Token Reflections (RE:SUS)
Mythic Ore token reflections mechanism is very different than all the common reflections systems. It combines NFTs + Token holdings and distributes the reflections over time instead of instantly on every transaction. On each buy/sell 2% of all tokens are deducted and gathered to the RE:SUS (Sustainable Reflections System). This system distributes 2% of all tokens in the pot every 24 hours to the hodlers of both Mythic Ore and Mine NFTs with Token Reflections greater attribute. The distribution happens every block which is 3 seconds on the BNB Chain.
Tip: It takes around a full month for 50% of the tokens from a single transaction to be distributed to holders.
RE:SUS consists of reflection cycles. Each cycle lasts 24 hours (86,400 Seconds). On each transaction a new cycle is created, this cycle contains the tokens that are deducted from the 2% tax fee. Each new transaction updates the previous cycle and add the new amount of tokens deducted from the tax fees. On our case each cycle distributes 2% of the Tokens gathered every 86,400 Seconds. Distributed amount at given time = 2%(of Pot)*(time of cycle/max time of cycle). Lets assume that there is a 10,000,000 Mythic Ore buy, after the 2% token reflection tax, the pot will contain 10,000,000*2% = 500,000 tokens. The first cycle will begin with 2% of the 500,000 pot which is 10,000 tokens. If we want to check how many tokens will be distributed in the next 6 blocks which is 18 seconds then we gonna use the above formula. 2%*500,000*(18/86,400) ≈ 2 tokens will be distributed in the next 18 seconds. Tokens that are left in the distribution pot = 9,998 Mythic Ores. Token that have been distributed since the first buy (after 6 blocks) = 2 Mythic Ore. Now lets assume that after the 6 blocks passed there is another 10,000,000 Mythic Ore buy, and brings another 500,000 tokens from the fees. Now the new reflection pot is 500,000 - 2 (Tokens that already been distributed) + 500,000 (Tokens that came from new buy) = 999,998 Mythic Ores. The cycle will now update and begin with 2% of the 999,998 pot which is 19,999.67 tokens. If we want to check how many tokens will be distributed now in the next 6 blocks: 2%*999,998*(18/86,400) ≈ 4,16 tokens will be distributed in the next 18 seconds. Tokens that are left in the distribution pot = 19,995.51 Mythic Ores. Tokens that have been distributed since the first buy (after 12 blocks) = 6,16 Mythic Ore. RE:SUS concept was developed by Mythic Ore team to sustain healthy passive long term sustainable reflection system for users that hold Mythic Ores & Own a Mine NFT with Mythic Ore (Token Reflections) Greater Attribute. During high trading volume the pot will increase and during low volume the reflections will still happen. RE:SUS ensures that all new investors will be able to get reflections even if there is no high volume at the time. Also it gives more value to Mines NFTs with Token Reflection Greater Attribute on the long run and increase interest of users to protect their NFTs in order to maintain their rewards.
The system behind NFTs Token Reflection Greater Attribute works with a multiplier number from 0.1x up to 1x that is generated on the NFT. Contract calculates your reflections share based on tokens that you hold and sum of all Mythic Ore multipliers on your NFTs.
reflectionsShare = yourBalance * (sum of multipliers on your NFTs)
A maximum sum of multipliers for a single wallet is 3.33. If your sum is greater, reflections system will not count any redundant amount.
Lets assume that the RE:SUS contains 50.000 Mythic Ores and there will not be any more transactions during this example. 2% of this pot = 1.000 Mythic Ores and will be distributed during the next 24 hours to users that holds Mythic Ores and own any NFT/s with reflection multiplier. Lets also assume that there are only 4 token holders during this example.
=> User1 holds 10.000 tokens and does not own any NFTs. => User2 holds 1.000 tokens and owns one NFTs with 0.3x reflection multiplier. => User3 holds 500 tokens and own two NFTs with 0.25x and 0.15x reflection multipliers. => User4 holds 400 tokens and own one NFT with 0.4x and 0.85x reflection multiplier.
So we come up with the following table:
Tokens on balance
0.25 + 0.15 = 0.4
0.4 + 0.85 = 1.25
*ReflectionsShare = yourBalance * (sum of multipliers on your NFTs). Token Reflections will be based on the Reflection share amount. Total ReflectionsShares are 300 + 200 + 500 = 1000 Reflection Shares. User 1 does not own any NFT thus does not own any Reflection Share. User 2 has 300 out of 1000 reflection shares which is 30% of total reflections. User 3 has 200 out of 1000 reflection shares which is 20% of total reflections. User 4 has 500 out of 1000 reflection shares which is 50% of total reflections. Assuming that 1.000 tokens are about to be distributed as stated above, User 1 will not take any Tokens. User 2 will take 30% of 1.000 Tokens = 300 Mythic Ore tokens. User 3 will take 20% of 1.000 Tokens = 200 Mythic Ore tokens. User 4 will take 50% of 1.000 Tokens = 500 Mythic Ore tokens.
This example perfectly illustrates how you can receive more reflections by either holding more tokens, or holding more NFTs or few with better stats with Mythic Ores Token Reflection Attribute!
Take into consideration that only 500 NFTs will be available at launch, out of this 500 not all of them will have Mythic Ore Token Reflection multiplier. Even if there are 2.500 holders out there, only less than 500 holders will be eligible to token reflections, making the 2% buy/sell reflection tax much powerful for those who own Mines NFTs.