Forever Burn is a new token built on the Binance Smart Chain, set to launch on November 6th, 2022. The project has a unique Super Burn utility that incentivizes holders with a positive chart at all times. The Super Burn feature constantly raises floor prices by burning through pooled tokens. Moreover, the burning method is not a rebase because it will only burn through the pooled tokens and leave the total supply unchanged.
The project aims to become a top-300 most-valued crypto project by 2023. Another important point to mention is that the project has completed its audit. The audit report is available in their whitepaper. Additionally, the project’s founder has also completed the KYC (know-your-customer) process, further adding weight to the project’s legitimacy.
Forever Burn utilities
The Forever Burn protocol conducts burns in two formats, Active and Passive.
Active burns mean manually burning tokens from the liquidity pool. Active burns raise floor prices by 20%-50%. However, the timing of the manual burn is decided by the CEO and the rest of the team members.
On the other hand, passive burns take place with each transaction. 4% of all transaction fees are burned, again to raise the floor value. The passively burned tokens are sent to a non-accessible address.
NFTs
Forever Burn will also launch 1000 unique NFTs (non-fungible tokens) on the Binance Smart Chain. Also, the base character of the NFT will be a fox, and different versions will have unique characteristics.
Furthermore, users can stake their NFT via the project’s dApp, and earn FBURN tokens. Users can mint their NFT on the Binance Smart Chain and deposit it to the staking pool. However, staking is only available to NFT holders.
Now, the project employs two types of staking. The first is flex staking, where users can stake and unstake their NFT at any time. Nonetheless, the APY is less for flex staking. Meanwhile, the other type of staking is locked staking where the APY is higher, as follows:
14 days lock = 120% increased rewards
30 days lock = 150% increased rewards
60 days lock = 200% increased rewards
90 days lock = 250% increased rewards
Burner wallet
Forever Burn will offer a wallet, called burner wallet, which aims to provide more privacy. The wallet will be available as a browser extension, and as a mobile application. The wallet has an anonymous transaction option through a mixer.
Moreover, it has automated buyback and burns 0.5% on each non-transfer transaction. Other features include non-custodial key management, cross-chain integration, easy NFT storage, and viewing options, and built-in fZ trade to swap using your credit, and debit cards or apple pay.
Forever Burn Tokenomics
Forever Burn’s total supply is capped at 1,000,000 $FBURN tokens. 66% of the total supply is locked for 100 years for MC inflation. 16% is allocated for Presale and Liquidity pool. 13% is allocated as a treasury for Exchanges, Strategic Partners, and Staking rewards. And 5% goes to the initial burn.
There is a 9% tax on transactions. 4% is burned. 2% goes to the liquidity pool as a provision for sustainability. Lastly, 2% goes to marketing, and 1% goes to the team.
Forever Burn has a clear-cut plan ahead of itself. The project plans to hold several burn events this year. In Q4 the team will also announce their high-staking-tier APY. The team plans to launch their Burner Wallet by Q1 of next year. Additionally, the team plans to be listed on a tier-1 centralized exchange by Q2 of 2023.
To know more about Forever Burn, you can visit their website, Twitter, Telegram, Facebook, Bitcointalk, or read their whitepaper.
DISCLAIMER: THIS IS A SPONSORED POST