Here’s What to Expect in V2 of $SCC
First of all, Scary Chain Capital Version 2 is audited. All the claims contained in this article have been verified by a 3rd party Smart Contract Auditing entity: Solidity Finance.
Why the need for V2?
SCC V1 was launched on the 24th of November. The smart contract V1 minted new SCC at every sale and the supply was growing non-stop. In addition, many holders disliked the tax on transactions from one wallet to another.
The solution to this is the smart contract V2 that allows us even greater flexibility.
In V1, the supply was unbounded. That essentially means, if everything else remains constant, increase in supply would devalue token’s price — leaving the possibility for inflation.
In V2, the supply has been fixed and kept static, leaving out any room for cost-push inflation.
With the new smart contract, the supply is static and we can become deflationary anytime. The supply was increased from 1T to 2T and the extra supply is going to be used to bring SCC to new chains.
You’ll be able to purchase SCC on Ethereum and Binance Smart Chain first but we can reach any EVM compatible chain!
Dynamic Tax Policy
By not renouncing the contract, SCC can change its tax policy. This means that we can increase reflections during uptrends and not harm the treasury at all.
Adjusting the tax policy can open new scenarios for our holders. We’ll explore them very soon once we have a feedback of the current market trend.
Shareholders Earning: If you buy or sell $SCC, shareholders get 5% reflections.
Development & Marketing: If you buy $SCC, 5% is split among the Treasury and marketing team for the expansion of the SCC project.
Treasury Growth: If you sell $SCC, treasury grows 5% tax. So, if $SCC price goes down, treasury goes up.
This means even bigger reflections and a bigger treasury for our holders. And now you can also move your SCC between your wallets or send them to your friends without paying any tax.
We hope we met your expectations on the migration process. There is a ton of positive feedback about it on Twitter, Discord and Telegram.
For all those that did not migrate for whatever reason, but purchased before V2 was released, they can still get V2 by contacting us. No one was left behind. No one lost any token during this process. We kept the same price at snapshot time.
We always strive for continuous learning, meaningful change and fruitful development. While we keep building and prepare for what’s coming, we recommend you to HODL and enjoy the reflections!