Iteration Syndicate

We intend to use this release as a way to test one of Renascent’s core concepts in prod. Iteration’s token will have minimal functions, however these functions will be key within Renascent’s future ecosystem, allowing for many innovative and unique Volume Creation techniques.

Iteration’s KEY mechanic ensures that it’s uniswap price is constantly changing in value. This is done by temporarily removing a portion of liquidity from the ITS/ETH pair, market buying ITS with the ETH, then burning the entirety of the remaining ITS. Essentially rebalancing the Uniswap ITS/ETH pair and altering the value of ITS in relation to ETH.

This token is designed specifically to be integrated into Renascent’s ecosystem.

The Iteration token is extremely simple and only has two functions.

1% added to liquidity on sells, buys and txn’s
~ This allows us to constantly have liquidity to execute Function Two

LP Rewards
~ Each time function two is called, all ITS from function one is distributed to LP providers.
~ All you need to do to get these rewards is provide liquidity.

Once RenaSwap is released
All tax goes to an address to later be added to ITS/rETH in RenaSwap

Liquidity Buy and Burn

Function becomes available once an hour and can be called by anyone.
Caller of the function will receive 4% of the ITS for incentive to spend Gas.

When function is called:
~ 2% of liquidity is removed
~ the liquidity is then split into ETH and ITS
~ ETH market buys ITS
~ 96% of the ITS is then burned
~ 4% of ITS sent to caller of the function (to incentivize user spending gas)