What Is BankEth (BANKETH) ?
BankEth (BANKETH) is an experiment in decentralized finance (DeFi) coupled with alternative tokenomics. To date, most projects and their accompanying tokens rely solely on market price. As the wider blockchain community has evolved, it has seen many variations and implementations of this traditional approach and developers have now started exploring alternate protocols where burning of tokens, airdrops, staking and other methods have forked away from the standard way in which tokens have been used and traded on the contract level.
BankEth (BANKETH) One of the newer and more popular protocols/implementations is where users can increase their overall holdings and percentage of the supply by simply holding. Several projects leverage hard-coded mechanisms within their protocols/contracts to either reduce the overall supply via token or coin burns or through transactions and wallet-to-wallet transfers.
BankEth (BANKETH) In some cases, these protocols also provide a dividend to the holder through the use of a ‘redistribution’ which occurs on the contract level. These existing models could theoretically increase the value of a user’s portfolio, however since the dividends that are being redistributed are in the native token traded, the actual value and outcomes hinge entirely on the ability of the native token to maintain and/or increase its value. So, in reality, the user is entirely dependent on the success and longevity of a project and accompanying native token alone; rendering the redistributed dividend worthless in the event of failure.
BankEth (BANKETH) Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | BankEth |
| Short Name | BANKETH |
| Circulating Supply | N/A |
| Max Supply | 1,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Objectives
BankEth (BANKETH) It has always been the goal of the BankEth Protocol to be a user-friendly and frictionless introduction to the world of decentralized finance (DeFi) by providing access to some third party products which are well established and recognised by the community. Our intention is to leverage the reflections that are generated into the dividend contract (vault) and to give users the opportunity to decide whether or not to either claim their reflections, re-invest for more of the native token or to stake (lock) their holdings for further reflections.
Dashboard
BankEth (BANKETH) As far as the mechanics behind reflections, decided the most responsible thing to do was to develop and deploy own implementation of the Eth reflections process. They have created a unique dashboard dApp filled with features with all of these provisions included. The good thing about doing it this way is they can have the feature fully audited and implementation will be available for the public to see in the contract on Etherscan. It will also not be able to be changed by any third party.
Anti Dump Mechanism
BankEth (BANKETH) wanted to employ some kind of unique, Anti-Dump, time-locked wallet mechanism where all sales are limited to an aggregate summation of ≤ 0.2% of the total supply per wallet, every 24 hours. This is designed to hopefully mitigate volatility, limit large volume swing trading and whale manipulation.
Vesting
BankEth (BANKETH) In the initial phases of any project launch exposure is key. It is important to get the name of the project out there and this comes at a cost. Funds to cover such processes need to be either budgeted for or collected through other means.
Bankswap
BankEth (BANKETH) is intended to provide a more streamlined pathway for participants to acquire BankEth. Even though most people are familiar with Uniswap, for many the process of visiting a thirst party DEX, & making sure they have the correct contract can be a daunting and cumbersome process. Having a native swapstation is convenient and easy to use
Internal Staking & Customisable Redistribution
BankEth (BANKETH) There are two components of relevance to this concept. Firstly, there is the router and secondly the staking pool. The router is responsible for the allocation of dividend tracker tokens. When a holder wants to stake their tokens they send them to the router and (depending on the lock-up period) the router allocates them a bonus token. The reflections that are received are the allocated tokens plus the bonus tokens.
IN THE MOST SIMPLIFIED TERMS POSSIBLE THE STEPS ARE AS FOLLOWS
- Banketh taker sends tokens to router.
- Router allocates bonus depending on lock up duration.
- Router sends staked amount plus bonus to pool.
- Staker can receive reflections on staked amount + bonus.
- Stake can be released after lock up duration has passed.
- Bonus % is guaranteed, however returns still predicated on volume.