First, lets address what Token Reflections are!
This function automatically distributes a portion of the transaction fee from every transaction back to the holder wallets within the project. So your wallet token holdings increase in quantity over time with every transaction on the network.
We chose not to opt for a reflection function to our tokenomics for multiple reasons. Firstly, we want to prevent exorbitant transaction fees. We feel 8% was suitable for this project. Many have 10-12% transaction fees to feed this additional “reflection” function!
Second, we chose to increase the burn rate instead which fundamentally does the same function of increasing the value of every holder’s wallet with every network transaction. This is the magic of autonomous deflation at work! As time progresses, holding Official Tokens becomes more valuable!
Third, and one of the most important reasons most tend to overlook is that this also lowers the concern for token investors in what we like to refer as “Whale Milking”. Whale milking simply allows an entity who holds a large quantity of tokens (often called a whale) to continuously “milk” the liquidity by selling the large reflections they receive consistently, and never actually decreasing the amount of tokens they hold in the long term. By eliminating the reflection functionality these whales aren’t receiving billions or trillions of tokens every day that they can sell, slowly milking the liquidity.
Lastly, adding reflection functionality is a difficult, sometimes impossible, and painstaking process for exchanges to implement. So this helps make the eventual adoption of OfficialToken on exchanges simple.