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SHARK CAKE ($SHARKCAKE)
The SHARK CAKE Whitepaper aims to educate readers on our vision, strategy and roadmap. Below we illustrate in detail our unique redistribution mechanism.It’s an engineering achievement unheard of until now in the BSC ecosystem. We are happy to be the pioneers and are excited to showcase the new use cases that this will enable. Safemoon was the one to bring awareness around RFI and HODL rewards. SHARK CAKE will carry the innovation torch forward. We will share our vision with the world: the first auto-claim CAKE reward mechanism.

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SHARK CAKE in a nutshell

SHARK CAKE is the next evolution of a yield-generating contract on the Binance Smart Chain (BSC): you get rewarded in CAKE instead of tokens.The token contract employs a static rewards system—15% of every transaction is split in two:
– 8.5% CAKE is redistributed to holders
– 2% add to Liquidity
– 4.5% CAKE is allocated to the Buy back / Marketing wallet.

Classic redistribution

This is a concept that was popularized by Safemoon. The mechanism incentivizes token holders to hold in order to earn dividends from the transactions (buys and sells). Redistribution is based on percentage (in the contract), current token balance and number of holders.TL; DR: You receive more tokens automatically.

SHARK CAKE redistribution

We created a unique system that auto-claims for every single holder the amount due. We call it the SHARK CAKE PROTOCOL.
The way it works for holders: You buy tokens and hold them, every 60 minutes you’ll automatically receive CAKE in your wallet. Not a single action is required.
Your SHARK CAKE tokens amount is persistent and won’t change.

Behind the scenes

The contract keeps track in an array of all token holders
– The contract keeps an index into the array for processing
– Every transaction processes a certain number of users, depending on the transaction size (bigger token transfers can process more, since the gas will still be proportionally less than the value of the tokens)
– The token is based on a Dividend-Paying Token Standard, which means all CAKE the contract gains will be split equally proportionally to the token holders.
– When a user is processed, the contract checks how many withdrawable dividends they have, and if it is above the minimum threshold for auto-claims, will either automatically claim those dividends for CAKE, or automatically buy back tokens for them.
This system is fully automated and doesn’t add minimal gas fees proportional to value transferred. The number of holders processed through each transaction is dynamic and based on transaction size. Holders will receive dividends from the queue based on their position in the array. It’s a fair system, fully automated. Minimum token balance is 200,000 SHARK CAKE tokens to receive CAKE distributions.

DEX public listing

Following the presale, SHARK CAKE tokens will become available for purchase on PancakeSwap Exchange.
Token Information (provisional)
Network: Binance Smart Chain (BEP-20)
Ticker: SHARK CAKE
Contract address: Update later…!
Decimals: 18


FAIR LAUNCH

Following the presale, SHARK CAKE tokens will become available for purchase on PancakeSwap Exchange.
Token Information (provisional)
Network: Binance Smart Chain (BEP-20)
Ticker: SHARK CAKE
Contract address: Update later…!
Decimals: 18
After Private and Presale events, SHARKCAKE tokens will be available for the general public once we launch on PancakeSwap and other DEX’es.


Security of SHARK CAKE

Locked Liquidity
Initial liquidity will be locked for a minimum of 12 months to provide holders with peace of mind that the token can always be exchanged. A trusted 3rd party, DXSALE, will operate as the middle man to ensure that all raised liquidity is locked in a secure locker for the full timeframe.


Contract Audit Prior to Launch

In an effort to increase transparency and ensure security, the team has purchased a top-tier audit with HASHEX. We’ll be able to ensure no vulnerabilities can be found such as:

– Integer Overflow
– Integer Underflow
– Callstack Depth Attack
– Timestamp Dependency
– Parity Multisig Bug
– Transaction-Ordering Dependency

The token contract is verified and available for viewing on BSCscan.


Other features

Anti-Dump Logic
Price protection features such as max tx on sells are included. Any transaction selling more than 0.2% of total supply will be rejected. This prevents massive one time sells that drastically alter the token price.
Extra 1% Sell fee
Swing trading is a common practice that can affect price action. To incentivize holding and reducing pump/dump dynamics, we added an extra 1% sell fee on top of the initial 15% transaction fee.