# $BANDS... The WhitePaper

#### First off welcome, a lot of people don’t take time to read the whitepaper. This paper is organized with the important stuff at the top and gets generic about halfway down. Give it a read, we hope you join the fam.

The $BANDS protocol is nothing new, it's just going to change the face of crypto and the meaning of social entrepreneurship from this point forward.

The $BANDS protocol is "Rug Free", providing static rewards, LP acquisition and manual burn. There's a lot of "SAFE" out there, and truth be told, they, and a large number of other projects use audited code from open source projects to bring you a variety of projects and tokens in the DeFi, social and MEME space. $BANDS is no different in this regard, it's the smart thing to do.

Whats up with $BANDS then you may be asking yourself, so here's the answer
> 1. $BANDS is a pet project we recently took on, a bit of a distraction from what we've been working on for the past 12+ months. More on that below...
> 2. The $BANDS protocol employs 3 simple functions: Reflection, LP acquisition and manual burn
> 3. $BANDS is a movement to bring wealth to the everyday person, which is why were giving away a large percentage of the minted tokens.
> 4. We've been working for the past 12+ months on some kick ass DApps in the DeFi and Social Marketing space that will leverage a common platform token (yet to be named publicly) that has the features of a DAO but is also a utility token. These DApps are currently in a late MVP stage, as we automate to make for a better UX and refine the UI.
> 5. $BANDS will be convertible to the new platform token (late Q3 or early Q4 2021), at which point you could choose to continue to HODL $BANDS or convert. The only way to obtain this new platform token will be via the conversion contract.
> 7. We have a kick ass team of smart people that like to work but like to have fun.

## $BANDS Protocol

- $BANDS contract address: 0x93a9493bd5ac3188608a746ad0b8329ed35ad842
- Faucet contract address_v1: 0xbc72cdb78c0fa52ae759dd9bff9719dae853cfc9
- Faucet contract address_v2: 0xa9D07f66A12125FC873d962301F35f58434C0EBa (current)
- $BANDS minting address: 0xd636629B718875Db59229D31428bd4E53488Ae3a

$BANDS employs 3 simple functions: Reflection, LP acquisition and manual burn. Each transaction is taxed a 10% fee, which is split 2 ways.

> * 5% fee = redistributed to all existing holders
> * 5% fee is split 50/50, half of which is sold by the contract into BNB, while the other half of the tokens are paired automatically with the previously mentioned BNB to provide liquidity for the pair on PancakeSwap.
> * More on the manual burn can be found below

## $BANDS Launch
The total number of minted tokens is one quadrillion. That's a lot of tokens (1,000,000,000,000,000), but no worries, we will be randomly and frequently burning a tonne of tokens, it will be quite the spectacle. On top of that we will be giving away "For Free" upto 30% of the post burn tokens, but were not telling you that number as we don't want you do the math.

## $BANDS Distribution
- Founders have no tokens at launch. To ensure fairness, founders will make there wallet addresses public, and will purchase their tokens from PancakeSwap. All token activity related to changes of the circulating supply can be validated at "0x6024BE39278B6B847f0938eA8C41a88131305ea3". This is the address to watch in case you want to audit the project.
- Please note that a percentage of post burn tokens will be used for marketing. This process will happen via the faucet and will be fully transparent to our community, the data will be easy to access and understand.
- There will be 2 initial transactions from the wallet identified above. The first being to validate the production faucet, the second to setup and validate .13 BNB of liquidity on PancakeSwap.
- Initial liquidity is being provided via the deployment address with peronal funds from the team. The tokens earned via reflection will be burnt.
- additional liquidity will be provided via some close supporters of the project, these persons are not affiliated with the project and will be awarded $BANDS tokens for the purpose of providing initial liquidity for the community.

The transaction ledger can be found at https://hackmd.io/@BANDS/HkzmFACOO

## $BANDS Features

### Static Reflection

> Static rewards solve a host of problems. First, the reward amount is conditional upon the volume of the token being traded. This mechanism aims to alleviate some of the downward sell pressure put on the token caused by earlier adopters selling their tokens after farming crazy high APY’s. Second, the reflect mechanism encourages holders to hang onto their tokens to garner higher kick-backs which are based upon a percentages carried out and dependant upon the total tokens held by the owner.

### Manual Burns

> Sometimes burns matter; sometimes they don’t. A continuous burn on any one protocol can be nice in the early days, however, this means the burn cannot be finite or controlled in any way. Having burns controlled by the team and promoted based on achievements helps to keep the community rewarded and informed. The conditions of the manual burn and the amounts will be advertised and tracked.

> $BANDS aims to implement a burn strategy that is beneficial and rewarding for those engaged for the long term.

### Automatic Liquidity Pool (LP)

> Automatic LP is the secret sauce of $BANDS. Here we have a function that acts as a two-fold beneficial implementation for holders.

> First, the contract sucks up tokens from sellers and buyers alike, and adds them to the LP creating a solid price floor.

> Second, the penalty acts as an arbitrage resistant mechanism that secures the volume of $BANDS as a reward for the holders. In theory, the added LP creates a stability from the supplied LP by adding the tax to the overall liquidity of the token, thus increasing the tokens overall LP and supporting the price floor of the token. This is different from the burn function of other reflection tokens which is only beneficial in the short term from the granted reduction of supply.

> As the $BANDS token LP increases, the price stability mirrors this function with the benefit of a solid price floor and cushion for holders. The goal here is to prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much as if there was no automatic LP function.

Thanks for reading