What Is Rainbow Token(RAINBOW)?
Since the crypto bull run of 2021, there has been a surge of activity and interest on the Binance Smart Chain network. Spearheaded by SAFEMOON, Rainbow Token are now witnessingm hundreds of projects being launched every day that are each wanting a seat at the BSC marketplace table. All these projects are competing, and the noteworthy ones have offered a unique selling point that makes them stand out above the rest.
Rainbow Token is a solution that combines the seven best protocols in the BEP-20 token crypto space, to create a truly powerful crypto: RAINBOW. As a testament to how powerful $RAINBOW already is, coin sold $210,000 (500 BNB) worth of tokens in your DxSale presale in under 6 minutes and had over 1,000 holders immediately after your launch.
Rainbow Token Storage Key Points
|Coin Name||Rainbow Token|
|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|
Rainbow Token Each transaction is taxed 7% which is split into seven equal portions and divided across the seven features. The smart contract discourages selling by taking a 14% tax on sells to the PancakeSwap liquidity pool, and it further discourages whale dumping using a mechanism called anti-whale tax (this is explained in greater depth further down). On sells, 1% of the transaction is burned, 1% is reflected and 1% is pulled into the lottery side-pot. The rest of the taxed amount is then split evenly across the remaining protocols (buyback, charity, liquidity, and marketing).
Why is this good?
Rainbow Token the supply dries up, the demand will increase which results in tokens that you hold to go up in value – making $RAINBOW a good long-term investment. Rainbow Token orange protocol is your buyback function. A cut of tokens is collected by the contract and sold into BNB to buyback tokens at a later stage. It collects the 1% taxed tokens on each transaction, storing them inside the contract, so that whenever a sell is executed a portion of this buyback amount is used to automatically purchase tokens back from the liquidity pool. These purchased tokens are then immediately burned. This function can automatically trigger on each sell and can also be used manually to spike up the price of $RAINBOW.
Whales dumping tokens creates uncertainty and can usually result in further panic sells from other investors looking to exit prematurely. To help alleviate this fear, Rainbow Token have built a mechanism called anti-whale tax (AWT). AWT is a temporary tax bracket of 21%, imposed after 500 billion $RAINBOW has been sold. This is to make whales think twice before they decide to sell large proportions of the total supply that can consequently have a negative effect on price. It is important for everyone including your whales to be able to participate and control their tokens like everyone else. Having said this, this coin want everyone who becomes a part of $RAINBOW to be responsible, especially your whales.
How it works
Rainbow Token smart contract tracks the sell histories of each individual wallet within a 24-hour window. After a wallet has sold 500 billion $RAINBOW within this time-frame, we will subject that wallet to a 21% fee for the next 24-hours. This means if a whale decides to dump their entire bag, a lot more of the tokens get driven into the project – greatly strengthening it. In conclusion, the optimal – and benevolent – way for a wallet to sell off is in smaller increments over time.
The reason Rainbow Token went with such a high supply is so people can watch their balances change noticeably with the reflection rewards, as this is a lot more satisfying than fractional changes. The contract prevents any further mints from taking place meaning that it is impossible for the supply to ever increase. There are NO team wallets or team allocated funds, so this project is launched fairly to everyone.