The Cronosphere team aims to create a token that will eventually become the best automatic liquidity, reflection and burn protocol on the Cronos chain.
Cronosphere — the main burn, reflection and liquidity token on the Cronos chain. The sender is subject to a 16% tax on each transaction.
These 16% are broken down into 4 parts:
| 8% reflection | Reflections - taxes, paid to every SPHERE owner. During high volumes, this can significantly increase the position of the holders. |
| 4% liquidity | To help to support prices and reduce volatility, a 4% tax is applied to create liquidity and improve floor prices. |
| 3% burning | Each transaction gradually reduces the supply. Ultimately, this creates scarcity and increases the value of SPHERE. |
| 1% development tax | To support the team and cover any development or marketing costs, a 1% tax is applied to support the development of the protocol. |
With this mechanic, Cronosphere is well positioned to increase in value and scarcity over time, bringing tremendous value to holders. The $SPHERE token represents the Cronosphere project. This is a CRC-20 token, deployed on the Cronos blockchain, an EVM compatible chain, running in parallel with the crypto.org chain. During the token generation event, only 1 million $SPHERE is created, and the amount of working capital will always decrease with each transaction made. The level of deflation varies, depending on the volume and size of transactions.