Eukelades (EUK) is a business and entertainment, community token with an automatic liquidity pool algorithm, and automated token buyback with burn. The supply is mathematically guaranteed to increase in price until it reaches a ceiling of 1,300,000 USD per token. EUK makes use of an elastic supply mechanism to dynamically adjust supply to meet an increasing price peg. Providing the token pre-sale supply sells out the peg begins at $0.0000000003 and increases by b = 9.90% every 9 hours until it reaches the ceiling. The network collects a per transaction tax of 9.90% and splits this tax between liquidity provision, token buyback with burning, and a marketing provision.





Rebasing a currency itself is considered symbolic as it does not have any impact on a currency’s exchange rate in relation to other currencies. It may, however, have a psychological impact on the population by suggesting that a period of hyperinflation is over, and remove the reminder of how much inflation has impacted them. The reduction in the number of zeros also improves the image of the currency. In contrast, EUK uses rebases not to influence geopolitics but to float up in price, business-free, at a minimum rate of b = 9.90% every nine hours.

EUK is unique in its mechanism with no other token on the market operating on the exact same protocol. The contract mathematically guarantees a constant minimum price increase over time before reaching a ceiling. This process is entirely automatic after the first supply-adjustment is called. All the initial liquidity will be locked until the ceiling is reached.


EUK uses an initial target price of $0.0000000009 as the peg, with its price increasing by b% every 9 hours, contracting the circulating supply when the current trading price is below the peg price. The rebasing mechanism can be called every hour to make for a more continuous price rise. After 104 days the price EUK reaches its ceiling price of 1,300,000 USD per token and then maintains a close stable peg to this value.

EUK also introduces RFI type burning and an LP acquisition fee mechanics for every trade, amounting to a total of 9.90%. 3.30% is used to buy back tokens, which are sent to a burn address and another 3.30% is added to the EUK/BNB LP. The intended goal is to minimize price movements when large wallets decide to sell their tokens in the future, which when compared to coins without an AutoLP system, leads to a reduction in significant price fluctuations away from the exponentially increasing price floor. This also acts as an arbitrage resistant mechanism that secures a portion of the volume of EUK as a reward for the holders.





An elastic supply (or rebase) token works in a way that the circulating supply expands or contracts due to changes in token price. This increase or decrease in supply works with a mechanism called re-basing. When a rebase occurs, the supply of the token is increased or decreased algorithmically, based on the current price of each token. In some ways, elastic supply tokens can be paralleled with stablecoins. They aim to achieve a target price, and these re-base mechanics facilitate that. However, the key difference is that rebasing tokens aim to achieve it with a changing (elastic) supply. EUK differs by having an increasing peg price and no positive rebases, making EUK a business-free upcoin.




Mathematical Description

The aim of this section is to explain how we are able set the price of EUK using rebase mechanics. We begin with the simple equation














where at the time t, mt is the market-cap of EUK, pt is price of one token and st is the total supply. By modifying the total supply using a rebase, we wish to change the price from pt before the rebase, to some new target price pt+1 afterwards. We know that at any given moment, in the absence of any trades, mt is constant. This means we may assume without loss of generality that m0 = m1. This fact can be used, along with equation 2, to give












which implies that to reach our target price pt+1, we must set the new total supply to be













Price Targeting

We set target prices based on a peg price, in USD. Starting from the initial peg pˆ0, we increase the peg by 9.90% every 9 hours. This means the peg price can be expressed as

where n is an 9 hour rebasing horizon. Since EUK allows for rebasing every hour, to ensure a more continuous price rise, we can solve the equation










to obtain a value x ≈ 1.01054416 for the hourly growth rate.



Transaction Tax

On top of the rebasing mechanics described above, EUK also employs three extra features to reward holders. A transaction tax of 9.90% is taken from each trade and split across LP acquisition, token buyback and marketing provision. Note that three quarters of this fee will be sold into BNB to facilitate adding liquidity. The first is LP acquisition, which takes a 3.30% on the fee from every trade and adds it to the EUK/BNB liquidity pool. The second feature is automatic token buy back and burn, which takes 3.30% from each trade, buys the tokens back from the open market and sends them to the burn address. The third feature is a marketing provision, which takes 3.30% on the fee and sends it to the EUK community marketing wallet. These features have been included firstly to ensure a deep liquidity pool, acting to stabilize EUK’s price and put in place a solid price floor, secondly to reward EUK holders by reducing the circulating supply and statically increasing their own tokens’ value, and thirdly to help enhance and grow the EUK community via a healthy marketing budget.




Protocol Parameters

exchangeRate → TWAP(EUK/BNB) / TWAP(BNB/BUSD) = (EUK/BUSD)

bFactor → The price peg increase rate bFactor =1.01054416

rebaseHorizon → Set to be one hour

targetRate → targetRate × bFactorʳᵉᵇᵃˢᵉᴴᵒʳᶦᶻᵒⁿ

rebaseCooldown → More than this much time must pass between rebase operations

lastRebaseTimestamp → Block timestamp of last rebase operation in seconds

transactionTax → The transaction tax rate to be added to LP transactionTax = 0.0990

liquidityDivisor → The proportion of the transaction tax added to the LP liquidityDivisor = 3.3

buybackDivisor → The proportion of the transaction tax used to buyback and burn tokens buybackDivisor = 3.3

marketingDivisor → The proportion of the transaction tax sent to the marketing wallet marketingDivisor = 3.3




Price Oracle

A price oracle is any tool used to view price information about a given asset. When you look at stock prices on your phone, you are using your phone as a price oracle. Similarly, the app on your phone relies on devices to retrieve price information — likely several, which are aggregated and then displayed to you, the end-user. These are price oracles as well. When building smart contracts that integrate with DeFi protocols, developers will inevitably run into the price oracle problem. What is the best way to retrieve the price of a given asset on-chain? Many oracle designs on Binance Smart Chain have been implemented on an ad-hoc basis, with varying degrees of decentralization and security. Because of this, the ecosystem has witnessed numerous high-profile hacks where the oracle implementation is the primary attack vector. A Time-Weighted Average Price (TWAP) is used to mitigate common attack vectors Pancake V2 enables developers to build highly decentralized and manipulation-resistant on-chain price oracles, which serve the purpose of trust lessly providing pricing data to the protocol.







































EUK → ERC20/BEP20 token code, re-basing mechanism, and AutoLP implementation

Master → Triggers EUK re-bases, re-basing helpers, keeps track of protocol parameters, updates market-price TWAP, and consumes market oracles

MarketOracle → Retrieves the current market price of EUK/BUSD and maintains TWAP

Crowdsale → The contract that manages the public pre-sale

TokenTimelock → The contract that locks the liquidity until the ceiling is reached





EUKELADES (EUK) is a business-free upcoin that will continuously rise in price, uncorrelated to the crypto market as a whole. Implemented in the token is a 9.90% transaction tax for LP acquisition, token buyback with burning and marketing provision. Just over 100 days after launch EUK will reach its ceiling price of 21,000,000 USD. The question is then posed whether EUK’s inherent value will inherit its price action. Whether this happens or not depends purely on speculative forces and market psychology. We can assume that there may be some correlation to the pegged price returns, although as with any speculative asset it cannot be known ahead of time.

Pt  =    
Pt + 1  St + 1 = PtSt
St + 1 =                 St
                   Pt - 1
21 DAYS.png
x    = 1.099
Pn = Po  (0.990)