Overmoon (OVM) is a community-driven token with an emphasis on climate change, Non-Fungible tokens (NFTs), and video games. It is a hyper-deflationary token with automatic rewards. The project was released in August of 2021. Overmoon is a decentralized platform that is supposed to be accessible to everyone. As the name suggests, the aim of the project is to go “Over the Moon.”
The team behind Overmoon (OVM) noticed the amount of money being pumped into space exploration, and asked themselves how can we go into space, without first appreciating what’s on Earth?
Charity towards climate change
One of the project’s goals will be to collaborate with organizations that are already well-known for their contributions to environmental protection. Climate change is causing irreversible damage today, and it is linked to other variables such as fires.
Climate change is already occurring, resulting in a steady rise in global temperatures and an increase in extreme weather occurrences. The impacts, when combined with severe droughts, heatwaves, and forest fires, have already had a significant influence on the environment. The donations towards climate change organizations will be one of the first use cases for the token.
Overmoon protocol
Overmoon (OVM) has three simple functions, namely burns, rewards, and liquidity pool (LP) acquisitions. For each transaction on the Overmoon network, 4% is redistributed to holders as a reward. To earn more Overmoon tokens, users only need to maintain the tokens in their wallets. Burns are essential to the token and will be performed in the right way and at the right time. There will be two types of burns: manual and automatic.
The liquidity pool acquisition is also an important element of the Overmoon platform. To begin, the contract absorbs tokens from sellers and buyers; the same tokens are then added to the LP, providing the token with stability and solidity.
Second, the penalty acts as a deterrent to referees, ensuring that the holders receive the volume of Overmoon as a reward. In principle, the additional LP provides more stability and support for the token’s minimum price. The idea is to avoid large decreases caused by whale token sales. All of this is an attempt to address some of the issues that have plagued prior DeFi tokens.
Liquidity is locked for a period of one year.
Tokenomics
Overmoon (OVM) will only ever have one quadrillion tokens in existence. 30% of the one quadrillion tokens were burned upon launch.
There is a 12% tax on transactions. Of the 12%, 4% is redistributed among holders, 4% is burned, while with the remaining 4%, the contract sells half of the commission in BNB, while the other half of the Overmoon tokens are automatically paired with BNB and added as a liquidity pair on Pancake Swap.
The project also has a buy-back protocol. At the conclusion of the presale phase, 35% of the total collected will be added to the liquidity pool and locked for one year, while the remaining 20% will be used to conduct manual buy-backs in phases. It will provide new investors with more stability and trust.
Once a larger amount of Overmoon tokens have been purchased through the buy-back, the team’s main purpose will be to perform a manual burn-through in order to limit the circulating supply even further.
Overmoon NFT ecosystem
To differentiate themselves from the most immature tokens and strengthen the Overmoon ecosystem, the Overmoon team believes it is critical to develop an NFT environment. Overmoon plans to launch its exclusive NFT collection, along with its very own NFT marketplace.
Additionally, the team also plans on launching its own video game. The game is titled Astropulsar, which is based on real characters but set in a fantasy context.
The NFT collection, marketplace, and the game are currently set to be launched in phase-5 of Overmoon’s roadmap.
To know more about the project, you can visit their website, Telegram, Instagram, or Twitter.
DISCLAIMER: THIS IS A SPONSORED ARTICLE.