GEN has a unique trick up its sleeve that gives it a huge advantage. We are very proud to announce TokensByGEN our Token Generator Tool that anybody can use to make a token. Profits from this tool support GEN. Every time somebody uses our Token Generator to make a token, the flow of money feeding GEN increases.
TokensByGEN provides a constant one-way flow of BNB into GEN. This flow of money into GEN is fully automated and 100% external. We are currently using it to add additional liquidity and pay for marketing. In future, it will be used to feed out staking vault and fund other GEN utilities. It is also allowing us to gradually reduce our native fees, which gives our token many advantages.
Over time, as more tokens feed GEN, we will gradually reduce our fees. This gives our token many powerful advantages.
To pay for marketing, contracts sell the native token to get BNB. Which means that growth is always 2 steps forward, 1 step back. Our goal is to remove these fees completely. So our token will never need to sell itself to pay for marketing or liquidity. This frees us from the burden of "contract sells" that constantly stifle growth.
Fee processing creates a double sell. This shows up as two (or sometimes more) sells in the same second. Double sells cause a lot of FUD because many people think they are bots. FUD leads to panic selling, which can destroy a token! Eventually, we will remove the need for our contract to sell our token. Which will eliminate double sells and prevent FUD.
People invest to make money. Lower fees equals more money! Nobody likes losing part of their gains to contract fees so by removing our fees our token becomes much more attractive to potential investors.
Fees can be an huge obstacle if you want your token to be taken seriously. Many respected exchanges will not list a token with high fees and even low fees close the door on the most powerful use case for any token... the ability to be used as a replacement for fiat. Once we have achieved our goal of completely removing our fees we open up countless possibilities.
GEN originally launched with 12% buy and sell fee, but thanks to the unique way GEN is externally funded, this has now been reduced to 9%
As more tokens begin to feed GEN the fees will be gradually reduced, and eventually removed completely. This opens up many possibilities for future use cases and allows GEN to be taken much more seriously. Our ultimate goal is to have GEN listed on established exchanges such as Binance.
The fees are currently set to 2% reflection and 7% to marketing and liquidity as needed. We will continue to micro-manage the contract fees (balancing liquidity and marketing) to support optimum growth.
The initial liquidity has been locked at DXSale for 3 months. The lock opens on 10th June 2022. At this time, depending on our growth we may redeploy the token with some updates and changes, or we will continue as we are and re-lock the tokens.
Possible changes may include redeploying the contract to move to a cross chain platform. We may also remove reflection code (if we have reached over 5,000 holders) and any unnecessary code that is no longer required if we do not need to process fees. Removing fee processing code is not essential, we can simply set fees to 0. But it will reduce the gas costs for every future transaction. When we remove all fees completely we will also add code to protect the contract from sandwich bot attacks.
Any token is only as safe as the developer behind it. That's why you need a trusted developer that is properly doxed. Steven Hall (AKA Gen of GenTokens) is fully doxed and has completed KYC Verification for CoinSniper and Audit Rate Tech.
Everything that we do at GEN is done the right way, with full transparency, fairness and proper protocols.
This means that we absolutely will NOT be fast-tracking CG and CMC. We will not artificially inflate our volume by buying and selling our own token over and over on multiple wallets. We won't try to trick our way to the top of any listing with manipulation that paints a false picture of the status of our token.
When we meet the requirements to be listed on various platforms, we will apply. The way it was intended by the people that created these platforms.
Because GEN doesn't need to feed itself, the amount of money coming in is unlimited. Each time somebody uses our token generator, or I write a custom contract for a client, GEN gets more money. Eventually, we will have more money than we need to spend on marketing. At this time we will begin to introduce ongoing buy backs, constantly pumping the token, putting lovely green candles on the chart and increasing the price.
Ongoing buy backs will be used to add more liquidity and provide tokens for the staking vault.