InfinityBit Exchange

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Their Official site text:

IBIT Token Whitepaper (v2)
2023-03-20
Today, several centralized exchanges are operating with no transparency. Although DEX are
growing in numbers, there will always be a need for fiat on-ramps. InfinityBit Exchange is a
CEX that intends to offer the transparency of a DEX. The InfinityBit Exchange has developers
all around the world, with the core developers and team members based in Palau, Canada, and
Italy. InfinityBit.io will be the first CEX to feature complete on-chain verifiable trade executions,
deposits, and withdrawals. This enables everyone the capability to audit the exchange at any
time. This whitepaper serves to explain the underlying smart contract of the IBIT token.
InfinityBit Token (IBIT) does not provide any ownership of the
InfinityBit Exchange, instead it acts as a token which will enable
reduced fees and other benefits on the exchange.
Tokenomics
Token Supply
● 10,000,000,000 Initial Supply
● 43% Burn
● 20% Initial Liquidity Pool (LP)
● 15% Private Sale
● 10% CEX Token Listing
● 9% Reserved LP
● 3% Partnerships
IBIT v1 was initialized with a mint of 10,000,000,000 and a hard-coded maximum supply
of 10,000,000,000. IBIT v2 was initialized with 5,700,000,000. There is no way to mint any
additional coins in the smart contract. On February 14 at 7:00 PM UTC, a private sale was
held where IBIT tokens were offered for sale at 250,000,000 IBIT = 1 ETH. The maximum
wallet during the private sale was 50,000,000 IBIT. It is worth noting that this sale was
not available to US persons.
On February 15th at approximately 7:00 PM UTC, the smart contract was deployed and all
who participated in the private sale received their purchased tokens. Next, 43% of the
supply was burned, reducing the total supply to 5,700,000,000 IBIT. A liquidity pool (LP)
was then initialized at Uniswap V2 Router with 20% of the initial supply, which is
2,000,000,000 IBIT tokens and paired with all of the ETH from the private sale.
The V1 smart contract had a built-in “Anti-Snipe” function. This function locked the IBIT
tokens of any wallet address which purchases the token before 30 blocks have passed
since the deployment. The V2 smart contract does not implement Anti-Snipe functionality.
On March 20, 2023 at approximately 10:00 AM UTC, one billion tokens were paired with 11
ETH on Uniswap V2 to match the V1 liquidity pool. All holders of the IBIT v1 smart
contract were airdropped after the V2 contract deploy. An additional 9% of the supply will
be reserved to add additional LP to the Uniswap V2 Router at an undetermined time in
the future, as determined appropriate by the core developers. Additionally, 10% of the
supply will be reserved for future CEX liquidity, including listing on the InfinityBit
exchange. Finally, 3% of the supply will be reserved for partnerships with marketing firms
and influencers.
Wallet size will be limited to a maximum of 125,000,000 IBIT, which is approximately 2.2%
of the total post-burn supply. This ensures more even distribution of IBIT amongst wallets.
The V2 smart contract contains functionality to disable the maximum wallet.
Token Taxes
InfinityBit Token (IBIT) has taxes on transfers, Decentralized Exchange (DEX) buys, and DEX
sells. These taxes will be used for marketing and development of the InfinityBit Token (IBIT)
token. Taxes are adjustable in the smart contract, but cannot exceed 5% total, as there is a
hard coded 5% maximum total tax. Taxes are automatically swapped to ETH when
swapThreshold is reached with the swap amount limited to swapLimit, these are both
limited to a maximum of 5% of the liquidity pool tokens. The LP tax will automatically add
liquidity to the liquidity pool. The contract has a built-in tax tracking functionality. The contract
address is a dead address where the total taxes collected (in tokens) can be easily viewed by
checking the contract address balance. These tokens are completely dead and not part of the
circulating supply.
3% Marketing & PR Tax
The marketing and PR tax will be used for influencer and media partnerships as well as for
funding the community management team.
1.8% Development Tax
The development tax will be used for developing an IBIT cross-chain bridge as well as future
token capabilities.
3% Marketing & PR Tax Wallet
0xd1CB9007D51FB812805d80618A97418Fd388B0C5
1.8% Development Tax Wallet
0x02DAb704810C40C87374eBD85927c3D8a9815Eb0
Marketing & PR Tax Wallet (Legacy / V1)
0xA6e18D5F6b20dFA84d7d245bb656561f1f9aff69
Development Tax Wallet (Legacy / V1)
0x9d0D8E5e651Ab7d54Af5B0F655b3978504E67E0C
Token Utility
AI-Powered Automated
Trading System
InfinityBit Exchange is developing an artificial intelligence (AI) powered
automated trading system. This system will be capable of executing automated
trades of cryptocurrency pairs on the InfinityBit Exchange. This system will be
designed to execute trades based on customizable AI-enhanced signals as set
by the user. IBIT token will provide access to the usage of this system.
Reduced Trading Fees on
InfinityBit Exchange
Reduced Trading Fees IBIT token will be accepted on the InfinityBit Exchange for
reduced trade execution fees. Maker and taker fees will be reduced by 50%
when paid using IBIT tokens. This can greatly reduce the fees paid when trading
on the exchange.
LEGAL CONSIDERATIONS,
RISKS, AND DISCLAIMER
PLEASE READ THE ENTIRETY OF THIS SECTION CAREFULLY.
THERE ARE NO IMPLIED OR EXPRESSED EXPECTATIONS OF RETURNS FROM
THIS TOKEN. PURCHASE OF THE IBIT TOKEN CARRIES CONSIDERABLE RISK,
AND PURCHASES CANNOT BE REFUNDED. THERE IS NO GUARANTEE
EXPRESSED OR IMPLIED TO THE FUNCTION OR VALUE OF IBIT TOKENS. US
PERSONS ARE NOT PERMITTED TO PARTICIPATE IN THIS PRIVATE SALE; US
PERSONS means any United States citizen or alien admitted for permanent residence
in the United States, and any corporation, partnership, or other organization organized
under the laws of the United States. IBIT TOKENS ARE NOT SECURITIES OF ANY
TYPE AND THEY DO NOT ENTITLE YOU TO ANY OWNERSHIP OF INFINITYBIT OR
ANY OTHER COMPANY OR ORGANIZATION. IBIT TOKENS ARE A MEANS TO
UTILIZE SERVICES ON A PLATFORM THAT IS NOT DEVELOPED AND THERE ARE
NO GUARANTEES EXPRESSED OR IMPLIED THAT THESE TOKENS WILL
PROVIDE SIGNIFICANT PURPOSE. BY PARTICIPATING IN THIS SALE, YOU
AGREE YOU HAVE NO RECOURSE, CLAIM, ACTION, JUDGMENT, OR REMEDY
AGAINST ANY OF THE DEVELOPERS OR TEAM WHICH ARE SELLING THIS
TOKEN. WE STRONGLY RECOMMEND YOU CONSULT FINANCIAL, LEGAL, TAX,
AND OTHER PROFESSIONAL ADVISORS FOR GUIDANCE BEFORE
PARTICIPATING IN THIS LIMITED TOKEN PRIVATE SALE. IF YOU ARE UNCERTAIN
AS TO ANYTHING IN THIS WHITE PAPER OR ARE NOT PREPARED TO LOSE ALL
MONEY YOU HAVE SPENT TO PURCHASE IBIT TOKENS, WE STRONGLY URGE
THAT YOU DO NOT PURCHASE ANY IBIT TOKENS.