WHAT IS KAREN COIN?
Karen Coin is a deflationary defi token that takes a 8% fee from each transaction made with the token then generates 4% liquidity and 4% reward distributed to holders. The more you hold the more you earn! The purpose of this is to incentivise investors for holding and punish whales (Large market manipulators). 50% of the total supply of coins was burnt prior to launch.
Our main focus with Karen Coin is to create absolute transparency and generate full clarity for investors to know that what they are trading is safe and secure.
The team behind Karen Coin ensure that everyone enters Karen Coin with equal opportunity by initiating a fair launch, meaning that there are no allocated coins to developers and the team is to buy in at the same time as the rest of the community.
Karen Coin was fair launched on PancakeSwap. We also then relinquished all control of the Karen Coin contract to a dead address. As a result, no single person or entity has control of the contract making it decentralised and 100% community driven with no backdoors or hidden ownership as it is impossible to access the contract through a dead address. This then puts the ownership and growth of the token into the hands of the community.
In regards to the liquidity pool, we burnt the LP tokens at the beginning by sending them to a burn address, not locking it like most people do.
We are engaging with multiple audit companies to become certified and allow everyone to see the safety in the Karen Coin contract. We have already obtained our first audit through Dessert Finance.
Karen Coin employs an automatic liquidity pool algorithm within the contract which collects 4% from each transaction no matter whether the order is to buy or sell and adds it to the LP. The goal is to minimize price movements when larger wallet holders decide to sell their tokens at any point in time.
Having the Auto LP algorithm in place helps reduce significant price fluctuations when compared to coins without it. Theoretically the added LP creates stability from the supplied LP by adding the tax to the overall liquidity of the token, increasing the tokens overall LP and supporting the price floor of the token.
The purpose of the automated burn is to slowly reduce the amount of Karen Coin circulating over time. As the burn wallet is also a token holder it will continue to accumulate a percentage of the 4% re-distribution after each transaction.
Given this is a dead address that no one can access, the percentage of tokens added with every transaction are essentially burnt, lowering the total circulating supply of Karen Coin which increases demand. This is designed in such a way that it will deflate at a safe rate and remove all possible dangers from the community and incentivise growth.
FAIR LAUNCH PROTOCOL AND TRANSPARENCY
The fact that we burn the LP tokens means that a rug pool by the dev team is completely impossible. Unlike many others who employ a similar system, the Karen Coin LP can never be accessed even after the lock period expires as the smart contract was renounced upon launch and sent to a dead address. This creates a stable trading floor and ensures the PancakeSwap market will always have liquidity on it.