Singapore, Singapore--(Newsfile Corp. - November 27, 2021) - The volatile nature of the cryptocurrency market has always been a significant concern for investors and project developers alike. To tackle the uncertainty, BurnDoge is introducing a hyper-deflationary ecosystem that also has a reward mechanism The uncertainty caused by price fluctuation has been a constant setback for many projects leaving investors at a loss.
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Things, however, have significantly changed thanks to token burning that allows project owners to create stability for their cryptocurrencies. The practice of token burning has helped many projects in the cryptocurrency industry create a stable environment for the crypto token in question. Usually, the process involves permanently removing a specific number of tokens from circulation for deflationary purposes.
From a single burning process following a successful Initial Coin Offering (ICO) to periodic burns, project developers either repurchase or take available currencies out of circulation to create value for their token.
BurnDoge is a community-driven meme token created on the Binance Smart Chain. BurnDoge hopes to become a fully decentralized hyper-deflationary environment while rewarding its community. BurnDoge offers its community cheaper gas fees and faster block speed. BurnDoge, one of the fastest-growing cryptocurrencies of its kind, is making milestones through its rich values that include community, trust, transparency, and longevity.
Launched in August 2021, BurnDoge is a fully decentralized project that allows the average person to engage in the cryptocurrency marketplace while burning coins simultaneously. The process is automated, reportedly bringing confidence to users.
What is excellent about BurnDoge's burning mechanism is that it creates value by reducing the number of coins in circulation, which helps stabilize the value of the token. The automatic burning process also helps build a lasting commitment with its community. Unlike other communities who constantly ask and worry about when the promised token burn will occur, the automatic burning process brings assurance within the BurnDoge community.
According to the BurnDoge whitepaper, the team explains:
"Our team has decided to launch BurnDoge on the Binance Smart Chain (BSC) and lock liquidity on PancakeSwap to help avoid unreasonable gas fees. By having a low gas fee and decentralized exchange, BSC has become one of the most widely used blockchains for Decentralized Finance (Defi). BSC uses a token protocol developed by the Binance Team called BEP-20 known for its lightning-fast block speed."
Additionally, BurnDoge has one of the most exciting tokenomics in the market. The project has a redistribution and auto burn mechanism created to reward 4% of every transaction to holders. These rewards are paid through the project native token, sent automatically to the users' wallets after every transaction. Notably, the 4% distributions are calculated based on the size of the transaction and then distributed to holders proportionally depending on the number of tokens they hold. Notably, the more BurnDoge token that is actively traded, the more rewards are granted to the holders.
BurnDoge has a total supply of 10 quadrillion BurnDoge tokens. From these, 43% will be sent to a burning wallet. The project tax breakdown includes allocating 4% for automatic burn mechanism, 4% for automatic reward to holders, 5% for auto liquidity pool (LP), and 2% for a marketing wallet. Every transaction with BurnDoge will incur 15% fees, of which 5% will go into the Liquidity Pool.
BurnDoge's roadmap is rich and exciting for the community, promising to add various vital developments.
Currently, BurnDoge is holding a voting event for its own website on Coinfomo (www.coinfomo.cc). Coinfomo serves as a utility platform where various tokens across Ethereum and Binance Smart Chain network promote their website. So far, BurnDoge ranks top with over 3672 votes from the community. Note, the BurnDoge token will be advertised on their platform 24/7 365 days throughout the year. The project will also be holding a contest with CMC upcoming, offering participants free airdrop for more exposure.
Lastly, BurnDoge primarily runs on volunteers and donations from its community. Note, donations by the community go towards increasing awareness through social media influencers and other awareness campaigns. The donations also will help in exchange listing and platform and community development.
Website : https://burndoge.finance/
Telegram : https://t.me/BurnDogeCommunity
Twitter : https://twitter.com/BurnDoge_
Website voting : http://coinfomo.cc
Company - News Coverage Agency
Name- Baban Mahato
Telegram- Baban Mahato
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105330