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Buy / Sell Limits
PLEASE READ BELOW ON THE ABILITY FOR THE NIL CONTRACT TO SET LIMITS FOR TRANSACTIONS. THESE LIMITS ARE DETERMINED BY AN ALGORITHM TO PREVENT EXCESSIVE SELLING FROM ONE WALLET AND OR BOT/CONTRACT.
In order to ensure the health of the token and ability to protect holders of NIL, our contract implemented a buy/sell limit value. This value is determined by the following factors:
- Price fluctuation within a 72 hour period of time.
- Protecting from Bot / Snipe arbitrage wallets over buying/selling in short period of time.
- The average volume per day.
NOTE: This value can be updated based on the above criteria at a minimum of every 24 hours.
** The limits may change based on the health of the token. All changes will be posted her.
In the first 180 days of any new token, the price can be extremely volatile due to early buyers who take advantage of price fluctuation. Limiting the amount per transaction is meant to protect current holders from traders taking advantage of these price swings maliciously causing the price of the token to drop significantly. NIL is a utility token and meant to be used for rewarding Athlete Influencers for their Name, Image & Likeness. This is the first or foremost priority of all decisions made regarding the NIL Contract and Token.