We’re like OLDCOIN, except we’re actually safe.
Before we begin, let us be clear: we do not offer investment advice. As always, do your own research. Read our audit documents to assess risks and consult other sources.
What is OLDCOIN?
OLDCOIN is an audited, vetted, and trusted RFI static reward token that benefits investors who hold. 10% trade fees provide a combination of rewards to token holders and liquidity, which increases OLDCOIN’s price floor.
In contrast with typical yield farming rewards, OLDCOIN’s static rewards depend on the volume of trading. This reduces sell pressure from early adopters who trade their coins. Why? Because as a holder, you are rewarded every time another investor sells OLDCOIN.
Continuing to hold OLDCOIN will earn you higher rewards, which are based on the total tokens you hold and the percentage of tokens that others sell.
Why We Created OLDCOIN
We’ll cut straight to the point. You might be familiar with the project “OLDCOIN Protocol,” which claimed to create a price floor by locking staked tokens in a liquidity pool that was inaccessible by their team. Well, it turned out that the devs owned and could access the wallet that stores these pairs. This means that the team at OLDCOIN Protocol could destroy their coin’s value at any moment. Not very safe, is it?
This is reflective of a larger problem in the crypto space and the BSC space in particular. Trust is a valuable commodity, arguably more valuable than any single coin or project. A trustworthy project will attract ethical investors, who in turn will support the project’s growth.
We decided to build OLDCOIN because we’re tired of spending hours vetting investment opportunities only to find that the vast majority are not safe investments. We founded OLDCOIN with one goal in mind: to forge a definitive roadmap for proving that a project is trustworthy.
Automation
The most vulnerable portions of OLDCOIN are automated. “Vulnerable,” in our case, means open to manipulation. By relying on automation that cannot be altered post-launch until a much later date, we set out to assure investors that the project is safe.
Crucially, OLDCOIN’s fee percentages are timelocked and cannot be altered by anyone without allowing investors time to see and review any changes. This prevents unethical behaviors we’ve seen many times in the past, such as abruptly changing the fees to unfairly reward devs.
When OLDCOIN is bought and sold, a 5% fee is removed with each transaction and redistributed to existing OLDCOIN holders. Those who decide to hold their OLDCOIN are rewarded over those who sell, while arbitrage traders are discouraged from exploiting the platform. Unlike investors in a traditional yield farm, OLDCOIN investors need take no action to collect additional OLDCOIN. All investors need to do is hold.
An additional 5% fee is taken for each transaction, half of which buys BNB. This BNB is combined with the remaining half to stake a OLDCOIN-BNB liquidity pair on Pancake Swap. Think of this automated mechanism as the keel of a sailboat, which provides stability in rough seas. The rough seas in this case would be volatile traders, while the keel is the increased liquidity that results from this fee. By growing a stable liquidity pool with each transaction, the overall stability of OLDCOIN should actually become more resistant to manipulation over time — even if volatile traders engage with the system.
The tokens that are in the liquidity pool are not accessible, not even by the team’s developers. They live in a wallet that has no owner. Whenever new transactions occur, the coins are sent into this inaccessible wallet. This completely eliminates any worry that the guaranteed liquidity can be removed.
Audited
An audit’s importance cannot be overstated. Over the years, we’ve learned that a thoroughly-audited project is far less likely to behave unexpectedly in ways that harm investors than one that has not been reviewed. This might sound like an obvious statement, but a surprising number of projects are not audited, or are not audited by trusted entities.
What is an audit? An audit is essentially a review of the project’s code by an expert or experts. Auditing firms employ individuals with explicit experience around the types of projects they are reviewing. If the expert catches an error in the code — whether intentional or not — he or she reports it to the developer. The developer can make the suggested changes or not. If not, a red flag will be added. If the changes are made, the audit history will reflect the error as well as the correction.
The reality is that not every investor can read Solidity code. An audit makes reading the actual code unnecessary because the code is reviewed and commented on by an expert. The OLDCOIN contract is heavily audited by experts employed by members of BSC’s most active Telegram channel, BSC Gemz. In fact, it is the first RFI project on BSC to pass this level of scrutiny, and we are committed to maintaining a clear audit trail as the project progresses.
Their trusted auditors look for 3 things:
1. Errors in the code that could lead to security vulnerabilities.
2. Whether the code reflects the stated intentions of the developer. For example, if the developer claims that a 5% fee is redistributed to token holders, does the code reflect this reality?
3. Is the code efficient? Can it be improved to lower gas prices and other overhead that would slow down trading?
Manual Burning of Dev Tokens
One place where we thought it wise to retain manual control is in the burning of the dev portion of tokens, at least in the months following launch. Burning dev tokens will increase OLDCOIN’s value for existing holders by limiting the supply of tokens. This is common practice across most tokens.
We want to tie burn events to milestones we discuss with the community. For example, we may initiate a burn after the first thousand investors. By remaining flexible in this area, we can incentivize rapid growth, which will benefit all investors in the OLDCOIN token. Visit our site below for a full list of milestones (more coming in the future):
Website https://oldtoken.shop
Telegram https://t.me/OldCoinV1
YouTube
https://www.youtube.com/channel/UC0kUg_-h_rTxGIqncCecgGA
Twitter https://twitter.com/OldCoinHQ
