This project hatched from the idea to include the community as a core part of a project while adding fun mechanics. The community will be included and take part in the future of Magikarp, can participate in big decisions through voting system in our telegram group, and contribute with innovative ideas (some crazy ones we’ve heard); Magikarp motto: we shall be honest and crystal clear. What is Magikarp Finance (GYA) | What is Magikarp Finance token | What is GYA token
In this article, we'll discuss information about the Magikarp Finance project and GYA token
This project hatched from the idea to include the community as a core part of a project while adding fun mechanics. The community will be included and take part in the future of Magikarp, can participate in big decisions through voting system in our telegram group, and contribute with innovative ideas (some crazy ones we’ve heard); Magikarp motto: we shall be honest and crystal clear.
Magikarp ($MAGI) is a RFI token, which means that, with every transaction made, there will be a % of the value splashing back to all holders and a % that will be burned.
The maximum percentage for this purpose is 9% (hardcoded, safu).
Currently the distribution burn fee is set to 6% distribution / 3% burn.
In the near future there will Community Votes to decide how to readjust this ratio (i.e.: 6% burn and 3% shared, or 4.5% burn — 4.5% shared). This is the Normal Fee Mode.
In the first week, we will release the Storm Mode, which is a different type of tax mode, we don’t want to reveal too much but know that the max cap will still only be 9%. More information will be published *in an upcoming medium post and there will be a 24h *notice before it goes into effect.
Are your Tokens SAFU?
Long story short, yes.
We have some experience with previous BSC projects and from the launch, we decided we wanted to be as secure as possible.
For this purpose, we use the Gnosis Safe on BSC, meaning that, if someone is planning on moving the funds the team wallets (there are 2), multiple team members must authorize it. Both received 10% from the initial supply. We aim to distribute these funds for the prosperity of this project.
The team members all know each other. We had an internal KYC 😉
In addition 2 of our 3 Core Team Members have doxxed themselves to @DeFiDownsin (unrelated to the project).
The above described measure ensure the safety of the project.
This project is still experimental, please only but in what you are comfortable with. This is still DeFi and we want everyone to be safe. This means calculated risks and DYOR.
GYA is the inflationary token of Magikarp’s Finance ecosystem. There are 3 ways to earn via GYA with yield farming. Each of these ways of yield farming carry their own sets of risks and rewards, tailored for your risk appetite. Understand the mechanics of each method, so you can come up with your own strategies to maximize your profits with our system. As usual, we provide the transparency and information so you can DYOR and capitalize on gains in the crypto world!
Aqua farms work by providing liquidity to trading pairs. When you provide liquidity to a liquidity pool, you receive LP tokens. You earn in 2 ways through this method: your LP tokens help you to earn via trading fees for helping to provide the liquidity in that trading pair, while at the same time, you are rewarded with GYA for your contributions to the ecosystem.
Yes, it’s that simple! Do take note that there are costs to farms, though. Each LP farm has their own deposit fee, and if any, the fee is taken off your deposit and sent to the dev wallets for GYA buyback and marketing. There is also a 9.09% GYA fee when unstaking. These are necessary fees to ensure that the ecosystem remains sustainable — without such measures, there would be an oversupply of GYA in the market, which negatively impacts prices. Therefore, it is critical that you plan your investment and staking such that the rewards surpass the fees incurred!
Earning from swimming pools is much more straightforward. All you have to do is to:
Once again, take note that there is a deposit fee incurred on staking. There is also a fee taxed on the rewards when withdrawing, and these 2 fees are sent to the dev wallets to be used for GYA buyback and marketing purposes.
Shrines are the latest features of the Magikarp ecosystem. This is a concept that has never been done before, and we’re proud to be bringing it to the Magikarp community. In shrines, you earn your rewards in MAGI or BNB. This reward pool is exhaustive, and is initial filled by the dev. This comes with a cost — there is a** 99% unstaking fee**, which means you are essentially sacrificing GYA for crazy rewards. This 99% fee, however, is subject to tweaking, as this concept is experimental. It will be lowered manually when the supply of GYA is low, and increased back to a max of 99% when there is an oversupply of GYA in the market.
Would you like to earn TOKEN right now! ☞ CLICK HERE
Magikarp Finance is now live on the Binance mainnet. The token address for GYA is 0x9458784486fb00c2d1a8740d5579207c42dbd602. 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.
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)
You need a wallet address to Connect to Uniswap 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
Connect Metamask Wallet to Pancakeswap Decentralized Exchange and Buy GYA token
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once GYA gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com ☞ https://www.bittrex.com ☞ https://www.poloniex.com ☞ https://www.bitfinex.com ☞ https://www.huobi.com ☞ https://www.mxc.ai ☞ https://www.probit.com ☞ https://www.gate.io ☞ https://www.coinbase.com
Find more information GYA
🔺DISCLAIMER: The Information in the post is my OPINION and not 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.
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