Mongoose Coin is a decentralized cryptocurrency backed by a community of enthusiasts. The platform promotes consistent open communication and believes that building professional success comes from trust, transparency, and community.
Mongoose Coin is an ERC-20 token on the Ethereum blockchain that aims to be an automatic liquidity-providing protocol that pays out static rewards to its holders. All transactions involving a non-excluded address are subjected to a 1% tax fee and a 12% liquidity fee on the token. Consequently, the tokens collected from tax fees are taken out of circulation, serving as a frictionless fee for redistribution that automatically benefits all token holders after each transaction.
The tokens collected from the liquidity fee are stored in the contract address and are balanced out during transfers. Further, the tokens are used to swap funds once the Uniswap liquidity reaches the threshold of 690 quintillion tokens. This liquidity added on Uniswap is funded by selling some of the tokens collected as fees and then pairing the ETH with the token, adding that as liquidity to the pair carried out using the tokens. In the contract, the pending ETH is sent to the marketing wallet once the pairing is completed.
According to the website, the token distribution in the ecosystem is as follows: 1% to REFLECTION MONGOOSE, a token that generates passive income. 6% LIQUIDITY goes directly to the liquidity pool to strengthen the project's price floor forever. The liquidity tokens are then transferred to the burn address of the project to remove the token from supply. The term burn address signifies an inaccessible wallet where tokens are sent to permanently remove them from supply to stabilize the price of the token. Further, 6% of the tokens is allocated to marketing and development after each transaction to further market the project.