offering the right incentives, ToyBux has the potential to become a compelling alternative to conventional digital currencies and tokens like Bitcoin.
If you are interested in joining or supporting the ToyBux project, please visit our website EarnToyBux.com, follow us on Twitter @EarnToyBux, join our Telegram group T.me/EarnToyBux, or contact us at EarnToyBux@Gmail.com.
DISCLAIMER
ALL INFORMATION PROVIDED IN THIS WHITEPAPER IS SOLELY INTENDED TO PROVIDE A DETAILED DESCRIPTION OF THE FEATURES AND FUNCTIONS OF THE TOYBUX RESERVE CONTRACT. USERS ARE ADVISED TO EXERCISE THEIR OWN DISCRETION AND JUDGMENT WHEN UTILIZING ANY INFORMATION OR ENGAGING IN ANY INTERACTIVE ELEMENTS OFFERED ON THE EARNTOYBUX.COM OR EARNTOYBUX.APP PLATFORM. DYOR AND USE AT YOUR OWN RISK.