Thanks to the reflection mechanics that have been made famous by RFI and Safemoon, MonkeyMoon, a fork of SafeMoon, also integrates this unique ability.
What is MonkeyMoon?
MonkeyMoon is a forked version of the popular RFI project, SafeMoon, that took the DeFi community by storm and created overnight whales in the crypto community. The platform integrates modern RFI mechanics and deflationary mechanics to its tokenomics to reward holders and punish sellers. Its tokenomics set it apart from typical DeFi protocols that require users to lock their tokens in LP positions before getting rewards.
In MonkeyMoon, just as its forked project of SafeMoon, investors do not have to lock their funds for an extended period before getting rewarded. MonkeyMoon uses a reflectionary action to reward its holders. For every transaction made, 8% is charged, 5% goes to the locked liquidity pool, and 3% is shared among the holders.
This way, holders are incentivised to hold for extended periods of time. This promotes a user friendly platform that minimizes smart contract risk.
To guarantee the availability of liquidity at all times, as earlier mentioned, MonkeyMoon is designed to ensure this. 5% of the 8% charged is sent to a locked liquidity pool on PancakeSwap, where the token is currently listed.
LP ownership has been burned and renounced to the community, meaning that the community is now entirely in charge of the project. They decide the future of how the project will turn out to be. Here is proof of transfer of ownership.
MonkeyMoon integrates deflationary mechanisms for each transaction to constantly reduce the total token supply over time. The team burned 45% of the total supply at launch, which boosts the token price up to a whopping 96X after launch. MonkeyMoon is unlike other platform tokens that do not have a maximum token supply. The tokens are instead of getting reduced over time due to their deflationary mechanism.
The project has recently exceeded a market cap of one million with over over 400 holders—[EMBED} Tweet.
It is also getting constantly reviewed by influencers on YouTube, furthering the project’s marketing.
Total Supply – 100.000.000.000.000.000 MKMOON
BURN – 45.000.000.000.000.000 MKMOON
Marketing – 5.000.000.000.000.000 MKMOON
Initial liquidity – 2BNB
The tokens are deflationary, employing an 8% tax on each transaction, 5% split to the auto-lock liquidity pool on PancakeSwap, the remaining 3% split to the token holders. Providing a yield of up to 80% APY.
Smart Contract: Bscan
Proof of LP BURN: Bscan
Proof of token burn: Bscan
Transfer ownership: Bscan
Charts PooCoin: Bscan
Safe launch (LP BURN) (Done)
BURNED 45% of the total supply (Done)
Launch of the giveaway on Twitter (Done)
Listing on Coingecko (Soon)
Website redesign (Done)
Listing on Coinmarketcap (Soon)
Smart contract audit (Soon)
NFT market (Soon)
Listing on established exchanges (Soon)
Further ecosystem development (Soon)
Smart contract audits are planned to boost the confidence of the investors further and show current code conditions. The NFT marketplace will take MonkeMoon to the level of other projects actively contributing to the NFT drive. Further ecosystem development and established exchange listings will boost the presence of the token and the project. Overall the project boasts exciting developments as time goes on.
Source : bsc.news
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