Some of you may be wondering how Play to Burn (P2B) works.
Play to burn is a very unique game that is available on the CEEZEE Tank platform. It is an additional feature that allows users to interact + freely trigger the buyback and burn mechanics that many tokens implement per transaction (Or some.. manually).
It costs 5 BUSD (or $SAFU and $Tank equivalent) to play.
There is a random number generator from 1–1000 that triggers different amounts of buy back. Based on the number, you get placed within 6 different tiers.
To maintain the transparency and integrity of the game, Play to Burn is using the Verifiable Random Function (VRF) [Read more here]. By using the VRF service, we are insuring that this game is tamper-proof!
The use of this service will incur a 1 BUSD fee that will be taken from the winnings. It is important to note here that this 1BUSD does not impact your 10% winning allocation, but from the buyback BUSD.
You can see that chart below:
How is this a lottery?
The lottery rewards you in two ways:
- Buy back and burn supply, which increases the price of your bag and adds liquidity
- You win 10% of the winning amount (Check the chart on top)
While many tokens may add liquidity or have an auto buyback function, it can 1) be easily manipulated by bots OR 2) doesn’t really give any fungible incentive for holders. With $Tank, not only will you be helping the community, you are rewarded with BUSD if you win!
What happens with the winnings?
- 45% of the funds will buy back and burn $TANK
- 45% of the funds will buy back and burn $SAFU
- 10% to the winner
So if there is 1,000,000 BUSD in the P2B Pool and I trigger the jackpot what happens?
You win 100,000 BUSD and 899,999 BUSD is used to buyback and burn the tokens. 1BUSD goes to the VRF.
Where do the funds come from?
Upon each buy and sell transaction of $Tank, there is a 10% tax.
- 5% gets converted to BUSD in gets placed in the investment pool. This is where the money comes from to fund projects on Ape Tank.
- 1% get automatically redistributed to all holders in $Tank
- 4% gets converted to BUSD and gets placed in the Play to Burn (P2B) pool.
The TL;DR version
Lottery, Buy back, and Burn = win win