What Is Gnome Token(GNOME)?
Gnome Token any fast moving industry innovators look to push the boundaries; new technologies, new ideas, new approaches to previously unsolvable problems. As a community we should cherish and reward those who look to better the community. However, where there’s money, there are people whole sole focus is to strip you of your cash. In the early part of 2021, crypto saw unprecedented levels of new participants; the barrier to entry ever decreasing and the investment opportunities ever increasing. For each new project that offers a legitimate innovation, ten new projects sprouted, all promising unsustainably high APY’s or tokenomic models solely focused on rug pulling for the owners benefit.
Gnome Token drains the polluted swamp of uninnovative tokens by utilising cutting edge Smart Contract functionality. Firstly, this incentivise holding Gnome by providing investors with a novel BNB reward mechanism. This coins reward mechanism is verifiable transparent and fair, through your distinctive dApp users are provided with BNB rewards. This is a unique and never-seen-before instrument that provides compelling rationale to obtain, hold, and be rewarded by GNOME. Secondary to rewards in BNB, Gnome Token implements a reflection mechanism that rewards all the holders of the token with additional passive rewards in GNOME.
Many projects have demonstrated this is a solid and robust mechanism to incentivise holding tokens. Gnome Token vision couples a passive reflection mechanism alongside a unique BNB reward mechanism, providing the most robust rationale for obtaining a newly launched token on BSC that has been observed to date. By providing a consistent and predetermined burn of GNOME, this rapidly achieve a deflationary tokenomic model. Tokens are burnt upon every transaction. In short, as the popularity increases, the supply decreases proportionally.
Gnome Token Storage Key Points
|Coin Name||Gnome Token|
|Circulating Supply||800,000,000.00 GNOME|
|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|
|Official Project Website||Click Here To Visit Project Website|
Gnome Token take a small fee for using using the staking contract. This helps prevent abuse and manipulation of the contract. To register and stake, you need a minimum of 2000 GNOME. 1000 GNOME is taken as fixed fee, and you need to stake 1000 GNOME.To stake (if you are already registered), you only pay a 1% tax. To unstake, you pay a 2% tax on your GNOME. You should know, developer wallets are not excluded or exempt from any fees. Developer wallets are excluded from the staking contract and cannot receive BNB rewards – these are for the community alone.
This fee is distributed toward different mechanisms:
- 5% is sent to the staking contract so that GNOME hodlers can receive BNB rewards. This robustly incentivises hodling.
- 2.3% is provided as liquidity for the PancakeSwap LP pool. By topping up the LP pool, keep the price moving in the right direction.
- 0.2% is immediately burnt. This keeps the supply of GNOME in-demand and highly deflationary.
Rug pulling, is when a rogue developer removes liquidity from a project – essentially running away with other users funds. There are a number of ways to protect investors from being rugged. At Gnome Token, they have prevented any kind of rug pulls so that you can invest with confidence that your investment will not become worthless overnight. By having a time-locked multi-signature wallet, of which community members will be invited to become a signatory to, they can guarantee no funds will be rugged.
Automated Market Maker (AMM)
An innovative alternative to the traditional ‘Buyer & Seller’ model, and a key part of the De-Fi marketplace. Instead of trading with another market participant, you interact with the liquidity pool. A ‘constant product’ mathematical formula then calculates how the buy or sell impacts the price. Liquidity is not unique to crypto, but the way it’s used most certainly is. Broadly, liquidity refers to the ability to make a trade without impacting the price. More liquidity, less impact on the price. Less liquidity, more slippage, resulting in a less favourable execution price of your trade.
Decentralised Applications (dApp)
Gnome Token An application which sits upon a blockchain. These applications are outside the purview of any individual, the execution of the application is therefore reliable and consistent. See Gnome Staking dApp. A block-chain based set of rules that automatically implements the protocols without need for intermediaries. A location in which market participants can buy, sell, and list assets. Notable examples include; Coinbase, Binance, Pancakeswap, Uniswap etc.