Launched on October 28th, 2021, SMUG is a deflationary token akin to SAFEMOON that incentivizes long-term holding rather than small and quick investment plays. It aims to bring together fans of the brand and logo, as well as grow with the Harmony ONE ecosystem through integrating the token in various other farms and projects across the ONE chain. It is built using the HRC-20 standard.

In order to purchase the token from one of the DEXes listed, one must set their slippage at 11% (at least) to accommodate for the 10% tax being imposed on all sales and purchases. 5% tax is applied to all transactions which are distributed to fellow Smuggies just for holding their tokens. Another 5% tax are automatically added to a locked liquidity pool to generate an ever rising price floor and allow for bigger buys and sells to be made, with a lower price impact, in theory.

The tokenomics are as follows: 

- 30% of the supply is irreversibly burned and removed from circulation https://explorer.harmony.one/tx/0x2841b6fc0403bf442b92ba2ef8be1f05aba8c35187eef0b08529a1a87791d0fc

- The initial liquidity of about 2000 USD in ONE has been timelocked for 6 months, and can be checked at  https://explorer.harmony.one/address/0x03b9683c4457c98313b9627a75cd26e4913a2de0?activeTab=7

- Ownership renouncement of the contract will be put to a community vote.

- 68% of the supply has been put inside of the locked liquidity.

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