In this article, we'll discuss information about the RugZombie project and ZMBE token.
While $ZMBE cannot prevent or predict the exposure of the public to “rug pulled” or “scammed” tokens, it is our mission to provide a value for the victims of rug pulled projects in a cathartic way, while offering actual utility on the Binance Smart Chain.
Unfortunately, many users of crypto on BSC subject themselves to projects while doing little to no research, or "ape" into tokens that have barely launched only resulting in rug pulls and scams.
Other tokens lose value as their initial dev team gives up due to lackluster price action or trouble in managing their projects;
and still other projects are exploited by flash loan attacks, and succumb to other smart contract risks.
As an overview, Rug Zombie exists to:
Create value out of dead or rugged tokens
Provide a humorous way for crypto users to “move on” emotionally from their losses
Promote a cleaner and safer defi ecosystem
Due to the decentralized nature of blockchain technology and smart contract protocols such as Ethereum and the Binance Smart Chain, anyone can create tokens and launch projects on the blockchain. While this decentralized space has led to the creation of many incredible projects within the DeFi economy, it has also opened the door to a proliferation of scams, fraud and dead projects, exposing the public, “apes” and “degens” to financial risk.
An individual who has suffered a significant financial loss at the hands of a nefarious developer is said to have been “rugged” or “rug pulled.” After a project has been “rugged” by the dev, the project’s tokens often have little to no residual value or utility.
For the uninitiated, a rugged project can come in various forms, typically a scam wherein the dev removes money from a project through maliciously written code in a token’s contract, removing a token’s liquidity, or selling off large amounts of a token’s supply. That said, not all dead projects are intentionally rugged, but the result is the same; little or no remaining value in the project’s token. Some dead projects simply failed to catch investor interest. Some hacked tokens have been subject to an exploit from the outside, but for the purposes of this project, we will utilize all the above, whether hacks or "rugs" due to the end result being the same.
As long as decentralized finance remains, there will likely be rugged projects, malicious developer activity, hacks, and dead coins.
While RugZombie cannot prevent the public from being exposed to or a victim of “rug pulls”, it is our mission to restore value to holders of rugged projects and give victims of rug pulls a cathartic way to move on by creating new and innovative incentives that will redeem rugged projects and victims of rug pulls.
The RugZombie Team has created a Dapp from a fork of PancakeSwap code to allow users the opportunity to stake dead tokens in our GRAVES or TOMBS in exchange for custom NFT artwork as a consolation prize and earn a yield with our $ZMBE token.
After unlocking our “GRAVES”, the user will donate at least one dead or “rugged” token for verification (this token is unrecoverable) and stake a minimum amount of $ZMBE for a set time-frame (usually 30 days) to unlock and receive a one-of-a- kind NFT as a trophy for being rugged. The dead-weight in your trust wallet just got a bit lighter. Funds can be removed at any time, but there will be an early withdrawal fee to incentivize users to patiently farm their NFT. NFTs will be issued only after the set time-frame.
Our “TOMBS” are a bit different; the user will need to deposit a certain amount of dead or rugged tokens and a certain amount of RugZombie's token to pair in a unique Liquidity Pairing. The user will be able to stake their rugged tokens and RugZombie pairing in order to earn an additional yield in RugZombie's native token, much like other yield farming contracts. RugZombie isn’t falling from heaven but clawing its way out of a grave.
GRAVES are designed for rugged tokens that have zero or very little financial value while our TOMBS are designed for rugged tokens that retain some residual value by way of locked liquidity. This residual value allows our team to resurrect life from dead tokens by allowing our users to stake their rugged tokens in our TOMBS to receive a comparable yield with $ZMBE, thereby resurrecting the rugged token from the dead. It is quite possible for users who hold $ZMBE long enough to completely recover their lost value from these scammed projects. It’s alive!!!
While we realize there are a lot of complex dynamics at play when one considers utilizing scammed tokens to redeem value, we need to be clear that RugZombie is taking the best of care to select projects that could be eligible for our TOMBS. To be frank, most scammed tokens will not pass our selection process that is implemented to ensure scammers and hackers are not rewarded for their behavior.
NFT: Custom and unique NFTs for rug pulled tokens in our GRAVES (they are only available to those who have been a victim of that rug)
Liquidity & Farming: Unique liquidity pairings with rug pulled projects in our TOMBS for anyone willing to experiment, and earn a $ZMBE yield
Gaming/Entertainment Ecosystem: A custom NFT based game (In Development; see roadmap) among other unique NFT based projects (these are super secret for now)
Secondary Market: A peer to peer marketplace to buy, sell and trade your rugged $ZMBE NFTs and Merch.
Community Building Features: Auctions, special events, and other fun ways to earn $ZMBE and Collectible NFTs. Our team is excited to move to a place of on chain governance and giving the community the "keys to the grave".
The community features will not happen immediately, but after a long period of thought and consideration for the best decisions for the project. More decentralization is the eventual goal, but we felt passionate about getting things right before unlocking community features such as voting and governance on emission rates, future graves and partnerships etc.
As you can see, our main features have nothing to do with tokenomics (which you can see next), because utility is the underlying value of our blockchain project.
Token Name: Zombie
Token Symbol: ZMBE
OFFICIAL Token Address: 0x50ba8BF9E34f0F83F96a340387d1d3888BA4B3b5
Chain: Binance Smart Chain (BEP20)
Max Supply: Unlimited
Initial Supply: 100million ZMBE
Emission Rate on Launch: 10 ZMBE / block
Why ZMBE has no hard capped supply?
$ZMBE at its core is a simple yield-farming token allowing the user to earn new tokens out of their rugged tokens. Our mission is simple; providing new value to our users through resurrecting rugged or dead projects with this new yield in $ZMBE.
As $ZMBE is a farming token, it is inflationary and has no fixed supply, but the circulating supply will be controlled by a variety of unique burning features:
● Burning $ZMBE tokens when used to unlock Graves and Tombs;
● Our buyback and burn program (we will sell the rugged tokens that have been deposited to unlock our Tombs and then use the proceeds to buyback $ZMBE to be burned);
● Manually burning $ZMBE from Treasury as needed;
● Auctions and contests where a portion of the $ZMBE used to participate will be burned. Specifics of these projects will be released as they arrive.
In addition to utilizing $ZMBE to recover loss from rugged tokens, users are incentivized to HODL due to our burning and staking mechanisms that will increase the value of $ZMBE over time. Additionally, in the future, $ZMBE HODLers will have the ability to receive NFTs, possible airdrops and participate in governance and more.
Inflationary supply can be a cause for concern for potential users of $ZMBE, however the way our project incentivizes liquidity provision is by giving out rewards that require an emission rate, thereby increasing the supply. $ZMBE is also used in future features with our gaming ecosystem (coming ~Q1 2022) and there are MANY ways to control the supply as stated above. Please trust our team as we build something great here.
We have many burning mechanism, staking mechanisms and more that will lead to $ZMBE being emission neutral. If anything, we may need to increase the emission rate rather than decrease due to high demand and how useful $ZMBE will be in all our ecosystems.But as the chart below demonstrates, $ZMBE is among some of the lowest emissions you will find in farming projects.
How and Where to Buy ZMBE token?
ZMBE token is now live on the Binance mainnet. The token address for ZMBE is 0x50ba8bf9e34f0f83f96a340387d1d3888ba4b3b5. 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.
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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)…
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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
Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy, Swap ZMBE token
The top exchange for trading in ZMBE token is currently: PancakeSwap v2 and ApeSwap (BSC)
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