SnowgeCoin (SNOWGE) was built by a dedicated team as a simple DeFi protocol that allows anyone to participate in yield farming mechanics without complicated or expensive staking while also enabling a simple route to charitable contributions through smart contracts to help our four-legged friends in animal shelters across the world.
At its heart, SnowgeCoin is a deﬂationary meme token that aims to do some good in the world - expanding on existing decentralized ﬁnance protocols while building on them in order to further push the envelope of what a meme token can be capable of. Snowge doesn't belong to anyone, it belongs to everyone!
By the way, say hello to our mascot, Snowge McFloof - he’s a samoyed!
Purpose & Goals
1. Community Owned: We built SnowgeCoin to be a community owned protocol with a simple DeFi mechanic that rewards those that hold the coin while discouraging swing trading and pump-and-dump schemes through randomized transaction fees that are distributed to holders (also known as codlers) and automatically added to the existing AMM liquidity pool.
2. Simplified, Fair, and Safe Protocol: When we created Snowge, we wanted to ensure our DeFi token was not only one of the easiest protocols to participate in, but also one that would ensure a fair and equitable investment opportunity for anyone interested.
3. Charity Oriented: Our ultimate goal was to create a simple and safe charitable opportunity to give our community and any Binance Smart Chain users an easy (and profitable) way to save as many of our four-legged friends as possible!
DeFi is and has been a complicated and confusing ﬁeld for most investors and as a result, it struggles to ﬁnd mainstream adoption. In addition, most of the DeFi protocols available today are not only built with the sole purpose of wealth generation but tend to take a large cut from their users.
As we have learned, this helps the platform generate wealth for itself, but it doesn’t always work out well for its investors. Some of these “options” directly steal from their investors with “rug pulls” and pre-mined/farmed tokens. Some of them just take a little off the top while artiﬁcially inﬂating their token price, creating a bubble just waiting to pop.
This is where SnowgeCoin comes in. After watching other similar tokens enter the scene, shamelessly steal other people’s money and leave investors empty handed, the Snowge team decided to build a token and a platform that was completely safe from rugpulls - no developer tokens, no liquidity being siphoned, and the dream of being able to truly help save cute ﬂoofers across the planet.
And that’s exactly what we did. SnowgeCoin is the ﬁrst deﬂationary, auto-staking, auto liquidity-injecting protocol to implement randomized fees, permanently burn liquidity tokens, and renounce contract ownership, launched on March 20, 2021.
After launching via pre-sale utilizing the DxSale service (locking initial liquidity for 5 years with DxSale), we renounced ownership of the LP controlling wallet to permanently lock the initial liquidity ensuring a safe and rug-proof investment and donation opportunity. As the owner of the contract controls all newly injected liquidity, this means that the entire SnowgeCoin Liquidity pool is either locked or owned by the burned/dead address - in short, it’s tamper-proof.
The initial DxSale pre-sale offering was to a total of 500 wallets at a max initial purchase of 1,000,000 SNOWGE tokens for 0.1 BNB for a total of 50 BNB raised, paired with 500,000,000 Snowge and locked as initial liquidity. The initial pre-sale was conﬁgured in such a way to allow initial purchasers the ability to forgo the randomized transaction fees.
The presale was fully committed within 3 minutes of opening the offering.
Two hours after the presale was opened, it was ﬁnalized and liquidity was added to PancakeSwap to allow market transactions of SnowgeCoin. All tokens minted were included in this presale, with zero tokens reserved for the team. All team members were forced to attempt to participate in the presale to acquire their initial tokens, and some even had to purchase during the initial market offering.
NFTs and Donations
The end goal of SnowgeCoin is to help our four-legged friends as much as possible - but with a sustainable platform. Towards this end, we have planned out and began a two-pronged approach related to SnowgeCoin NFT’s (FloofyNFTs) that will allow us to donate to charity, create a lasting platform on the Binance Smart Chain to support artists, and gamify the NFT scene in a manner that’s enjoyable for both NFT enthusiasts as well as supporters of the Snowge ecosystem.
(Note: Although our NFT plans are well under way, speciﬁc details in this section are subject to change based on several factors).
Part 1: NFT-Incentivized Charitable Donation Marketplace
In our mission to help save the ﬂoofs, the SnowgeCoin team is developing smart contracts that will enable token holders to commit their SNOWGE tokens in exchange for NFTs (non-fungible tokens) commissioned by the team, creative leads, community, and future partners. These NFTs will be hosted on the SnowgeCoin website, and will begin with several limited edition series of unique, Snowge-themed NFTs before eventually branching out into a place for all artists to host their NFTs in order to help raise charity funds. In time, SnowgeCoin will be developing a full ﬂedged NFT marketplace, with customized SnowgeCoin Trading Cards, NFTs of rescued animals, and other key functionality - all with the goal of incentivizing donations to animal shelters. Because donations should be voluntary.
