🚩NOX Transfer Tax
Last updated
Last updated
Whenever NOX is transferred between non-exempt wallets, a 5% transfer tax is applied. Equinox automatically receives this 5% in NOX tokens.
The collected NOX tokens from the transfer tax accumulate in the NOX Tax Wallet associated with the NOX token contract.
Periodically, all NOX tokens in the NOX Tax Wallet are exchanged to ETH. The exchange rate between ETH and NOX is determined by the average price in liquidity pools on decentralized and centralised exchanges.
The primary source of ETH for the NOX exchange is the NOX Buyback Wallet, containing the platform's profits intended for conversion to NOX. If the NOX Buyback Wallet lacks sufficient funds to exchange the total amount of NOX tokens in the NOX Tax Wallet, the remaining NOX is sold for ETH on DEX liquidity pools or used otherwise within the ecosystem. This is done using a staggered sell approach over the length of the cycle period. All ETH/USDT obtained from converting NOX is sent to the Equinox General Wallet.
