🔥Buy & Burn

Legacy's Buy & Burn mechanism takes 21% of total ETH fees generated by the protocol through creating builders and uses those funds to buy Legacy on Uniswap v3 WETH/LEGACY pool and then automatically burns those tokens removing them from the circulation.

The idea of Buy & Burn in Legacy was to replicate the amount of lost Bitcoins. It is said that around 13 - 35% of all Bitcoin tokens are gone through lost keys, thrown out hard drives as well as the ≈5% of Bitcoins that Satoshi Nakamoto owns. The estimations are quite inaccurate, some sources say it is 13%, some say it is closer to 25%. Legacy chose 21% for that matter. Setting 21% of all Legacy tokens that will ever be created for Buy & Burn should help create a squeeze in the supply of Legacy supporting the price appreciation long-term.

10% of total ETH fees generated by Legacy protocol are sent to TitanX's Buy&Burn.

Smart Contract Methods User Incentive Fee:

Protocol Participants get an incentive fee of 0.66% ETH from collected fees for calling the Redistribute Paydays + B&B smart contract function which distributes the ETH between paydays for stakers and buy and burn.

Similar incentive fee reward of 0.66% is granted for triggering Buy & Burn function thats buys Legacy from the open market via Uniswap v3 WETH/LEGACY pool and burns all the amount of purchased Legacy tokens.

Both actions can be done in Legacy dApp.