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The Buyback Function
The Phoenix is the toughest bird of all. It catches the tokens from the market at a lower price, and then burns them with its flames. A complete protection mechanism for ITH Diamond holders
The ITHD Buyback function, also known as Fenix, is funded by a 2% strategic buyback fee. The tokens collected from the fees are converted into BNB and locked and securely stored in the ITH Diamond contract. They are called strategic reserves.
These reserves then become independent of the price of ITHD. We estimate that in one year the Strategic Reserves ready to be deployed will be at least 1000 BNB ($412200USDT). The contract is encoded so that the BNB from the Phoenix's Strategic Reserves cannot be withdrawn and can only be used for the purpose of repurchasing ITHD coins on the open market and burning them.
With the buyback feature enabled, the contract automatically buys and burns tokens after each sale transaction.
Once the ITHD tokens are bought back, the new amount of BNB is added to the liquidity pool($32000 USDT of BNB) and the ITHD tokens bought are immediately burned. 1% of the circulating supply has been burnt so far.
It is a real burnout that also guarantees that the price per token will increase after each buyback.
The Phoenix is consistently implemented to allow ITHD to maintain a stable floor price during downtrends in the market,chart manipulation, and whale dumps, securing the long-term success of the project.
