MoonToken Introduces an Automatic Liquidity Protocol to the BSC

Project Reviews / 12.04.2021

MoonToken is an automated yield and liquidity generation protocol and cryptocurrency. The network leverages proprietary systems to create an ever-increasing liquidity base for the project. This approach provides the network with some exciting benefits that have spurred investor interests. Notably, the project has already secured over 6300 token holders and currently has a $4.7M market cap.

What Problems Does MoonToken Attempt to Fix?

There are a lot of problems that MoonToken attempts to rectify in the market. The platform’s technical specifications allow it to avoid some of the most pressing issues currently facing the DeFi and NFT communities. Specifically, MoonToken lives on the Binance Smart Chain (BSC), enabling new functionality and efficiency in the market. 

Congestion

MoonToken users avoid all the Ethereum congestion that has become a concern. The BSC is far more responsive than Ethereum. For example, the BSC has three-second block approval times. This is much faster than Ethereum’s current rate of around thirteen seconds per block. As such, BSC-related projects can scale up to meet the demands of the growing community.

Cost-Effective

Another advantage that MoonToken users inherit is fewer gas fees. Ethereum was coded to increase its gas fees as the network’s congestion increases. Sadly, this setup has left regular users and Dapp developers paying ridiculous gas fees as of late. MoonToken users don’t share these concerns because the BSC is structured differently, which is more conducive to growth.

Rug Pulls

MoonToken users avoid rug pull concerns as well. Rug pull is the term given to projects that enter the market with much hype but only a few days or weeks later disappear due to the developers removing all the liquidity. MoonToken’s developers have renounced their ownership rights, and all of the liquidity tokens for the network have been burned. Only the community controls the project from this point forward.

Benefits of MoonToken

MoonToken provides users with some benefits that are hard to ignore. For one, the project is designed to increase its liquidity consistently. This strategy creates a long-term footprint. Here are some of the other top benefits users gain when they join MoonToken’s ecosystem. 

Rewards

MoonToken users enjoy access to rewards just for holding tokens. Currently, a 2% transaction fee is automatically distributed to all MoonToken holders. This structure incentivizes growth because as the transaction values rise, the rewards paid out to users increase. 

Deflationary

Deflationary burning mechanisms allow developers to create added demand for their native tokens and avoid inflation. Early DeFi platforms suffered from inflationary issues due to the way they issued LP and reward tokens. Keen to avoid these concerns, MoonToken’s developers choose to remove a significant amount of the tokens in circulation over a predetermined time span. According to company documentation, 50% of the total tokens issued are to be burnt.

Secure

Another major benefit of MoonToken is its security-first policies. The developers have gone the extra mile and had the project audited by Tech Rate. Third-party audits provide investors with more confidence and help ensure that attack vectors don’t exist within a core coding platform. With this line of thought, developers intend to receive another third-party audit by Certik in Q3 2021. 

How Does MoonToken Work?

MoonToken combines a variety of popular DeFi features to create a unique UX. The network is structured to continually build up liquidity and the value of its native token. In this way, MoonToken offers long-term benefits to investors. Here are some of the core features that make all of this possible.

Liquidity Pools

MoonToken users can earn passive rewards leveraging the network’s liquidity Pools. A liquidity pool is a smart contract that users can lock their tokens. In return for providing liquidity to the pool, users are paid rewards. Interestingly, an 8% fee is automatically added to the liquidity pool. These funds remain locked forever. Consequently, the more people utilizing MoonToken, the more liquidity the platform retains. 

Governance

Community governance mechanisms are quickly becoming the new standard for DeFi because they help keep the community in unison. MoonToken is a community-owned platform that allows regular token holders to control its development via proposals. These proposals can cover the entire scope of operations, including fee changes, new token and feature additions, and more.  

NFT Marketplace

In the coming weeks, MoonToken will launch a full NFT marketplace. NFTs (non-fungible tokens) are different than regular cryptocurrencies in that they are one-of-a-kind digital assets. As of late, the NFT market has exploded in popularity. There are all types of NFTs in use currently. Some of these tokens are worth millions.

MoonToken

The MoonToken is the main governance and utility token for the network. This coin was designed to serve multiple purposes. You pay fees and receive rewards in MoonTokens. According to the projects tokenomics, there is a total supply of 1,000,000,000,000,000 Moon Tokens scheduled for issuance over the life of the protocol. 

PancakeSwap 

Those interested in acquiring MOON can do so by visiting PancakeSwap. PancakeSwap is the largest DEX on the BSC at this time. Here you can trade BNB for MoonTokens with ease. The platform requires no registration and is non-custodial, so you never have to send your coins to a public exchange wallet to participate in the network. 

Roadmap

Moon Tokens roadmap lists a bunch of exciting developments scheduled for the rest of 2021. For one, the token is scheduled for CEX listing in Q3. Additionally, Starting April 13th, you can get MOON on IndoEX via BNB/MOON and USDT/MOON trading pairs. There is also an ETH and MATIC bridge mechanism in the works. The end of the year will see the launch of an iOS and Android app.

To the Moon and Beyond

The development team behind the MoonToken concept has created a unique liquidity-driven approach to DeFi. It was wise for developers to launch this platform on BSC rather than Ethereum. Regular users are sure to enjoy the lower gas fees and the long-term liquidity strategies integrated into this project. For these reasons, you can expect Moon Token to continue to see rising adoption moving forward.

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site.

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.