Burningmoon (BM): A Hyper-Deflationary Token

BurningMoon is a hyper-deflationary token, which aims to achieve the highest burn rate ever seen by encouraging holders to burn their Tokens.

What is Burningmoon (BM)?

BurningMoon is a hyper-deflationary reward-based token that provides its users with a variety of use cases. The platform has a unique type of tokenomics that aims to create and sustain its entire ecosystem as a whole. As such, this sets it apart from most regular tokens that enter the crypto space. At its core, the mission of the Burning moon system is to decrease the total token supply as quickly as possible so that the faster price of any token increases the token’s scarcity and ultimately its value to current token holders.

According to the team at Burningmoon, the network has some specific qualities that promote its deflationary nature. Some of these qualities include the system allowing anyone to sacrifice their burning moon tokens to earn double the regular reward amount, as well as purchasing lottery tickets, all of which burn tokens directly, and a plethora of other functions. The system also has token rebuy and burn functions that run every week within its ecosystem. All these specialized functions of the Burningmoon platform have been specifically added to your smart contract system. Thus, in the short time of its operation, it burned about 55% of its total supply.

Who are the founders of BurningMoon (BM)?

The BurningMoon token was created on September 21, 2021, and just like the first existing cryptocurrency, Bitcoin, the developers of the binary platform are also unknown. However, some members of its development team were featured in interviews, but there was no mention of the founders of the companies other than their management team. According to Rainhard, the lead developer on the project, the team is made up of a number of experienced individuals with talent both inside and outside the blockchain technology space.

How does BurningMoon (BM) work?

The BurningMoon token offers its users multiple use cases. Some of these features prevent the claiming of rewards in the form of BNV or any other type of token accessible in the Binance Smart Chain ecosystem. They can also be accessed using Dapps and are available directly from the BurningMoon website.

According to the team, the BurningMoon token is the culmination of several months of development and discoveries in the Defi sector. As a dedicated token of the BurningMoon network, the BM is used in the execution of transactions within the network. Off-grid, the token also has value and can be exchanged with other cryptocurrency pairs to generate profit for holders.

BurningMoon Platform (BM)

The BurningMoon platform has several qualities that set it apart from most other cryptocurrency systems. One of those key defining qualities is its attempt to stop the whales in the blockchain industry from controlling the entire network. The BurningMoon platform has several segments of its ecosystem that make it stand out in the ranks of other cryptocurrency tokens and some of them include.

  • BurningMoon Lottery: The platform has a built-in lottery feature that can be accessed through the decentralized BurningMoon app. This serves as more incentive for the token burning process and allows users to win lottery tickets to be burned. Typically, each of the tickets costs 100 tokens and when a person wins the lottery, the prize is usually more than $2.000.
  • NFTs: While the system does not currently have an NFT platform, it is actively working on creating a number of NFTs and trading systems that would burn most of the platform fees. According to its roadmap, the NFT segment is scheduled for the third phase of its development process.
  • Taxes: A fraction of each purchase and sale transaction is taxed on the network at different rates. The system whitepaper lists your base taxes at 10% for purchases and 20% for sales. These taxes are necessary for the BurningMoon ecosystem to function effectively, as they perform various responsibilities such as funding staking rewards, liquidity pooling, and marketing/advertising to extend the token’s reach. A variable portion of all taxes is also burned.

Peanut Butter launchpad

BURNINGMOON introduces Peanut Butter, a cutting-edge Binance Smart Chain launchpad built with you, the crypto user. Packed with easy-to-use features and a state-of-the-art user experience to create an increasingly secure cryptocurrency investment environment.

Collaboration NFTs

Any token launched on PeanutButter.io can be seamlessly associated with BurningMoon Collaboration NFTs. These NFTs are enhanced through smart contracts and provide benefits such as ongoing rewards in partner token currency based on the trading volume received by BurningMoon.

In fact, since its launch on August 28, 2021, BurningMoon has partnered with a wide variety of crypto projects in the DeFi space through collaborative NFTs such as Devolution, Alteration, and Marketledger – the former MoonX token.

The launch of these collaborative NFT releases is often supported by friendly exchange and cross-promotional marketing events such as announcements, trailers, prize sweepstakes, and AMA sessions.

Launchpad Fees and Benefits for BurningMoon Holders

The launch fee is 2 BNB and 2% of the total amount collected in the Pre-Sale. The 2% will be distributed among BurningMoon token holders and will also be used to buy back and burn BurningMoon tokens.

Additionally, it is possible to have access to other benefits such as Whitelists, by purchasing Golden Ticket and Diamond Ticket NFTs.

future developments

Updates to Launchpad: PeanutButter, the collaboration of NFTs and future developments such as an NFT marketplace and Blockchain Games will support BurningMoon’s prospects of providing tokenized utilities for the future integration of its blockchain technologies into Metaverse and web3 applications. This will provide a wide range of opportunities for beneficial and promising partnerships.

BM token

In total, there were approximately 1.000.000.000 BM tokens created according to its tokenomics, which also stated that rewards on the platform are primarily generated through taxed transactions. The rewards in question here do not have a specified minimum amount and can be automatically wagered or claimed at any time. Rewards issued on the network can be claimed in the form of BNB, just like any of the other tokens supported by Binance’s smart chain.

Holders of the network’s promotional token also enjoy some exclusive benefits, which include a 3^ reduction on their sales and purchase taxes. Rewards in the system are induced through a variable tax setup that is designed to accommodate different market conditions. Taxes levied on the platform also cannot exceed 25%, the limit being already encoded in the platform’s smart contract system.

Is the BurningMoon (BM) network secure?

BurningMoon is a BEP-20 token operating on the Binance Smart Chain. The system is touted exclusively as a “hyper-deflationary” currency and prides itself on encouraging token burning; hence its name. The system can achieve this by rewarding users with double the value of the burned token.

Unlike most tokens on the Binance Smart Chain, the BurningMoon token is secured by a dedicated proof-of-stake consensus algorithm. As such, it is kept safe by the participants who have their stakes in the system and essentially prevents any form of malicious activity in its ecosystem.

What is the price prediction for the BurningMoon token?

According to the technical analysis on previous BM price data, in 2022, the price of BurningMoon is expected to reach a minimum level of $0,006. The BM price can reach a maximum level of $0,008 with the average trading price of $0,007. Already in 2023 the price of BurningMoon is predicted to reach a minimum level of $0,009. The price of BurningMoon can reach a maximum level of $0,011 with the average price of $0,009 throughout 2023.

In 2024 according to the forecast price and technical analysis, the price of BurningMoon is expected to reach a minimum level of $0,013. The BM price can reach a maximum level of $0,015 with the average trading price of $0,014. The price of 1 BurningMoon is expected to reach a low of $0,019 in 2025. The price of BM could reach a high of $0,024 with the average price of $0,020 throughout 2025.

Bottom Line

BurningMoon is a hyper-deflationary token that aims to achieve the highest burn rate ever seen by encouraging holders to burn their tokens. Holders are rewarded in BNB. Additionally, they can choose to be rewarded in any token they wish, including the “Promotion Token” which allows for special bonuses.

admin

Read Previous

Vitalik Buterin Presents Solution Against Ethereum Censorship

Read Next

Bitcoin Might Reach $149K After Next Halving Cycle: Pantera Capital

Leave a Reply

Your email address will not be published. Required fields are marked *

Right Menu Icon