In this article, we’ll discuss information about the iBNB Finance project and IBNB token
iBNB is the first dynamic DeFi token, with a reward pool generating protocol built on the Binance Smart Chain. It aims to fix the volume-to-BNB pool refill rate that has seen other tokens lose value during sustained periods of low volume.
iBNB’s main focus is to prioritise the replenishment of the reward pool as much as possible while also maintaining a healthy amount of liquidity in the Pancakeswap trading pool to sustain itself during periods of high and low volume.
The token mechanics can be pictured as followed:
Dynamic Tax Protocol
The Dynamic Tax Protocol (DTP) is a revolutionary new mechanic that adjusts it’s tax rates to sustain and rejuvenate supply pools. DTP refills the liquidity pool when needed and fully prioritises the reward pool when liquidity is healthy.
Reward Contributions
Reward Contributions is a fundamental system design for large claims and transactions to contribute back to the community in an inclusive manner. In order to ensure that every investor gets a fair share of rewards, those with the largest claims contribute a small portion back to the reward pool relative to the size of their claim.
Anti-Dump Mechanism
iBNB is the first token to introduce scaling tax brackets for large sellers. The more an investor sells in one transaction, the more tax will be applied to the transaction, on top of the existing 10% transaction tax. Furthermore, transactions that are expected to disrupt the financial health of the token are rejected in order to protect our investors and maintain economic stability.
Buyback protocol
As the marketing wallet holds 4.5% of the tokens and will receive a significant amount of BNB claims, all claims will be used to buyback iBNB.
Burn protocol
0.1% of every transaction will be redirected as an additional slow burn as additional deflationary aspect to iBNB.
iBNB Supply Breakdown
Presale
Q2 2021
iBNB finance project is born
Q3 2021
iBNB website, whitepaper and contract is released
Q4 2021
Full steam ahead
Q1 2022
The world is our oyster
IBNB token is now live on the Binance mainnet. The token address for IBNB is 0x830f7a104a3df30879d526031d57daa44bf85686. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.
Just be sure you have enough BNB in your wallet to cover the transaction fees.
Join To Get BNB (Binance Coin)! ☞ CLICK HERE
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step
You need a wallet address to Connect to Pancakeswap Decentralized Exchange, we use Metamask wallet
If you don’t have a Metamask wallet, read this article and follow the steps
☞What is Metamask wallet | How to Create a wallet and Use
Transfer $BNB to your new Metamask wallet from your existing wallet
Next step
Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy, Swap IBNB token
Contract: 0x830f7a104a3df30879d526031d57daa44bf85686
Read more: What is Pancakeswap | Beginner’s Guide on How to Use Pancakeswap
The top exchange for trading in IBNB token is currently Pancakeswap v2
Find more information IBNB
☞ Website ☞ Explorer ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Message Board ☞ Documentation ☞ Coinmarketcap
🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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#blockchain #bitcoin #ibnb #ibnb finance