ann02. 🐣report on the wallet held by Pollo Team

Hello, Pollo family.

I have two reports for you this time.

As of March 27th, the 5% Deposit Fee that Pollo Team receives from you has not been touched yet.

The wallet where we keep the fee is: https://bscscan.com/address/0x5b0698e59a3f13c42ac76ba2af522cb683b41bec

Handling of Deposit Fees

Until the BuyBack & Burn is triggered, this fund will continue to provide liquidity (i.e. LP) and harvest PoFi.

The PoFi harvested from this wallet will be used in a positive way for the Pollo family and will not have any negative impact on the market. Don’t worry.

One example of a positive use of PoFi is Burn. However, the reason why we cannot say that all of them are burns is because we may make a mistake in our promise when we are in a situation where we can take measures that we believe are more effective than burns. Please understand this.

As for LPs, when the right time comes, we will stop providing liquidity (collect LPs) and use them for PoFi’s BuyBack & Burn as promised.

note: The breakdown of the 5% Deposit Fee is as follows (taken from the white paper)

3% BuyBack & Burn
Dev / Team Incentives 1.5
Community Fund 0.5%.

Also, as a developer mint, for every 0.5 PoFi generated, 10%, or 0.05 PoFi, is kept in the same wallet (all other yield farming also earns a similar fee, as long as certain code is not removed)

About the BNB from the Pre-sale

About 293BNB, which is a part of the proceeds from the sale of PoFi in the Pre-sale, is operated as LP.

Like the BuyBack & Burn wallet, it is a wallet that is working for the benefit of users.

All LPs and PoFi held in this wallet will be used for the following purposes

• Listing on an exchange. To be listed on an exchange, a company needs to provide a certain amount of funds or PoFi liquidity, and we recognize that listing on an exchange is essential for PoFi and Pollo to be recognized and more liquid.
• Audit application. The same application requires a certain amount of funds. We will apply to several companies in order to make trading more secure for our users. This includes certik.
• Other cost effective advertising expenses.

Again, all of this will be used for the benefit of the family. Thank you for your cooperation and peace of mind.