Bot Planet migrated to the new contract!
Recently we had to undergo a contract change, which happened due to some issues with the old version.
Preliminary report: LINK
We are proud to announce our new contract and that we are audited by Certik. All of the issues were fixed.
Old contract: BSCSCAN 0x6fa690040946f49b9257B2F04f0611de55A5AF9F
New contract: BSCSCAN 0x1Ab7E7DEdA201E5Ea820F6C02C65Fce7ec6bEd32
- All audit details: LINK
We’ve also changed our forms of commissions, as before we had two types for the marketing wallet and burning wallet, now we have different forms. Right now, we only have buyback fee and burning fee. So, let’s get into the updates.
Functions of the new contract
In the following section we will be going over the two types of commissions: commission from the user of $BOT token, and also the accumulated tokens which are going to be used for automatic burning.
The fees charged are accumulated on the internal account of the contract, but none of the token holders have access to this balance, and the owner of the contract does not have this access either. The contract stipulates the full encapsulation of the balance, which is used only for the automated redemption of tokens and their burning.
In the new contract of $BOT (31st of January 2022) which is published in Binance Smart Chain (BSC) TestNet, as well as on GitHub of the project BotPla.Net, which is verified by an audit company Certik, you will find the following unchangeable rules of the contract:
When the contract is created two commissions are issued:
- burnFee – one time commission of 1% that is used for burning of tokens. The volume of the commission is set during the creation of the contract and in the future is unchangeable. This commission is taken from all the users of the token, aside from the owner address.
- buybackFee – commissions for buy-back of tokens from the total mass for their burning amount of 1%. The amount of the commission is set only when the contract is created and will also be unchangeable in the future. This commission is charged from all users of the token, aside from the contract itself and the owner address.
When the contract is created, additional values are set:
- _buyBackMiniLimit – what should be the minimum balance of the contract in order to start the mechanism which will redeem tokens for automatic burning. The limit is set at 10 BNB. This limit is set only when the contract is created and it cannot be changed in the future.
- _buyBackUpperLimit – max limit of tokens from one transaction is 10 BNB. This limit is also set when the contract is created, and therefore cannot be changed in the future.
When the contract is created, a special address is created declared, which remains unavailable and is used for burning in the future. _dead = 0x00000000….00dEaD.
How does the “BurnFee” commission work?
Since the contract does not work on its own in blockchain, there must be an action from the outside to make it work, a trigger of some sort. The most common trigger would be a transfer of tokens (_transfer). When this function is called upon, other functions begin to work and they check if the commission is 0. Taking in consideration, that in this contract commission is set at 1%, an operation begins to take place, which takes that commission, and then it is taken to the “_dead” address, which in other words means the loss of those tokens or burning.
Let’s take a look at an example:
Dan is transferring 100 $BOT with the commission of 1% (BurnFee). This commission is = to 1 $BOT. This token does not stay on the balance of the contract, but is burned and sent to “_dead” address.
How does the commission of “buybackFee” work?
Similar to the previous commission, a trigger for this commission becomes the function of transferring tokens (_transfer).
This commission accumulates the balance on the contract for an indefinite period of time, but when the sum of the locked funds gets above 10 BNB, a buyback function takes place. However, there is an important part, these tokens are not sent to the balance of the contract, instead they are sent to the “_dead” address, therefore tokens become unavailable for use, or in other words they are burned.
During the period of two months 1000 transactions took place, which all together brought profit to the contract through commission “buybackFee” in the sum of 9.99 BNB. Next transaction 1001 will be sending X amount of $BOT Tokens, which will bring commission of 0.02 BNB, and the moment it tips over the 10 BNB limit, the trigger happens. When that occurs, the contract will send in PancakeSwap from its own balance 10 BNB, and PancakeSwap will buy tokens their market price and send them to the “_dead” address. So when the address of the contract tips over the 10 BNB amount, the next transaction will be used to burn tokens.
All other changes you can see here: LINK