The MAXX Tax & Demand

Taxes, Taxes & More Taxes! There are two things you can’t avoid in life, death & taxes. MAXX Finance ecosystem taxes are created specifically to benefit the community that interacts with our token as a whole and here is why.

The MAXX Gamified Ecosystem

The innovative protocol behind MAXX Finance is the internal staking system. This system is gamified to create three necessary things to keep any project ticking, one is to create a demand for tokens and the second is to continue to fuel the deflationary vault which combats inflation & gives MAXX the ability to be backed by utility.

Supply Shortage — By creating stakes on the platform the user is removing supply for circulation. This immediately creates a situation that forces the price action up. The demand goes up and people start to pay more for the limited available tokens on the market.

Since the user will be able to start & end a stake willingly at any point they choose MAXX has implemented a small trade tax to encourage users to wait to create larger trades to get taxed less & penalties for those who decided to end stakes early. The ultimate goal is to keep the staking class staking to keep the supply out of circulation as long as possible. So the longer you stake the more MAXX tokens you earn and the fewer penalties & taxes you pay to the point where you may not be taxed at all!

Taxes — There will be buy/sell taxes that will scale down as the users trading volume grows — If you are trading low volume you will be forced to pay up to 2.5% per transaction but this dynamic tax system will encourage larger transactions which may encourage users to wait for multiple stakes to mature before selling.
EX. If you trade 500–5000 = 2.5%
5000–10000 =drops to 1.5%
10,000–50000 = Drops to 1%
50K+ = TAX FREE
(Subject To Change)

Penalties — Since MAXX is a completely decentralized system the user will always decide when to start a stake or end a stake even if this means ending a stake early. Since the user will be withdrawing early there will be a penalty that will be dynamic based on how early the stake will be canceled.
EX. If you end your stake early, you will be penalized a proportionate amount of the Principal + Interest
End at 80% of stake term, penalized 20%
End at 70% of stake term, penalized 30%

We believe this is the best approach to ensure larger liquidity and encourage users to stake for longer while waiting full term without having to jump in and out of the stakes causing disruption to the supply. This will ensure positive price appreciation. Ultimately these taxes & penalties are being sent back into the ecosystem which will fuel the MAXXVault which will grow this project to be the biggest self-sustained staking project ever created.

-Written by fib | MAXX Finance

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