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Un-Renounced Contract Ownership

Having ownership of the contract is vital to long term success
The Team keeping ownership of the token contract is a necessity for long term growth. It's also not necessarily as dangerous as a lot of people think, if they understand what access is granted via the token contract itself. Below are the biggest concerns you should have when a contract is held by the team, we have taken the necessary precautions to protect from worst case scenarios and concerns.
  • No Mint Function
  • No Manual Withdrawal Function of any Stored BNB from the Buyback and Burn
  • Maximum Tax Limits on all Variables
  • Contract Owned By Eric's (Doxxed) Wallet with Access given to Alan

Reasons to have Contract Ownership

Control Buyback and Burn Function

The Buyback and Burn feature will be set to automatic by default. However if the community and Team agrees to changing this to Manual leading up to a milestone, we will need to change it manual via the contract.

CEX Listings

With a renounced contract, you give up the ability to list on major CEX's. A CEX needs tax-free transactions on and off the chain, otherwise you'd have to eat those charges or not be listed at all. We plan on increasing the use case of LOF consistently and listing on major CEX's is part of that vision.

Adjusting Taxes as Needed

Every Tax is a variable in the contract we can adjust lower as needed. We have no intentions of EVER raising taxes higher then the original 6% buy and 15% sell. As we grow we can retain the ability to lower taxes dramatically to remain competitive.

Maintaining Content Creator Tax List

Content Creators will be added to their own taxing group within our contract to better suit their interests. We have the ability to add and remove content creator wallets from the group as they come into our LOF Family as well as if they decide to leave.

Security Measures

Thieves and hackers are becoming more skilled and constantly finding ways to steal money from hard-working people who trust everything on-chain is perfectly secure. Many large and well known projects with months or even YEARS of secure transactions fall victim to new advancements in flash loan/vulnerability attacks. See Rekt News for references. In the case of something like this happening on EverRise(where part of our contract was parsed from), we may need to pause trading in order to protect us from vulnerabilities found on the flagship contract. Immediately after vulnerabilities are secured trading would resume. This is something we hope to NEVER have to use, but its an additional benefit to ownership of the contract being within reach instead of renounced in the burn wallet.
We can also add wallets that have stolen tokens to a blacklist within the contract, preventing those tokens from being transferred or sold. Essentially we can freeze the assets where they are and prevent the bad actor from benefitting from their nefarious act.