What is Babylons?
Babylons (BABI) is a decentralized NFT marketplace that is designed to bring together the gaming and art communities on the Binance Smart Chain. It is a platform that empowers creators, investors, users, and collectors to participate, create, collect and earn. The Babylons platform stands out with its innovative offerings such as low-cost minting, weekly rewards, and a Decentralized Autonomous Organization (DAO) governance model that allows the community to control the platform.
Minting is the process of creating new coins using the Proof of Stake consensus algorithm. The Babylons platform is deployed on the Binance Smart Chain to save its users from the high transaction fees associated with the Ethereum blockchain. Additionally, the platform aims to give back to the community by supporting artists and creators with unique reward mechanisms.
One of the reward mechanisms is the volume-based reward for active users. The token holders are rewarded based on their share of the total weekly volume. The native token of the Babylons platform, BABI, plays an important role in this reward mechanism.
Another unique reward mechanism is the weekly buyback and burn system. The Babylons team rewards active users who contribute to the platform by promoting liquidity and staking their tokens. The staking rewards are 30 percent and the platform employs a buyback and burn system to increase the value of BABI tokens. The buyback and burn system involves a fraction of tokens being sent to a wallet without a private key, making the tokens lost forever and reducing their availability, thereby increasing the market value of the remaining tokens.
Users can participate in a variety of activities on the Babylons platform, including creating NFTs, showcasing their digital goods, collecting others' NFTs, and selling their NFTs for profit. They can also earn rewards for holding BABI tokens and use their governance rights to vote on major decisions using the DAO mechanism. The platform also features a unique royalty system, allowing users to set a percentage of secondary sales as a royalty, ensuring they receive a share of the added value.
BABI is a governance token that gives the token holders the right to vote on the major decisions of the platform. With its innovative offerings and community-driven approach, Babylons is poised to become a leading player in the NFT marketplace.
The Babylons platform is a revolutionary solution for the crypto industry and NFT market. Its deployment on the Binance Smart Chain solves the problem of high transaction fees and supports the community by giving back to creators and artists. The weekly reward mechanism and the buyback and burn system incentivize users to actively participate and contribute to the platform's liquidity.
In addition, Babylons also offers a unique royalty system, where users can earn a share from secondary sales of their NFTs. The DAO governance model puts the control of the platform in the hands of the community, allowing them to have a say in the major decisions. The native token, BABI, serves as both a governance token and a means of earning rewards for the users.
Babylons is a one-stop-shop for all NFT enthusiasts, providing a platform for creators, investors, users, and collectors to interact, create, collect, and earn. The platform's vision is to bring the gaming and art communities together and provide a seamless experience for users to showcase their digital goods and earn rewards.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free