This article was first posted on this site.
We are proud to introduce you to a new feature we created recently: the PantherLocker.
Automatic Liquidity Acquisition
The story begins with the automatic liquidity acquisition function in the PantherToken contract. What’s it? As mentioned in our docs, there is a 5% transfer tax on each transaction of the PANTHER token, the 4% transfer tax will be added to the PANTHER-BNB liquidity pool through the contract automatically.
For example, when you send 1,000 PANTHER to others, 50 PANTHER will be charged as a transfer tax.
- The 10 PANTHER will be burned directly.
- The rest 40 PANTHER will be split to 50/50, half will be swapped to BNB on AMM exchange automatically, and these BNB and PANTHER will be added to the PANTHER-BNB liquidity pool.
But before we release our AMM exchange, automatic liquidity was added to PancakeSwap’s PANTHER-BNB liquidity pool and we received CAKE-LP tokens.
According to our plan, the PANTHER-BNB liquidity in PancakeSwap will be migrated to PantherSwap once we release our AMM exchange. That’s the reason why this PANTHER-BNB liquidity in PancakeSwap hasn’t been locked since the project launch.
Please note that the liquidity we mentioned above has no relationship with the liquidity of PantherSwap AMM exchange and the TVL of PantherSwap’s yield farm.
But after our AMM exchange release, more than 75% of PANTHER liquidity has been migrated from PancakeSwap to PantherSwap by users. There is only about 21.8M PANTHER liquidity left in PancakeSwap, the biggest holder of which is the operator of PantherToken contract. (The operator wallet is held by the dev team.)
After two days of discussion, we finally decided not to migrate this 16M liquidity from PancakeSwap to PantherSwap. Because if we migrate this liquidity from PancakeSwap, the PANTHER liquidity in PancakeSwap will become few. Decreased liquidity will reduce the supporting effect on the price of PANTHER. After all, all charts(Poocoin, DexTool, etc) and listing site(CMC and CG) are tracking PANTHER price from PancakeSwap, not PantherSwap.
After we decided not to migrate the automatic liquidity in PancakeSwap, what we urgently need to do is to lock this huge money(~16M). Yes, we’re on it.
Yesterday, we tried several liquidity locker services. For example, unicrypt, charged 1BNB and 1% of the liquidity as a locking fee. Simple math, we need to pay 0.16M USD for the locking. But the real problem is that after they receive the locking fee, they will break the LP tokens and receive BNB and PANTHER, do you think they will hold PANTHER or sell? To make matters worse, in the future, we will have more liquidity to lock.
So we developed and deployed a simple locker contract named PantherLocker by ourselves. Yes, we’re good at it.
The contract has been verified on BSCScan. It’s a contract that only allows the owner to withdraw the tokens which were sent to this contract. And the owner of PantherLocker has already been transferred to our Timelock contract once it deployed.
All liquidity added by the automatic liquidity acquisition function will be sent to PantherLocker weekly.
Check the contract on BSCScan: https://bscscan.com/address/0x78cddaa1a917a177cb2624bd750a0c428f95604b#code
And ~16M liquidity has been sent to PantherLocker contract.
What’s more, we also changed the AMM router to our own AMM exchange in PantherToken contract. Now the automatic liquidity will be added to PANTHER-BNB liquidity pool in PantherSwap, not PancakeSwap anymore.
Free Token & Liquidity Locking Service
After experiencing so much I think we have a new idea. We will provide a free token & liquidity locking service in the near future for all developers and all projects include us.