What is BURN2MOON?Deflationary tokens have always been within the Crypto-Sphere, due to the fast exponential value growth that is made possible by the reduction in circulating supply.
One issue that we have found with a token burn though is that over-time as the supply is reduced, users are incentivized to hold their tokens rather than trade or accumlate more tokens.
Hence the idea for Burn2Moon.Finance (BROON) was born.
At its core, Burn2Moon consists of a deflationary token where 10% of the total token supply is burned after every transaction.Where we differ though, is what those tokens represent, along with creating incentives for users to accumulate and trade tokens rather than to simply hold tokens.
Rebasing tokens such as Ampleforth, have already toyed with the idea of an elastic supply, increasing and decreasing the supply of their token in order to reach a target price. The problem comes with periods of negative rebases where users are incentivized to sell their tokens leading to a constant negative price loop.
Instead of creating a rebasing token, what we are building is again, at its core a token that will burn 10% of all transacations, every single transacation. This is coded into our token smart contract, so that the tokens are burnt automatically whenever a user conducts a transacation.
Our burning contract can be viewed on the Ropsten testnet here:
https://ropsten.etherscan.io/token/0xfd381e0382cc28dbfd5c3bff6112809778a31a0b
On top of our built-in token burn, are implementing a yield-farming platform where users can stake either BROON Liquidity (Eth + BROON), or BROON tokens and recieve rewards.
Recently we have seen many yield-farming platforms arise, enticing investors with the “high” APR rates. But the problem is these do not constitute REAL rewards. For example if User stakes token A, and recieves more token A as a reward, and the APR is based on the price of Token A, with no other real use-case than the value and apr will continue to decrease.
We are fixing this by going into a new direction.WE HAVE UPDATED OUR TOKEN FROM BOORN TO BROON
Three pools at start.Deposit BROONN_ETH LP
Earn BROON_ETH LP
Deposit BROON_ETH LP
Earn BROON
Deposit BROON
Earn BROON_ETH_UNI_LP
Initial Pools are set to run for 30 days.
Initial Rewards are as follows: (Price / APR is calculated based on listing price, and subject to change):
TOKENOMICS UPDATE
Basically ourTotal Supply: 88,888 BROON
Yield Farming Rewards: 0* BROON (Continue reading for more information)
Team Tokens: 8,888 BROON (Will be used for marketing and CEX listings)
Initial Liquidity : 80,000 BROON + 20 ETH
Initial Price: 1 ETH= 4,000 BROON
Liquidity Lock : 100%. 8 Days Minimum.
This will happen immediately upon listing.Yield farming will most likely begin in 8 days after the liquidity is unlocked. (This date may be subject to change) If this is delayed, the lock will be extended.
50% of LP will be removed upon launch of our yield farming platform, to be used as pool rewards.
The LP removed will be used as rewards for our BOORN BOORN, and RAIN ON ME pools. ETH will be used to market buy BROON tokens to use as boorncano pool rewards. The * above is adjustable and depends on the remaining number of tokens in the pool
Will they burn go for the low risk low reward? (RAIN ON ME POOL)
Medium risk , medium reward? (BOORN BOORN)
or High Risk (BOORNCANO)
Considering that LP tokens consist of equal parts ETH & BROON pegged at the INITIAL listing price, users are guarenteed to recieve ETH at, at minimum the initial listing price.
Roadmap
Q3 2020Begin user onboarding Marketing campaign
Launch of Staking Platform
Update Homepage
Additional Pools after initial yield rewards
Q4 2020Governance Contract Beta (Submitting of proposals, and incentivized voting)
Additional usecases for BROON tokens
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Topic: Burn2Moon.Finance (BROON) (Read 2028 times)