Frequently Asked Questions
General Questions
What is TaxFarming?
TaxFarming is a platform that enables developers to create and deploy tokens on the Ethereum blockchain quickly and securely. The platform offers optimized contracts that reduce deployment costs and includes mechanisms to protect both creators and buyers, ensuring a fair and transparent token creation process.
How does supply clogging work?
Supply clogging is a mechanism where 20% of the token’s supply is reserved to create a financial buffer. This clogged supply is used to ensure that the creator can recover their initial liquidity if the token does not perform as expected. It also helps to maintain a fair pricing structure for buyers during the token's launch.
Why choose TaxFarming over other token creation platforms?
TaxFarming offers several unique advantages that make it a superior choice for token creators. First, the platform allows creators to be paid directly through the clog mechanism without needing to dump team tokens, which helps maintain the token's value and stability. Additionally, TaxFarming reduces the risks associated with liquidity provisioning during the token creation process, ensuring that creators are protected from potential financial losses.
The cost of deploying a token on TaxFarming is also significantly lower—50% less than standard platforms—thanks to our optimized contracts. These combined benefits incentivize token creators to choose TaxFarming, as it offers a secure, cost-effective, and profitable environment for launching new tokens.
What security guarantees does TaxFarming offer?
TaxFarming offers several security guarantees, including protection against financial losses for creators through the supply clogging mechanism and liquidity recovery. For buyers, the platform prevents common risks such as sniping and bundling, ensuring a secure and fair investment environment. The platform's smart contracts are also designed to prevent malicious activities, such as honeypots and rugpulls.
Token Creation
What are the fees for creating a token?
The fees for creating a token on TaxFarming are significantly lower than on standard platforms, thanks to our optimized contracts. Specifically, the deployment cost is 50% cheaper. However, the exact fees also depend on the current gas prices and gwei on the Ethereum blockchain, which can vary based on network usage. It's important to check the gas fees at the time of deployment to get an accurate estimate of the total cost.
How can I recover my liquidity if the token fails?
If a token does not generate enough fees within 24 hours to cover the initial liquidity (1 ETH), the token creator has the option to manually withdraw the clogged liquidity. This can be done by clicking the designated button available on our website. Once activated, the platform will return the liquidity to the creator’s wallet, ensuring that they are not left with financial losses.
How long does the token creation process take?
The token creation process on TaxFarming is designed to be quick and efficient. Once you’ve completed the necessary steps, your token can be deployed on the Ethereum blockchain within seconds, allowing you to start trading almost immediately.
What are the steps to deploy a token on TaxFarming?
Deploying a token on TaxFarming involves a few simple steps:
Choose a name and ticker for your token.
Upload an image or logo for your token.
Optionally, add a description and social media links.
Deploy the token using our optimized contracts.
Begin trading your token on Uniswap
$FARM Token Functionality
How does ETH redistribution work for $FARM stakers?
ETH redistribution for $FARM holders occurs through a manual claim process on our platform. Holders can claim their share of the redistributed ETH by clicking the "claim" button available on the platform. This process ensures that holders receive their earned rewards in a straightforward and user-friendly manner.
What are the benefits of staking my $FARM?
Staking your $FARM tokens offers several benefits, including earning a share of the platform’s revenue through ETH redistribution. Stakers also contribute to the stability and security of the platform, helping to maintain a strong and engaged community. Additionally, staking provides an opportunity to participate in the long-term success of TaxFarming.
How can I start staking my $FARM?
To start staking your $FARM tokens, you need to hold a certain amount of $FARM in your wallet. Once you meet the staking requirements, you can stake your tokens through the platform's staking interface. From there, you will begin earning your share of the redistributed ETH as part of the platform’s revenue-sharing model.
What percentage of revenue is redistributed to $FARM holders and stakers?
10% of the fees generated by the platform are redistributed to $FARM holders and stakers in the form of ETH. This distribution ensures that those who actively participate in the ecosystem are rewarded for their contribution, aligning incentives across the platform.
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