Galaxy Heroes Coin Seems to Have The Right Mix to be a Community-Driven Token
The rise of DeFi, NFTs, and Meme token culture has given a very strong push to the crypto industry, there is no argument in that. But in the midst of all this, it seems that everyone seems to jump the bandwagon. New tokens are being launched on a daily basis. Every new creation is hailed as the best thing to hit the market. It seems today that tokens are being created for the sake of tokens, with nothing to back these up.
We found that Galaxy Heroes Coin differs from others. A coin designed to be handled by the public, the community-driven token has the right set of qualities. But what are these? We explored the coin to find out just that.
Based on the popular Binance Smart Chain, Galaxy Heroes Coin (GHC) solves a very crucial step immediately. Ethereum, the largest DeFi enabled blockchain network, is infamous for its high transaction costs. Selecting the smart chain, GHC makes it economical for its users to transact and take part in DeFi activities. The advanced security and other features of BSC also make it easier for the developers to incorporate upcoming utilities like gaming and NFTs.
All transactions are taxed 10% by the governing smart contract. While this seemed a bit high at first glance, the distribution of the tax makes it worthwhile. 3% of the transaction tax is diverted to the liquidity pool and ensures that trading activities can always occur. 2% is set aside for future developments of the token and its ecosystem. A further 2% is reserved for marketing purposes and another 2% is dedicated to a buyback program. The last 1% is for Reflections, a static reward program for token holders.
The liquidity pool and Reflections have become a major feature of the GHC, where these taxes are essential for the community. A good token that faces liquidity issues will eventually collapse in the market. The liquidity tax makes sure that there is enough GHC for trading activities. Reflection tax is distributed amongst token holders as an incentive for their commitment to the coins. The longer they hold GHC, the more savings they generate. At the same time, the buyback program helps in creating a deflationary economy by taking 2% of all transactions made and burning the coins, effectively removing them from the market supply and creating a shortage in the long run.
Apart from these, GHC has other built-in features. The coin has an anti-whale feature that prevents large token holders. Each coin holder is capped at only 0.4% of the total token supply. This leads to a fair distribution of the coins. Topping it off is the anti-bit feature that resists massive sell-off using trading bots, used in typical dumping schemes by profiteers.
GHC was launched at the end of September and has already gained momentum, thanks to its community-oriented features. GHC has managed a market cap of $90 million. Out of the fixed supply of 1 quadrillion, 42.3% are set aside for a private sale. The token is already available to the public in a dozen major crypto exchanges, such as BitGlobal and HotBit.
The development team behind Galaxy Heroes Coin has already set up a staking farm to tap into the DeFi sector, with plans that include a full-fledged gaming app (entering the GameFi market) and an NFT marketplace to trade the unique GHC based tokens. Further down the road, the team also intends to allow other communities to connect with GHC through a planned Ethereum bridge.
The post Galaxy Heroes Coin Seems to Have The Right Mix to be a Community-Driven Token appeared first on Bitcoin Garden.
OhNoCrypto
via https://www.ohnocrypto.com
Andrey Sergeenkov, Khareem Sudlow
