What is Yummy?
Yummy (YUMMY) is a project with a noble aim of positively impacting the world while maximizing returns to its token holders through exceptional tokenomics. The project places emphasis on complete sustainable strategic growth decisions, transparency, and innovative marketing campaigns, ensuring that Yummy reaches its full potential. Yummy's primary objective is to deliver value to holders through its Growth Fund while contributing towards solving some of the world's pressing issues such as donating to Binance Lunch for children.
The Yummy project has recently undergone a significant transformation, converting from Version 1 (V1) to a new brand smart contract and introducing Yummy version 2 (V2). A smart contract is a self-regulated contract with the terms of the agreement between traders directly written into lines of code. The creation of Yummy V2 is attributed to the high liquidity in Yummy V1, which makes it harder to move the crypto price and capitalize on positive announcements. Liquidity in crypto indicates the efficiency with which an asset can be converted into currency without affecting the market price.
According to the data available in the whitepaper, Yummy's market cap is currently at a low level, so reducing the liquidity percentage makes sense. However, the Growth Fund remains a vital part of the V2 ecosystem, seeking to maximize Yummy holders' returns through daily buyback and burns. Coin burning permits users to remove tokens from circulation, reducing the number of coins in use.
Furthermore, V1 accumulates Yummy, and once it hits 3 billion, it trades the token on the open market. While this helps fund the development wallet, it raises a few problems with the open market trade. The V2 contract seeks not to trade at a specific interval, and Yummy can be accumulated in the contract to get traded, burned, or allowed to sit there with no fixed schedule.
Once Yummy V1's liquidity is locked, existing holders cannot receive V2 token airdrops. V1 holders must send their tokens to the contract address to convert them to V2. If any token holders fail to convert their V1 token into V2 during the initial conversion window, they have five months as a grace period to make the conversion.
Yummy has created 10,000 NFTs called Yummy Dogs, each with hundreds of possible traits, and each NFT is unique, with traits randomly assigned at the time of minting. Owning a Yummy Dog grants access to the Yummy ecosystem, including additional staking rewards, educational content, and more. Additionally, Yummy aims to have exceptional tokenomics, burning about 15.1 billion tokens from the 6% contract tax. The YUMMY token operates on BEP-20 and ERC-721. BEP-20 is a token standard for the Binance Smart Chain (BSC), an evolved ERC-20 standard. ERC-721 is an open standard to build unique tokens on the Ethereum blockchain.
Yummy was introduced on May 1, 2021, and has a maximum total supply of 1,000,000,000,000 YUMMY tokens. The Yummy project's team comprises passionate individuals committed to making a positive impact in the world.
In conclusion, Yummy is a project with a unique vision of combining sustainable growth, transparency, and innovative marketing to deliver value to its holders and contribute to solving some of the world's pressing issues. With the introduction of Yummy V2, the project seeks to address liquidity concerns and maximize returns to its token holders through daily buyback and burns. Furthermore, the project has introduced Yummy Dogs, providing additional staking rewards and access to the Yummy ecosystem. Yummy's exceptional tokenomics, burning about 15.1 billion tokens from the 6% contract tax, is a testament to the project's commitment to delivering value to its holders. The Yummy team comprises passionate individuals committed to making a positive impact in the world, and it would be interesting to see how the project evolves in the future.
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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