πŸͺ„
Magic Yearn Documentation
  • πŸ‘‹ Welcome to Magic Yearn!
    • Offical Links and Contract Addresses
  • 🌎 Ecosystem
    • πŸͺ™ Magic Yearn Share Token (MyS)
      • πŸ“Š Tokenomics
      • πŸ”₯ Emissions & Burn
      • πŸ”¨ Utility
      • πŸ›οΈ Governance
      • πŸ–Ό Minting myINK (NFTs)
    • πŸͺ™ Magic Yearn Exchange Token (MyEx)
      • πŸ“Š Tokenomics
      • 🧰 Utility
    • πŸͺ™ Magic Yearn XXX Token (myXXX)
      • ♻️ Reflows
      • πŸ’° Transaction Fees
  • ⌨️ Wrapper (AMM)
    • πŸ’§ Adding Liquidity via a DEX
    • βœ… Minting myXXX
    • πŸ’§ Adding Liquidity via Wrapper (Zap-In)
    • πŸ”₯ Burning myXXX
  • πŸ’± Decentralized Exchange Pegging
  • πŸ’° Staking
    • 🌊 Pool Types
  • πŸ–ΌοΈ Magic Yearn NFTs
    • πŸͺ™ MyFreeINK
    • πŸͺ™ myINK
    • πŸ–ΌοΈ Mint NFTs
    • πŸ”₯ Burn NFTs
  • πŸ“‰ Fee Reduction
    • πŸ“ Summary
    • πŸ’² Zap-in Fees
    • 🫰 myXXX Transaction Fees
  • βœ… Project Benefits (Liquidity Pools & Single Staking)
    • 🌊 Liquidity Pools for Existing myXXX Tokens
    • 🌊 Liquidity Pools for Existing myXXX Tokens with MyS Rewards
    • πŸͺ™ Creating a myXXX Token
    • πŸͺ™ Creating a myXXX Token with MyS Rewards
    • πŸͺ™ Creating a myXXX Token with MyS Rewards & Customized Arbitrage Trades
  • πŸ›£οΈ Roadmap
  • β˜‘οΈ Teneo
  • 🧐Audit
  • βš–οΈLegal
    • πŸ“ TERMS AND CONDITIONS
    • πŸ“PRIVACY POLICY
    • πŸ“USER AGREEMENT
  • πŸ–₯️ Testnet Guide: Beta Version
    • 🦊 Testnet Setup (MetaMask)
    • πŸ’§ Testnet Faucet
    • πŸ’° Reduce Fees
    • πŸ”›Getting LP-Tokens
    • πŸ“ˆStaking
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  1. ⌨️ Wrapper (AMM)

πŸ”₯ Burning myXXX

Users can burn their myXXX for XXX at any time, meaning the peg will be sustained for token holders (even when DEX pools aren’t re-pegged). Burning myXXX results in a 1% fee that’s redistributed to all token holders πŸ”₯

This fee can be reduced to different amounts by carrying out the following actions:

  • Lowered to 0.5% by holding X (depending on the total supply and a variable factor set by the DAO) MyS in the same wallet

  • Lowered to 0.1% by using the fee reducer and lowering the fee of the wrapping wallet

PreviousπŸ’§ Adding Liquidity via Wrapper (Zap-In)NextπŸ’± Decentralized Exchange Pegging

Last updated 2 years ago