What is KarenCoin (KAREN) | What is KarenCoin token

In this article, we’ll discuss information about the KarenCoin project and KAREN token

What is Karen Coin?

Karen Coin is a deflationary defi token that takes a 8% fee from each transaction made with the token then generates 4% liquidity and 4% reward distributed to holders. The more you hold the more you earn! The purpose of this is to incentivise investors for holding and punish whales (Large market manipulators). 50% of the total supply of coins was burnt prior to launch.

Fair Launch Protocol & Transparency

Our main focus with Karen Coin is to create absolute transparency and generate full clarity for investors to know that what they are trading is safe and secure.

The team behind Karen Coin ensure that everyone enters Karen Coin with equal opportunity by initiating a fair launch, meaning that there are no allocated coins to developers and the team is to buy in at the same time as the rest of the community.

Karen Coin was fair launched on PancakeSwap. We also then relinquished all control of the Karen Coin contract to a dead address. As a result, no single person or entity has control of the contract making it decentralised and 100% community driven with no backdoors or hidden ownership as it is impossible to access the contract through a dead address. This then puts the ownership and growth of the token into the hands of the community.

In regards to the liquidity pool, are burning this by sending the LP tokens to a burn address, not locking it like most people do.

We are currently engaging with multiple audit companies to become certified and allow everyone to see the safety in the Karen Coin contract. We are treating this as a top priority to get this to our community and out into the rest of the crypto world as fast as possible.

Automatic Locked Liquidity Pool (LP)

Karen Coin employs an automatic liquidity pool algorithm within the contract which collects 4% from each transaction no matter whether the order is to buy or sell and adds it to the LP. The goal is to minimize price movements when larger wallet holders decide to sell their tokens at any point in time.

Having the Auto LP algorithm in place helps reduce significant price fluctuations when compared to coins without it. Theoretically the added LP creates stability from the supplied LP by adding the tax to the overall liquidity of the token, increasing the tokens overall LP and supporting the price floor of the token.

The fact that we burn the LP tokens means that a rug pool by the dev team is completely impossible. Unlike many others who employ a similar system, the Karen Coin LP can never be accessible even after the lock period expires as the smart contract was renounced upon launch and sent to a dead address. This creates a stable trading floor and ensures the PancakeSwap market will always have liquidity on it.

Automated Burn

The purpose of the automated burn is to slowly reduce the amount of Karen Coin circulating over time. As the burn wallet is also a token holder it will continue to accumulate a percentage of the 4% re-distribution after each transaction. Given this is a dead address that no one can access, the percentage of tokens added with every transaction are essentially burnt, lowering the total circulating supply of Karen Coin which increases demand. This is designed in such a way that it will deflate at a safe rate and remove all possible dangers from the community and incentivise growth.

karen-coin-token

Tokenomics

Original Supply

1,000,000,000,000,000

50% initial burn of total supply

8% Tax On Transactions

4% Automatically distributed to shareholders with every transaction

4% Automatically added to the liquidity pool with every transaction

(Cheaper entry and exit fees than most others)

Automatic Locked LP

4% of every transaction is automatically added to the liquidity pool on PancakeSwap. Unlike many other protocols on the market, the liquidity pool is permanently locked and can not be accessed by anyone.

Rewarded When You Hold

We reward Karen Coin holders with a 4% transaction tax which puts $KAREN directly into your wallet every time someone buys or sells.

Key Points

Full Transparency

The team is completely publicised with no allocated tokens to creators and no unfair advantages such as control of the liquidity pool given to creators. The token was launched with equal opportunity to the community through PancakeSwap.

Ownership Being Renounced

After the contract was launched, the dev team/creators renounced ownership of the contract. As a result, no single person or entity has control of the contract making it decentralised and 100% community driven.

Slow, Continuous Burn

As the burn wallet is also a token holder it will continue to accumulate a percentage of the 4% re-distribution after each transaction. Given this is a dead address that no one can access, the percentage of tokens added with every transaction are essentially burnt, lowering the total circulating supply of Karen Coin which increases demand.

Community Driven

A complete focus on community driven and funded projects that benefit all Karen Coin holders. We grow as one or not at all!

How and Where to Buy KAREN?

KAREN token is now live on the Binance mainnet. The token address for KAREN is 0xfd42728b76772a82ccad527e298dd15a55f4ddd6. 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)…

☞ SIGN UP ON BINANCE

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 KAREN token

Contract: 0xfd42728b76772a82ccad527e298dd15a55f4ddd6

The top exchange for trading in KAREN token is currently Pancakeswap v2

Find more information KAREN

☞ Website ☞ Explorer ☞ Whitepaper ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Social Channel 4 ☞ 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 #karen #karencoin