A majority of the tokens committed to these contracts are to be converted to cryptocurrencies accepted by various animal shelters and charities selected by the community, in order to help save the ﬂoofs.
Donations for these NFT’s will be accepted in SnowgeCoin tokens, providing a proper use-case for the token, increasing transaction volume, and driving value for token holders. Donated funds will be distributed to charitable organizations of holders’ choosing, used to compensate artists for their work, andfund the Snowge Community Fund for further platform development.
Decision-making regarding the aforementioned NFT-incentivized charitable donations will be powered by a DAO(decentralized autonomous organization) in order to allow Snowge holders the right to choose which charitable organization their donations will go towards.
Part 2: FloofyNFTs
In addition to the above plans, there is another key aspect to SnowgeCoin’s NFT future - an NFT powered virtual world based on the FloofyNFT speciﬁcation.
FloofyNFT’s will have additional functionality and a speciﬁc UI built around their use - currently, planned functionality includes petting your FloofyNFT, feeding your FloofyNFT treat tokens, acquiring hats and other outﬁts to decorate it, and other tasks that will utilize SnowgeCoin.
These metrics will be tracked on an aggregated leaderboard, and leaderboard winners will regularly be given prizes in Snowge based on the relative ﬂoofyness of their NFT’s - further incentivizing participation in the FloofyNFT system. These additional functions serve a dual purpose - as actions will require Snowge, the FloofyNFT game will fund itself as long as there are enough players, while also raising Snowge funds to be used towards further charitable donations and a regular burn mechanisms in order to keep the coin deﬂationary.
More details to be added as they are available - this section is subject to change as time goes on. Donation contracts are currently in the testing phase on the testnet and will be available when their functionality and security can be conﬁrmed. Beta versions of FloofyNFT contracts have already been deployed on mainnet and are currently available for early donors.
1,000,000,000 (one billion) SnowgeCoin tokens were initially minted.
500,000,000 (ﬁve-hundred million) tokens were offered in the initial pre-sale offering with DxSale.
475,000,000 (four-hundred-seventy-ﬁve million) were locked into initial market liquidity for 5 years.
15,000,000 (ﬁfteen million) were manually burned by the development team before the successful launch of the token.
Following this manual token burn and a manual burn of all liquidity pool tokens accrued in the ﬁrst day of trading, ownership of the token contract was renounced permanently by the developer wallet.
Transaction Fee Breakdown
The SNOWGE BEP-20 token features a random 2%, 4%, 6% or 8% reﬂectionary transaction fee on every transaction. This creates a deﬂationary effect on the token itself, simultaneously rewarding token holders, increasing the inferred value of the token through burns, and increasing/improving market liquidity of the token.
The randomization aspect of the transaction fee is based on the current block height, and is calculated via the following formula:
TotalTransactionFee = 2 * ((BlockHeight % 4) + 1)
Thus, a block height of 4000000 would result in a transaction fee of 2%, a block height of 4000001 would result in a transaction fee of 4%, and so on. At a block height of 4000004, the transaction fee would reset to 2%.
The transaction fee is further broken down as follows, where the burn address (0x000000000000000000000000000000000000dead) is also one of the addresses that owns SnowgeCoin.
Each transaction fee has several distinct pieces. At the time of writing, the burn address contains 1.85% of the total SnowgeCoin supply.
If we take the example of 100 SnowgeCoin tokens being transferred at the block height of 4000000, it will result in a 2% transaction fee being enacted.
98 SNOWGE tokens will be delivered to the intended recipient, and the remaining 2 SNOWGE tokens will be split up as follows:
● 50% Reﬂect & Burn (1 SNOWGE). ○ With the burn address making up 1.85% of the supply, this means that 0.0185 tokens are burned. This value increases as more tokens are burned over time.○ The remaining 0.9815 tokens are distributed to all other SnowgeCoin token holders. This value decreases as more tokens are burned over time. ● 50% Automatic Liquidity Pool Injection (1 SNOWGE). ○ 1 SNOWGE token is sent directly to the SnowgeCoin contract, which collects them until it reaches the number of tokens required in order to perform a liquidity injection event (500,000 tokens).○ Once the contract has accumulated 500,000 tokens, 250,000 are sold into BNB.○ The 250,000 remaining Snowge tokens are then paired with this BNB, and injected into the liquidity pool in order to help stabilize the price.
SnowgeCoin is a BSC token built by the ﬂoofs, of the ﬂoofs, and for the ﬂoofs. The ﬁrst fairly launched coin to be anti-rugpull, anti-bleed-out, and anti-whale, with a mission and a long-lasting plan to provide aid to animals in need while building a strong community along the way.