BurningMoon announces that it will continue its Live Token Buyback and Burn Events on a regular basis. Its first Buyback and Burn Event sparked wide interest among investors and a positive market response, as tokens worth over 100.000$ were bought back from the market and burned in an exciting live event on September 4th at 20:00 UTC.
Rainhard, the main developer, states that BurningMoon plans to buyback and burn tokens on a weekly basis. He says "We are aiming for the fastest raising price floor of any token" and explains, that in the first week after BurningMoons successful launch on September 28th over 25% of its token supply were already burned. This is more as Safemoon burned in its entire lifetime. Rainhard says, that everything around BurningMoon is designed to burn its token supply quickly, which increases scarcity and ultimately value for all investors. This will be achieved through frequent token Buyback and Burn Events, as well as several functionalities which were specifically implemented into its smart contract, such as the possibilities for any holder to Sacrifice tokens to increase rewards permanently or acquire Lottery tickets.
New Partnership with Pocket Doge
BurningMoon confirms a new partnership with Pocket Doge, which will be featured as the new Promotion Token, while BurningMoon itself will be available as an Earn Token at Pocket Doge. BurningMoon and Pocket Doge are looking forward to a fruitful collaboration and even more synergies in the future, as both aim to create a rewarding and secure environment for investors and are developing NFTs and a gaming and gambling oriented ecosystem.
BurningMoon Tokenomics explained
BurningMoon rewards are generated through taxed transactions and do not require any minimum amount of BurningMoon tokens. Rewards are staked automatically and can be claimed anytime. They can be claimed in BNB or any other token available on the Binance Smart Chain. Additionally, any holder can compound their rewards to buy BurningMoon tokens tax-free, acquire Lottery Tickets or Sacrifice tokens to receive twice the rewards permanently. Rewards can also be used to acquire the Promotional Token tax-free. Holding a specific amount of the Promotional Token grants additional benefits, such as a 3% tax reduction on all buys and sells.
The rewards are generated through a variable tax-structure, which allows to accommodate different market conditions or create promotional events. Taxes cannot exceed 25%, this limit is hard-coded into the smart contract. Functions such as claiming, compounding, acquiring lottery tickets and sacrificing tokens can be accessed directly through BurningMoons state of the art Decentralized Application (DApp), which interacts directly with the smart contract.
The Promotional Token is a prominent highlighted spot in the DApp and can be acquired tax-free. Holding a specific amount of the Promotional Token grants benefits such as a tax reduction.
The tax structure is variable, which allows to accommodate to different market conditions, but cannot exceed 25%. This limit is hard-coded into the smart contract, which is fully audited.
More information about the tokenomics can be found in the whitepaper. Secure by Design and Audited
The smart contract has been fully audited by Solid Group. Its elaborate code was thoroughly optimized, tested and audited before its release, to make it as secure as possible for investors, who are seeking protection from scams and rugs while maximizing their returns. Several innovative features were tested successfully in live conditions, for example the claim-function in EarnADA or BurningMoons innovative fair-launch system with a decreasing tax-system, which was integrated into BabyDot, for the first time.
Outlook and Team motivation
BurningMoon is the result of several months of development, countless tests, discussions and optimizations from Rainhard, the main developer, supported by a team of over 30 talented and experimented individuals, who are determined to make BurningMoon a true success.
The upcoming developments such as NFTs, a highly secure Token Launchpad and a Video Game Universe will provide a wide array of opportunities for beneficial and promising partnerships.
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SOURCE: Burning Moon
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