# BtcSnacks

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BTCSNACKS is a bond token for BTC. It is working as a yield curve token.
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* **Ticker:** BTCSNACKS
* **Contract Address:** [https://testnet.bscscan.com/address/0x3721783B82f50cA9ed77d65117930066c57C1cFD](https://testnet.bscscan.com/address/0x3721783B82f50cA9ed77d65117930066c57C1cFD)
* **Chain:** BNB Smart Chain (BEP20)

## How to calculate BTCSNACKS price

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BTCSNACKS tokens are issued according to a linear bonding curve.
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It means every BTCSNACKS price will be separate and different based on current Total Supply. BTCSNACKS price is calculated by below formula.

> **Price = Total Supply x Multiplier**

Here, multiplier is 0.00000001(1/100,000,000). So for every million tokens in existence, BTCSNACKS will be 1 ETH more expensive.&#x20;

The same works in reverse. If BTCSNACKS supply is decreased by 1 million tokens, the price will also decrease by 1 BTC.&#x20;

Initial price will be 0.00000001 per BTCSNACKS and price goes up with every minting of the token. At 100,000,000 minted BTCSNACKS the price will be 1 BTC per BTCSNACKS – but as they are reclaimed / burned – the price goes down proportionately as well.

{% hint style="info" %}
Remember, BTCSNACKS is not a typical asset that has its price set by a Liquidity Pool. It can only be minted with BTC.
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## **How to trade** BTC**SNACKS**

### BTCSNACKS Buy - Minting BTCSNACKS instead of lock BTC

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Users can buy BTCSNACKS with BTC in Scads.
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BTCSNACKS bond token is minted instead of same worth BTC locked in BTCSNACKS contract.&#x20;

In other words, BTCSNACKS is the other type of locked BTC so users need to lock same worth BTC get BTCSNACKS. It is similar with exchange.



### BTCSNACKS BuyBack - Redeem BTCSNACKS to release BTC

{% hint style="info" %}
Users can buyback BTCSNACKS to get BTC in Scads.
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BTCSNACKS BuyBack is the reverse of BTCSNACK Buy to release BTC locked. It is the process to get BTC from BTCSNACKS

Please check below to discover details of how to buy/buyback BTCSNACKS

{% content-ref url="../../products/mint/btcsnacks-buy-buyback" %}
[btcsnacks-buy-buyback](../../products/mint/btcsnacks-buy-buyback)
{% endcontent-ref %}

## **How to distribute Buy/BuyBack Fee**

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5% fee in BTCSNACKS mint, 10% fee in BTCSNACKS redeem applied in Scads
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Buy/BuyBack will be provided as rewards to several parts of SCADS eco-system. Whenever buy or buyback BTCSNACKS, mint or redeem fee will be generated and distribute it soon. Fee is shared as following:

| Distributed to        | Fee Share Percentage |
| --------------------- | -------------------- |
| SCADS-BUSD Farming    | 30                   |
| BTCSNACKS Holders     | 30                   |
| SNACKS Holders        | 15                   |
| SNACKS Single Staking | 15                   |
| Seniorage Wallet      | 10                   |

### For example:

#### When user buy 5,000 BTCSNACKS

If 5,000 BTCSNACKS are minted there is a 5% tax. User will get 4,750 BTCSNACKS sent to their wallet.

The rest 250 BTCSNACKS are distributed as follows:

75 BTCSNACKS to LP Pool (SCADS -BUSD)

75 BTCSNACKS are distributed equally to all holders of BTCSNACKS (based on amount held)

37.5 BTCSNACKS are distributed equally to all holders of SNACKS (based on amount held)

37.5 BTCSNACKS to single SNACKS staking pool

25 BTCSNACKS are sent to seniorage wallet

#### When user buyback 5,000 BTCSNACKS

If 5,000 BTCSNACKS are claimed there is a 10% tax. User will only receive the converted BTC on 4,500 BTCSNACKS.

The rest 500 BTCSNACKS are distributed as follows:

150 BTCSNACKS to LP Pool (SCADS-BUSD)

150 BTCSNACKS are distributed equally to all holders of BTCSNACKS (based on amount held)

75 BTCSNACKS are distributed equally to all holders of SNACKS (based on amount held)

75 BTCSNACKS to single SNACKS staking pool

50 BTCSNACKS are sent to seniorage wallet

