Migrating to Tax Adjustable Non-Rebase Token!

Dear community members,

We hope this message finds you well. As we continue our journey with Helena V2, our mission to establish a truly deflationary platform remains steadfast, addressing the challenge of expanding supply caused by the auto-rebase mechanism.

We are pleased to inform you that the burned supply has now surpassed 45% of the total diluted supply. However, we still face several challenges related to rapid supply expansion and the tax mechanics.

One of the major issues we have observed is the continuous decline in price due to the expanding supply. It has become evident that the current rebase model cannot provide a healthy and stable price chart. Additionally, the entry barrier of a 13% tax has proven to be a significant hurdle for the protocol, discouraging new users from joining. These problems have undermined our marketing efforts.

In light of our commitment to advancing the platform and with the impending release of Auction Bonding, we propose a DAO initiative to gauge community support for migrating to the Tax Adjustable Non-Rebase Token. By initiating this migration before the Auction Bonding release, we can conduct auctions using the new token.

So, what changes can you expect with the new contract?

The auto-rebase mechanism will be replaced with an auto-reflection mechanism. Through reflection, token holders will receive a percentage of the transaction tax whenever the token is sold.

The buy tax, currently set at 13%, will be entirely removed, bringing it down to 0%.

The sell tax, currently set at 19%, will remain the same but will be distributed differently as follows:

S.Control: 1% ➡️ 5% Reflection to Holders Treasury: 7% ➡️ 5% Marketing: 7% ➡️ 5% Liquidity: 4% ➡️ 4%

Furthermore, the new token will provide adjustable taxation, enabling the community to modify the tax rates in the future, if desired.

The DAO proposal will be live for the next 36 hours.

During this voting period, each $HELENA token will grant you 1 voting power, while each $WINGS token will grant you 48 voting power. Make your voice heard and participate in shaping the future of our platform.

If the proposal successfully passes, the migration panel will be deployed immediately afterward. Users will then be able to participate in auctions using their new tokens. However, in the event that the proposal fails, users can still join auctions using their current $WINGS tokens.

We extend our gratitude to all community members for their ongoing support and engagement. We wish you the best of luck as we embark on this important decision-making process.

Thank you.