Altitude's Next Utility Phase

The Altitude Project is thrilled to unveil its most impactful utility phase to date, introducing two major developments: the launch of the Altitude/USDC liquidity pool and the distribution of USDC dividends via the EVEREST Vault. This exciting evolution not only enhances earning opportunities for our community but also reinforces the long-term sustainability of the Altitude ecosystem.

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Altitude/USDC Liquidity Pool on BaseSwap:
As part of our mission to strengthen the Altitude ecosystem, we are launching the Altitude/USDC liquidity V2 pool. This new LP pool will allow Altitude holders to pair their tokens with USDC and contribute to the liquidity of the project, supporting price stability while earning BSX rewards.
BSX (BaseX) is one of BaseSwap’s primary reward tokens, offering attractive yield opportunities. 
    • Limited Supply: With a total cap of 10 million tokens, BSX is a scarce asset, as its supply is already heavily distributed—over 9.2 million tokens have been minted.
    • Deflationary Mechanisms: To date, over 384,000 BSX tokens have been burned, reducing the circulating supply even further and enhancing scarcity.
    • Yield Opportunities: BSX holders can stake their tokens on BaseSwap’s Earn Platform to receive USDBC or ETH rewards, making it a versatile and valuable reward.
As liquidity providers (LPs), holders will earn BASEX (BSX) rewards, they can then be utilized in various ways:
    • Sell BSX to realize immediate profits.
    • Stake BSX on BaseSwap’s Earn platform to generate additional rewards in USDBC or ETH, multiplying your earning potential.
• Reinvest BSX into BSX/WETH and earn BSWAP + BSX rewards.
    • Reinvest BSX back into the Altitude ecosystem, creating a virtuous cycle of growth.
With the deflationary mechanics of BSX already in play, this opportunity positions LPs to benefit from both direct rewards and the long-term growth of the ecosystem. Rewards will go live on February 2nd 2025 which is the Altitude Projects 1st birthday!

Monthly USDC Dividends Through the EVEREST Vault:
Starting 1st March, Altitude holders will enjoy monthly USDC dividends, distributed during the first week of each month via the EVEREST Vault. This program provides a reliable and sustainable revenue-sharing model for the community to supplement reflections, aligning incentives with the project’s long-term success.
How the EVEREST Vault Works:
The EVEREST Vault is funded through two primary sources:

    1. Mountain Wallet Contributions: The Mountain Wallet, acting as Altitude’s treasury, generates yield through its strategic holdings. A portion of this yield is allocated directly to the EVEREST Vault, ensuring an inflow of USDC for dividend payouts regardless of volume.
    2. Transaction Tax Allocation: As part of our updated tokenomics, a portion of the transaction tax is now redirected to the EVEREST Vault. Whenever tax fees are triggered, USDC is automatically added to the vault, providing an additional layer of sustainability for the rewards program.
By combining these funding mechanisms, the EVEREST Vault ensures that all Altitude token holders benefit from project revenues while supporting the token’s long-term growth and stability. Dividends can be claimed directly by holders (more info below), empowering them with flexibility and control over their rewards. The Vault Balance will be available on the website under a rewards section. As is the case with reflections your share is based on the % of Altitude held in wallets. Example if there are 100,000,000 tokens in wallets and you hold 2 million tokens, you share would be 2% of the vault.

Merkl Utility: A Game-Changer for Altitude:
The new Altitude utility leverages the innovative Merkl platform, which offers a cutting-edge approach to reward distribution. Unlike traditional yield farms where users must stake LP tokens or assets, Merkl tracks positions directly in your wallet, allowing holders to earn rewards without the need to stake their tokens. This convenience not only saves time but also ensures your assets remain secure in your wallet.
Merkl calculates rewards based on your share of the LP position or token holdings, with distributions occurring every epoch (approximately every 8–12 hours). These rewards—paid out in BSX and USDC—can be claimed directly from the Merkl dashboard (a “claim rewards” button will take you directly to it on our website). Altitude’s reward program on Merkl provides a simple and efficient way for users to participate without any extra complexity.
Importantly, Merkl is already used by thousands of people daily, making it an hugely active platform in DeFi. Having Altitude's reward program live on such a widely-used platform will provide valuable visibility, helping to introduce our project to new users daily and create opportunities for new community members to learn about and invest in Altitude.

Enhanced Tax Allocation for Sustainability:
Altitude’s tax structure has been optimized to support the sustainability of the rewards program while maintaining fairness for all holders. Recent adjustments will include:
    • A dedicated tax allocation for the EVEREST Vault: Ensuring that USDC dividends grow through trading volume.
    • Continued contributions to the Mountain Wallet: As the treasury and yield generator, the Mountain Wallet plays a pivotal role in funding rewards, supporting buybacks, and bolstering liquidity.
    • Sustainable Growth: By funding rewards through external inflows and yield generation, Altitude avoids excessive token emissions, preserving the token’s value over time. 

New Tax Rates:
    • Buy Tax: 4%
         Reflections: 1%, Auto Burn 1%, Tax Wallet 2%
       

    • Sell Tax: 7%
        Reflections: 2%, Auto Burn 1%, Tax Wallet 4%
       

Tax Wallet Allocation:
    • Mountain Wallet: 70%
    • Everest Vault: 30%

Additionally, taxes will apply to liquidity pool transactions:
    • LP Creation Tax: 7%
    • LP Removal Tax: 4%

These changes are designed to ensure that Altitude remains competitive and accessible while maintaining the sustainability of its utilities and rewards programs.

A New Era for Altitude: Join the Ascent:

With the launch of the Altitude/USDC liquidity pool, monthly USDC dividends via the EVEREST Vault, and an optimized tax structure, Altitude is entering an exciting new phase of growth and rewards. This strategic evolution reflects our unwavering commitment to delivering consistent value, rewarding loyalty, and fostering a thriving ecosystem for all stakeholders.
Join us on this journey as we scale new heights with Altitude. The future is bright, and we’re just getting started!