Bonfire is a reflective deflationary crypto token with auto-liquidity generation designed to increase in value over time through a steady burn of existing supply. This allows you to seek shelter against the volatility of the market by investing in a token that has naturally stabilizing properties.
Every transaction (buy, sell, or transfer) incurs a 10% tax. Half of this (5%) is sent to the PancakeSwap v1 liquidity pool, while the other half (5%) is reflected back to token holders proportionally based on their holdings. A portion of the reflection is sent to an inaccessible wallet, yielding an automatic burn by removing tokens permanently from supply.
This tokenomic setup stabilizes the price in several ways:
- The burn effect permanently and automatically reduces the circulating supply of tokens, increasing the value of all remaining tokens
- The tax incentivizes long-term holding and penalizes those who sell their tokens
- An additional impact of the tax is the increase in cost and difficulty to day-traders who would otherwise attempt to manipulate the market price
The current utility of Bonfire is as an investment vehicle and transactional currency. Additional use cases are being developed by the team, including a Social Network, the Firestarter ICO Launchpad, the FireSwap exchange platform, the Bonfire NFT Marketplace, and the Bonfire app. These future utility platforms will reward those who hold and also create an ecosystem and payment network for Bonfire to be used as a currency for goods and services.
The future of Bonfire is bright. Come and join the inferno!
What Sets Bonfire Apart
There are plenty of tokens out there in the world of cryptocurrencies. So what is it that makes Bonfire special? Bonfire has key characteristics that set it apart from other tokens, and it is building an ecosystem of applications that will drive lasting interest and demand into the future. Here’s a quick rundown of the major things you should know:
Bonfire is a better name for branding than other tokens in the same space. Because of our versatile name, as our token and company grow we will be able to broaden our user base easier and grow faster than other tokens.
Social Media Platform
Bonfire is crafting a social media platform. This is the central piece in the future Bonfire ecosystem of applications that will give our token utility and lasting value. While this platform will be geared toward crypto specifically, which makes it niche, we see now that crypto will expand to include everyone at some point in the future. So it won’t be niche forever.
Additionally, we see the power of social media by the size of companies like Facebook, Twitter, TikTok, etc. It is possible to imagine a day some years down the line when Bonfire could be a part of that list as well.
When it launches, the social media platform will facilitate transactions and advertisements paid for in Bonfire and will also have educational tools to help people learn about and get into crypto, making Bonfire a prime launching point for new entrants into the space.
Firestarter will be a launchpad for new token projects that are fully vetted in advance of their initial coin offerings (ICOs). What’s more, it will be designed to allow for releases to be as fair and decentralized as possible.
But what gives this real value for Bonfire is that there will be a priority system to determine the order in which people can invest in these new projects. And that priority will be based on each person’s Bonfire holdings. This design will create long-term demand for people to buy and hold Bonfire and will stabilize price.
NFT Marketplace and Minting Tools
Non-fungible tokens (NFTs) are a special class of token that cannot be duplicated or recreated. They are awesome for digitally storing and validating the authenticity of all sorts of art, music, books, and other digital creations and intellectual property. The use cases are so limitless for this technology that most of them haven’t even been considered yet.
Many tokens are working on similar platforms, but what makes Bonfire’s NFT marketplace stand out is that the team wants to fundamentally change the way NFTs are minted and traded to make them non-damaging to the blockchain on the whole, which is an existing issue that no one else is addressing as of yet.
FireSwap will essentially be an exchange platform in which Bonfire would be the primary currency for trade. Other coins and tokens would be listed for swapping and it would facilitate easier entry and exit for Bonfire.
There’s more competition among other tokens for this space, but this platform provides real lasting value when considered in addition to the other platforms the team is building.
This mobile application will include the ability to purchase Bonfire directly using card and fiat payments. It will also have features that allow you to track your Bonfire holdings and important statistics related to those holdings. It will lower the barrier to entry for many people while Bonfire seeks to be listed on more exchanges.
Additionally the app provides an easy way for the team to disseminate information, news, and updates about the project to the community. They can also gather feedback and mobilize community action all in one place.
Last on this list, but first in our hearts. The community is the real power behind Bonfire, now and forever.
Bonfire’s community has already shown its strength and influence, pushing the core team to perform at peak levels and keeping that pressure on to ensure they deliver the best possible products.
It has also effectively spread the word about Bonfire to many in the crypto space, growing in size rapidly and facilitating the team’s ability to continue to build Bonfire into the future.
This community isn’t going anywhere, and neither is Bonfire!
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The content on this site is for informational and educational purposes only and is not intended as a substitute for professional financial advice. As always, DYOR/Do Your Own Research.