WenLambo – Introduces DeFi NFT Services with a Charitable Twist

Project Reviews / 13.06.2021

WenLambo is a deflationary cryptocurrency and NFT marketplace that combines a charitable twist. Specifically, WenLambo donates 33% of all transaction fees to charitable organizations. The developers leverage a deflationary token and a line of NFTs, celebrating modern culture while addressing pertinent sociological issues to provide users with a unique UX.

What Problems Does the WenLambo Attempt to Fix?

WenLambo attempts to eliminate a major concern in the NFT market. The platform is catered towards influencers and artists who seek to utilize NFTs to launch products. Non-Fungible Tokens (NFTs) are one of the fastest-growing sectors in the blockchain sector.  

These tokens differ from regular cryptocurrencies in that they represent something unique. As such, they are not valued based on their market cap. Instead, their value is derived from the individual’s personal desire and the scarcity of the project.  

Today, NFTs are used to represent nearly anything. Lately, they have started to be used to issue albums and other digital products. Recognizing the potential of this market, WenLambo introduces sections specifically for celebrities, music artists, and more. In this way, these individuals and businesses can seamlessly issue NFTs. Notably, the platform has +10.5k holders at this time. 

WenLambo Features

There are a lot of features that make WenLambo worth checking out. For one, the protocol has a powerful community. You get insight and your questions answered directly via the platform’s social media channels. Users can also set forth and vote on the future developments of the platform via the community governance system.

Charity

One of the coolest features of WenLambo is its philanthropic perspective. The developers wanted to create a decentralized monetary system that could also help make the world a better place. To accomplish this task, the network added its charity tax. Quarterly, 33% of the fees collected go to charitable causes.

The network allows users to put forth these organizations as part of its community governance mechanism. Users need to hold Wenlambo tokens to participate in voting. Notably, the more Wenlambo you have in a network wallet and the more weight your vote holds. Community governance mechanisms are becoming standard in the DeFi community because they provide an efficient way for firms to provide decentralized leadership to their community. 

Liquidity

Another advantage gained from WenLambo is liquidity. The platform has already seen listing on some top-performing exchanges. You can find the platform’s native governance token, Wenlambo, listed on P2P, CoinGecko, and CMC. The developers hope to expand the platform’s listing onto other exchanges shortly. 

Investor Protection

As part of their investor assurance strategy, WenLambo has extended its liquidity lock for another 180-days. Liquidity locks help prevent rug pulls in the market. As such, they are quickly becoming a requirement of experienced DeFi investors. 

Rewards

WenLambo users enjoy a variety of ways to win rewards. All Wenlambo holders receive Airdrops monthly. The system takes 4% of the 10% transaction fee and airdrops these tokens to all holders. The platform also holds weekly giveaways as another means for users to stay engaged and excited. 

Security

WenLambo integrates advanced blockchain security protocols. The network leverages a layered architecture and highly reliable building blocks to provide users with a responsive experience. The network integrates the full security of the Binance Smart Chain

Deflationary

Wenlambo introduces a unique deflationary protocol to provide developers with more control over the token’s value. Each time you buy or sell Wenlambo, a percentage of the tax goes to a burn contract. This strategy helps burn through the LP tokens held by the dead coin burn wallet.

WenLambo Mechanics

WenLambo was built on the Binance Smart Chain (BSC). It’s designed to cater to the growing BEP-20 community. BEP-20 is Binance’s version of the ERC-20 protocol. The Binance Smart Chain is a fourth-generation blockchain that supports full DeFi capabilities. You can stake, farm, issue NFTS, and more on this advanced blockchain. 

Fee Structure

The WenLambo fee structure revolves around a 10% Tax. This flat tax then gets broken down into multiple payments to various components of the system. Specifically, 2% gets used for liquidity and burns. Another 4% does to the chosen charities, and the last 4% is Airdropped to all holders.

Liquidity Pools

WenLambo liquidity pools enable users to stake their coins and earn passive rewards. When you participate in a liquidity pool, you agree to lock up your tokens for a time. In exchange, you receive an LP token that represents the value of the pool. These tokens go up in value as more participants provide liquidity to the pool. The system is set up to burn 100% of LP tokens. This strategy helps to keep the Wenlambo token value stable.

WenLambo

The native governance token of the platform is WenLambo. This deflationary token operates on the Binance Smart Chain as a BEP-20 coin. As such, you can store or trade the token in all BEP-20 compatible wallets, including MetaMask. Wenlambo can be sent globally in seconds for a fraction of the cost of sending ETH. 

WenLambo History

The WenLambo Whitepaper was published in May 2021. Since that time, WenLambo has continued to see growing adoption. Those interested in participating in the network can find more info here. Additionally, this is the platform’s BSC contract address. Investors should always verify the contract before committing funds, as DEXs allow anyone to create a token. This step will help you to avoid any fraudulent accounts.

WenLambo Market

Wenlambo recently released their Roadmap, which talks about the upcoming release of their NFT Market. The WenLambo Market enables NFT collectors to buy, sell, and trade their tokens. This DEX is set to provide much-needed liquidity to the market. The system will leverage an escrow protocol to provide a true peer-to-peer trading experience. 

WenLambo – Blockchain Charity Expands

The WenLambo concept takes the blockchain charity concept and expands on it by introducing DeFi and NFT features. This combination of services is sure to entice investors seeking to enter these markets easily. For these reasons, WenLambo is positioned nicely. 

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.