Bafe.io

Bafe.io

BAFE
$0

Key Metrics

Price$0
Real Volume (24H)$0
MarketcapN/A
Fully Diluted ValuationN/A
ATH$0.00003845
ATH Date5/17/2021, 8:41:18 AM
ATL$0.000000000483
ATL Date11/10/2022, 4:37:33 PM
Circulating SupplyN/A
Total Supply1000T
WebsiteN/A
WhitepaperN/A
Popularity Rank5923
Chart
What is Bafe.io?

Bafe.io is a deflationary token that is completely community-driven and fair launched. Its development team burned a portion of the group's tokens to maintain the token's deflationary nature. Cryptocurrency burning refers to the act of sending a fraction of tokens to a wallet without a private key, resulting in the tokens being lost forever. This decreases the token's total supply, which over time increases the value of each token.

Every transaction on Bafe.io incurs a 10% fee, which is divided into two parts. The first 5% fee is distributed among all existing token holders, while the remaining 5% is added to the liquidity pool and burned. A liquidity pool is a collection of funds deposited by liquidity providers (LPs) on a blockchain network.

Bafe.io uses three functions in each trade:

  1. Static/Reflection: Many people believe that high annual percentage yield (APY) averages are one of the impermanent loss biases associated with staking for farming rewards. APY is a basic calculation of the return rate used in both traditional finance and cryptocurrency. Earlier buyers with high staking rewards often push out new cryptocurrency prospectors, trapping them in a high APY LP-farming cycle. This phenomenon is prevalent in the DeFi space. The tokens typically suffer from an inevitable valuation bubble, followed by a price crash. To solve this issue, Bafe.io implements the concept of static rewards, also known as reflection, to eliminate the farming reward problem.
  2. Automatic Burns: While burns at the initial stage of any protocol can be good, they cannot be controlled in any way. Burns that are managed by the team and promoted based on achievements help keep the community informed and rewarded. Therefore, Bafe.io plans to introduce a burn strategy that will benefit long-term users.
  3. Automatic Liquidity Pool: The automatic LP function hopes to become the key to Bafe's success. There is a function in automatic LP for token holders that works in two ways. First, the contract takes tokens from both the buyer and the seller and adds them to an LP, creating a stable price floor. Second, the penalty works as an arbitrage-resistant mechanism to secure Bafe's volume as a reward for holders.

Lastly, the total supply of Bafe tokens is 1 quadrillion. This makes it possible to have a vast number of tokens, allowing for greater flexibility and liquidity in the market.

In conclusion, Bafe.io is a community-driven deflationary token that aims to address the problems associated with farming rewards in the DeFi space. By implementing static rewards, automatic burns, and an automatic liquidity pool, Bafe.io hopes to provide its users with a fair and transparent ecosystem. The burning of a portion of tokens and the redistribution of fees among holders help to maintain the token's value, making it an attractive investment for the long term.

Disclaimer

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.

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