$Fire Token
This page describes the purpose of the $Fire Token and its synergy with the $Geeks token.
Last updated
This page describes the purpose of the $Fire Token and its synergy with the $Geeks token.
Last updated
The $Fire token was created to increase the purchasing power of the $Geeks token and to provide strong deflationary mechanics to the entire suite of Geeks Ecosystem's tokens.
$Fire has an initial Supply of two billion tokens, one billion on Base and one billion on BSC. The distribution of these tokens can be seen in the table below:
Presale
A presale will be completed for 10% of the total supply of the $Fire Token. These tokens are set to be distributed on the Base & BSC blockchains immediately after launch. The tokens will be sold at a rate equal to the starting market cap of the $Fire Token.
100% of the Presale funds will be placed into the LP. Other than the tokens purchased from the LP, these will be the only tokens in circulation at launch.
Scorcher Relaunch Allocation
The tokens for the Scorcher relaunch are allocated to holders who invested in that project back in December 2022 / January 2023 before the Blockchain rugged in March of that same year, resulting in a complete loss of funds for all investors. Their $Scorcher Token holdings were cut 3:1 and will be honored at that level.
None of the tokens allocated to previous holders will be airdropped, and all of them will be sold via an OTC platform, ensuring zero sell pressure on the chart from the migration.
The $Fire tokens allocated to the Treasury will be exclusively for funding peer-reviewed tokens liquidity pools providing an engaging trading environment.
The $Fire Tax Structure varies based on the liquidity pool. After the first phase of Geeks Ecosystem is complete, $Fire will be in eight liquidity Pools. The tax structure can be seen below.
There are no transfer taxes on the $Fire Token.
All tokens purchased within the Ecosystem with $Fire from the Treasury will be sent to the Burn Wallet.
The $Fire Token is not mintable except by the cross-chain bridge. These transactions do not increase in the total supply of $Fire.
The token launch for $Fire is scheduled for ~2 weeks after the $Geeks launch. The $Fire launch will result in four liquidity pools going live within the first hour of launch. Prior to the launch 50% of the presale funds and 10% of supply will be placed into an LP Pool on Base. The other 50% of the presale funds and 10% of supply will be placed into an LP Pool on BSC.
Roughly 1-hour after launch, a $Geeks : $Fire LP pool will be established on both chains. The value of $Geeks tokens added to the pool will be equal to the value of ETH & BNB on each chain, along with 10% of the $Fire supply. The wallet restrictions and taxes will follow the schedule below on both blockchains.
100% of the $Geeks Tokens purchased from the $Geeks launch taxes will be used to buy $Fire at it's launch. These tokens will be set aside for the $HouseHippo Launch.
50% of the funds collected from the taxes over the first hour of the $Fire Launch will be re-invested into the $Geeks Token and then used to purchase $Fire Tokens. These $Fire tokens will also be used for buying and burning $HouseHippo at its launch.
Shortly after launch the Wizard bridge will be updated to include $Fire for cross-chain bridging between Base and BSC.
Once the $Fire token is launched, the second phase of the Liquidity Web will be established. $Fire will receive its value on each chain, based on the ratio of $ETH/BNB to $Fire in the LP pools, as well as the ratio of $Geeks to $Fire.
Once the bridge is live, arbitrage will ensure that are within ~10% of each other in price. An additional benefit is that the $Fire Token will not have a single point of failure, as the value is determined by four pools on two chains.
The Smart Contract for the $Fire Token is identical in design to the $Geeks Token.
