BERN, Switzerland, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Cake Monster, a new decentralized finance (DeFi) protocol on the Binance Smart Chain (BSC), has announced a revolutionary supply burn for its token. From the onset, the team at Cake Monster has defined themselves as economic innovators. The economic and innovative model of the project combines a hyper-deflationary native asset ($MONSTA) with the acquisition of a non-correlated reserve asset ($CAKE). After approximately seven months, the protocol continues to put proof to the theory and is working beautifully.
The reserve is generated from a small transaction and proof of life tax (once every fifty days.) This ensures the continual and fair hyper-deflation of the total $MONSTA supply. The reserve is growing fast, with average monthly APYs well over 500% and over 188K $CAKE already in the vault. Over TWENTY percent (20%) of the total supply has been burned, amounting to over two billion $MONSTA tokens. This is an extraordinary achievement for a new protocol in the current market in such a small amount of time.
The Monster Supply Burn
With just under a year and a half to go until the end of the first cycle, the ongoing hyper-deflation (token supply burn) seems likely to make things very hot, driving the price of $MONSTA up as the supply shrinks. This, in turn, will increase the growth rate of the reserve and further increase demand for $MONSTA, potentially a volcanically virtuous cycle for token holders.
However, the platform does not stop there as the supply is also elastic. Once the first cycle is complete and the reserve contents are distributed to $MONSTA holders, a new cycle is triggered, and previous cycle holders will be reissued their $MONSTA. The re-issuance will be in proportion to their percentage of holdings at the end of the previous cycle. The heart of the protocol beats again; the hyper-deflation and reserve growth begin anew with remaining liquidity from cycle one added to the news cycle.
The Cake Monster platform is replete with incentives to earn, explore and have fun. Already deployed are; Crumbs, Kitchen Making, Cashout of inactive accounts, Diamond Claw NFTs, and the Monsta Party NFT and P2E platform (first to be launched and generated while in outer space… the video is extraordinary.)
About the $MONSTA Token
The monster token is a BEP-20 compliant token used within the Cake Monster ecosystem. The initial supply of the token is 10 billion. However, as a result of the monster burn, the final supply will be 1 million (0.1%) of the initial token supply. For the token distribution, 30% of the tokens will be utilized for community engagement, marketing, and airdrop, 10% for the team, 50% presale, and 10% for public sale.
Innovative Features of the Monster Ecosystem
Single-sided $MONSTA staking
Once deployed, $MONSTA holders will be rewarded for their commitment, which may positively affect the market and growth rate of the reserve. The potential for centralized exchange listing is also increased due to simple technical solutions to the transaction tax being possible.
More than one lottery is under development but the first to be released is something the team dubbed "Eternal CAKE."
The Eternal CAKE lottery will enable active diamond claw NFT holders to mint a lottery ticket. The numbers will be drawn every three days. If a player wins, they will be able to claim their prize. If nobody wins, or the winner doesn't claim their prize, the $CAKE is added back to the pot for the next prize draw. This means the opportunity for some potentially juicy and large jackpots to be won.
Once you have minted (or purchased later from a marketplace) a lottery ticket, it never expires. In other words, it provides the owner with ongoing access to all future Eternal CAKE lottery draws.
This new addition to the Monsta Party NFT platform is a protocol feature called "Rob A Monsta" (RAM). It is a P2E (play 2 earn) game that will reward active Monsta Party players at the expense of inactive players.
All-Party Monstas that have ever been fed by their owner continually accrue $MONSTA dividends, even if never fed again. However, active players (those feeding their Party Monstas) will be able to claim any pending $MONSTA dividends for Party Monstas not being fed by initiating a "robbery."
After a recent vote of community members, which returned an overwhelmingly positive result in favor, a new reserve asset (BNB) will be added to the protocol, making it multi-asset. This is expected to provide significant additional resiliency and further collaboration and community growth opportunities.
About Cake Monster
Cake Monster ($MONSTA) offers a multitude of great features aimed at building a flexible, multifaceted, and automated dividend yield and reward system for participants without compromising the sustainability or security of the protocol ecosystem, and combines this with smart design, creativity, and organic growth, resulting in a very vibrant and engaged community.
Cake Monster may look like a meme at first glance, but behind the stunning artwork and fun, whimsical nature is an economic model with significant and powerful innovation. It has attracted many knowledgeable minds and a passionate and engaged community. Innovation within the project is rapidly accelerating, with incoming developments and deployments representing only a small part of what is to come. An incredibly comprehensive and efficient PR and marketing campaign strategy has been developed to maximize awareness, growth potential, discussion, education, and utility of the core protocol and all future deployments. With these building blocks and ambition to match, this project is worthy of attention and deep analysis.
About Cake Monster
Cake Monster ($MONSTA), a DeFi protocol on Binance Smart chain, offers unique features focused on developing a flexible, multifaceted, and automated dividend yield and reward system for participants. It's the first protocol to design an increasing Gravity Vault CAKE Reserve that opens up to all $MONSTA holders and rewards them with $CAKE.
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Byron James, Cake Monster Media Office
SOURCE: Cake Monster