Binemon is attempting to revive its hay days from two months ago with an ecosystem upgrade to allow for fairer reward distribution.
Binemon Attempts Fairer Reward Distribution
Binemon announced an important update to the game’s ecosystem that entails a burn of 150 million tokens in a bid to allow for a fair launch via a Twitter post on Nov. 1.
Binemon needed to change after the userbase of Binemon has taken a massive hit since its release in late August. The number of daily users has fallen from nearly 5,000 around launch to merely 232 users on Nov. 4, per data from DappRadar.
To help boost the token, the project’s team will permanently burn 150 million BIN tokens, the native token of Binemon, after the developer’s share of tokens has been unlocked at Unicrypt on Aug. 24, 2022.
This update will lead to three main benefits for the game:
Fair Launch
Community driven token and 100% Play to Earn (P2E)
Revenue: share & burn
Despite the drop in userbase, BIN performed well towards the end of October and into November. The token posted 89.9% gains in the last seven days, with its market capitalization currently standing at $16.2 million, as per data from CoinGecko. The token has its maximum supply capped at 999 million, and exchanges presently hands at $0.016.
Time will tell if these changes can help revitalize the Binemon, or if the token will be left floundering with small ecosystem of a few hundred users.
About Binemon
Binemon is an NFT based virtual pet game that is combined with the elements of an Idle RPG game. Users can collect and trade eggs, ambrosia, characters, special items, and players to fight in different game modes like Player Vs. Environment (PVE), Player Vs. Player and Guild Vs. Guild (GVG) to earn rewards in crypto tokens.
Find more about Binemon here:
Website | Twitter | Telegram Group | Telegram Channel | Documentation |
Source : bsc.news
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