Ocoin

Ocoin is a Fork of the SafeMoon token smart contract. Ocoin is a crypto currency token on the Etherium Chain. The token will get a lot of attention in the crypto currency industry.some unique characteristics of the Ocoin Token are

The Ocoin token has a total supply of 1trillion.the token price en the tokenomics of the project. As a result this

How does the SafeMoon token smart contract transfer function work

SafeMoon is an ERC20 token on the Binance Smart Chain. It works like all other ERC20 tokens but the team included some additional features in its transfer function that are unique. These features are Reflection and Liquidity Pool (LP) Acquisition.

  • Reflection – Holders earn passive rewards through static reflection as their balance of Ocoin grows
  • Liquidity Pool Acquisition – A percentage of all transfer transactions is added to the Pancake Swap Liquidity pool

Token transfers incur a 10% fee. The break down of these fees are as follows:

Reflection in the SafeMoon Fork token smart contract

5% of the fee is distributed to all token holders in proportion to their token holdings. Ocoin token balances have two different calculations. The first balance calculation is based on the traditional fixed number of tokens associated with a user’s address. The second balance calculation represents a user’s balance as a proportion of the total supply of the token.

This second calculation works similarly to how dynamic rebasing mechanisms work (example – Ampleforth token). When a taxed transaction occurs the % re-distributed to token holders is deducted from the total “proportional” supply. As a result the users percentage of the total supply increases.

Liquidity Pool Acquisition in the SafeMoon token smart contract

5% of the fee is to provide liquidity on Pancake Swap. To keep the liquidity pool balanced 2.5% is added to the BNB token and 2.5% is added to the SafeMoon token. The recipient of the LP units is the current owner of the SafeMoon contract which is a weakness in the contract.

Reflection and LP Acquisition features are to incentives one to hold the token for the long term and discourage selling. As a result, the transfer fee is to help support the price of the token.

SafeMoon token smart contract Security Audit

Certik was the smart contract security firm that audited the SafeMoon contract. The SafeMoon audit report is located on Certik’s website.