What is Deflect (DEFLCT) | What is DEFLCT token

DEFLECT Protocol ($DEFLCT) is an Ethereum token that improves on the many forks of Reflect (RFI). These improvements consist of upgraded tokenomics via an increased token burn rate, liquidity locking to prevent “rug pulls” which increases the decentralization value, and also provides utility functionality for other Reflect tokens inside of the DEFLECT ecosystem. The Reflect forks that are provided utility were initially chosen by the Deflect team. However, in the future, the Deflect token may operate as a governance token to allow community voting on the next reflect fork token to be gifted utility value.

How Does it Work?

$DEFLCT works by redistributing 1.5% of every transaction to existing $DEFLCT holders instantly, and automatically, after each transaction, with no action or GAS spending required by holders. This means holders gain value by way of additional tokens with each transaction conducted. In addition, an innovative deflationary function has been added where 0.75% of every transaction is burned, removed from supply forever. Finally, to assure confidence from the community on future development of the project, a nominal 0.25% of transactions goes towards a development treasury fund. The percentage of fees you earn is calculated by the percentage of $DEFLCT that you own compared to all other holders. This results in a much higher than normal yields for holders for simply owning $DEFLCT tokens. As an added bonus, holders receive lucrative multiplier bonuses in staking pools in the Deflect ecosystem.

$DEFLCT Deflationary Features

Dragonfly’s team sought to fix the one perceived negative within the RFI’s ecosystem, by providing a native deflationary measure. $DEFLCT compounds this concept by taking an even more aggressive deflationary approach. This is where the 0.75% of each transaction is burned comes into play. Thus as supply dwindles at an increasing rate from ecosystem and community growth, prices can rise as tokens become more scarce over time.

$DEFLCT Utility

The value $DEFLCT aims to bring to the RFI inspired ecosystems is, simply put: utility. By adding LP staking and multipliers, we are offering true utility to the token and functional purpose to Reflect fork tokens.

Though, naturally, Reflect (RFI, contract address: 0xa1afffe3f4d611d252010e3eaf6f4d77088b0cd7) itself will be utilized in the Deflect ecosystem, we will also add two additional RFI forks.

The two starting RFI forks we will be creating utility for are

Dragonfly (DLFY)

Contract address: 0x70a6d0d1561ba98711e935a76b1c167c612978a2

Stargazer (STGZ)

Contract address: 0xa9a8377287ea9c6b8b4249dd502e75d34148fc5b

LP Staking pools: Earn returns from a variety of strategies and yields by farming DEFLECT with DEFLECT/ETH LP or DEFLECT/RFI LP.

You can spend Stargazer or Dragonflies tokens to get pool boosts to get up to 2x your yield. This means you can spend small amounts of $DFLY and $STGZ to get even more $DEFLCT through multipliers and bonuses.

$DEFLCT The Global Multiplier

Hold $DEFLCT to get a global multiplier on all pools you are farming in the ecosystem. What this means is that by holding $DEFLCT in your ETH address, or $DEFLCT locked up in LPs you control in your ETH address, you receive higher reward emissions. You can receive up to a 120% bonus on your stake by combining global multipliers and spendable boosts on pools!

The breakdown of these bonuses are as follows:

Hold 25-125 DEFLECT for 2% Global Boost on all pools

Hold 125-250 DEFLECT for 10% Global boost on all pools

Hold 250-500 DEFLECT for 25% Global Boost on all pools

Hold 500+ DEFLECT for 50% Global Boost on all pools

SPEND RFI, STGZ, or DFLY to get up to 50% boost on individual pools

SPEND X RFI, STGZ or DFLY for 5% boost

SPEND X RFI, STGZ or DFLY for 10% Boost

SPEND X RFI, STGZ or DFLY for 20% Boost

SPEND X RFI, STGZ or DFLY for 30% boost

SPEND X RFI, STGZ or DFLY for 40% Boost

SPEND X RFI, STGZ or DFLY for 50% Boost

A True Fair Launch

DEFLECT Protocol believes in a completely fair launch. This means no private presales, no VC’s, and no ICO. Everyone has a fair chance to get tokens both during and after liquidity has been added to Uniswap and can buy without fear.

1. No VC’s

2. No private presale

3. No ICO

Liquidity Generation Event (LGE)

LGE input ETH - DEFLECT/ETH LP

Liquidity Generation Event Bonus: 50,000 $DEFLCT

Funds generated from the LGE will be used to provide liquidity for the project with 10% of funds going to further develop the project and fund necessary components such as marketing. Depositors of the LGE will receive a proportion of the funds from the LGE Bonus of $DEFLCT as an incentive to provide liquidity based on the total amount provided by the user compared to the total amount contributed by all users. For example, if someone were to provide 100% of the liquidity they would receive 100% of the tokens in the pool. Liquidity provided by LGE depositors will be permanently locked

How to Participate in the Staking Pools

After the liquidity generation event, two staking pools will be opened up to the public. These pools will be the prior mentioned DEFLECT/ETH LP and DEFLECT/RFI LP pools. By providing either or LPs into the pools, you will be providing liquidity and gain the ability to earn rewards, multipliers, and bonuses.

For example, if you have 100 ETH or RFI total that you want to stake, you would buy 50 ETH or RFI worth of $DEFLCT and then add liquidity on Uniswap with the resulting ETH/$DEFLCT LP or RFI/DEFLECT LP.

Here are the steps required to participate:

1. Buy $DEFLCT tokens: here.

2. Provide Liquidity here.

3. Stake your liquidity tokens here.

DEFLECT Tokenomics

Total circulating supply (max): 500,000

Symbol: $DEFLCT

Contract address: 0x3aa5f749d4a6bcf67dac1091ceb69d1f5d86fa53

Total Fees: 2.5% (Breakdown Below)

Transaction fee: 1.5% (automatically distributed to holders) + 0.25% developer treasury fund

Token burn: 0.75% of every transaction will be used to burn $DEFLCT

Supply distribution:

DEFLECT/ETH LP yield farm rewards emission of 50,000 $DEFLCT (10%) for 8 weeks

DEFLECT/RFI LP yield farm rewards emission of 50,000 $DEFLCT (10%) for 8 weeks

RFI/ETH LP yield farm rewards emission of 25,000 $DEFLCT (5%) for 6 weeks

Pools have 1.5% withdrawal fee.

Starting liquidity to pair to the total ETH raised from LGE: 300,000 $DEFLCT

Liquidity Generation Event bonuses to participants of the LGE: 50,000 $DEFLCT (10%)

Developer Fund: 5% (25,000 $DEFLCT)

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