Lovable monsters post impressive gains, and the token looks long-term with deflationary metrics.
Cake Monster’ Solid Week
Most monsters slumber for the winter, but it appears the Cake Monsters Protocol on Binance Smart Chain (BSC) has risen to revolutionize token holdings. The MONSTA native token was the top gainer on BSC over the last week after a twelve-day run of hitting all-time high prices.
Cake Monster launched from a micro-cap token to a medium-sized token very quickly. It now has a market capitalization of $117 Million as of October 18th. The market cap for MONSTA on October 11th, barely a week ago, was $28 Million. This is a 317% increase in just one week.
To push the message and vision for the protocol, amidst day twelve on the hitting All-Time High, Cake Monster set its sights on another lovable creature, the infamous dog tokens.
“Another $MONSTA ATH [-] If you don’t believe we’re gonna be knocking on the dog tokens’ doors in the near future, you mustn’t have been paying attention sightly [-]We have the best community in crypto hands down!!” the platform tweeted on October 18th.
The protocol has a lovable character and impressive tokenomics. The gainz will be tough to maintain in the world of Binance Smart Chain, but twelve days is nothing short. We’ll see if they can continue through a full fortnight.
Cake Monster launched in September with a revolutionary idea for a hyper-deflationary and elastic supply token. The token uses PancakeSwap’s native token, $CAKE, as a unique reserve. The protocol uses reward mechanisms that feature an automated hybrid monetary policy to maintain healthy protocol during all market environments.
Cake Monster is the first protocol to create an ever-growing $CAKE Gravity Vault that is open to all $MONSTA holders and rewards them with all the $CAKE it collected by exchanging $MONSTA. Currently, there are 10 Billion Monsta tokens in circulation, but the supply is decreasing.
The protocol does a fun gimmick of tweeting music videos of popular bands like Gorillaz and Led Zeppelin. The protocol has launched its NFT platform Monsta Party NFTs and looks ready to tackle the rest of phase three and four of their Phase Map from their website.
The price for $MONSTA was $0.02134, at the time of writing—an over 320% jump in a week. The protocol has a white paper describing the details of the tokenomics, where the potential to receive CAKE is a bonus of attraction beyond the impressive deflationary metrics.
What is Cake Monster:
Cake Monster employs and maintains a fair, sustainable, and rewarding ecosystem. The native token, $MONSTA, is a hyper-deflationary and elastic supply token using CAKE as a unique reserve and reward mechanisms featuring an automated hybrid monetary policy. $MONSTA provides many great features aimed at building a flexible and multifaceted dividend yield and reward system for participants without compromising the sustainability or security of the ecosystem and combines this with smart design, creativity, and organic growth. So far, the protocol offers a NFT protocol Monsta Party.
Where to find more about Cake Monster:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.