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This feature ensures continued deflation and volume
- The Inactivity Tax adds a total 30% penalty on all inactive wallets. A wallet becomes/is deemed inactive when no eligible MONSTA transaction (>5.01%) was performed within 50 calendar days. See Wallet Reset
- 15% of the Inactivity Tax is burned
- 15% is used to buy non-correlated assets (e.g. BNB) for the community-owned asset vaults
- The Inactivity Tax can be performed by anyone who sees the opportunity via the dashboard. A reward (2.5% of the inactive wallet's MONSTA balance) is minted and sent to the Diamond Claw Elite NFT reward pool
The inactivty tax function plays a critical role in preventing protocol stagnation, eliminating issues resulting for example, from lost/forgotten wallets. A core component of the original MONSTA whitepaper, the inactivity tax originated as the "Auto-cash out" function and was later optimized/updated through the course of the first cycle to become iTax. Avoid iTax penalties by performing a transaction of at least 5.01% of your MONSTA balance, or simply utilize the wallet reset function in the dAPP.