Altcoins seem to be the highlights of the times. With various altcoins seeing the light of day, let’s take a moment to introduce ScroogeCoin.
ScroogeCoin is a fork of EvergrowCoin that rewards users with $BUSD, a coin that is pegged to the USD one-to-one. This is an essential feature that might propel ScroogeCoin to the upper edge of the cryptocurrency rankings.
The goal of ScroogeCoin is to redistribute money back to the people who own digital assets rather than to corporate entities. The ScroogeCoin team believes the market for reflection tokens is worth a trillion dollars. They aim to be the most popular coin and community in this industry.
ScroogeCoin Code and Tokenomics
ScroogeCoin is a new generation of the reflection token on the Binance Smart Chain (BSC). Users will receive 8% in Binance Pegged BUSD for each transaction simply by holding $SCOOGE tokens, which will be automatically transferred to the wallet every 60 minutes. The total supply of ScroogeCoin is 1,000,000,000,000,000 tokens.
All holders receive 8% of the BUSD. The amount received is determined by the amount of SCROOGE held by the holder. 50 percent of SCROOGE coins are delivered to the burn address, 10% to the founders and staff, and the remaining one hundred trillion coins are sent to the marketing address. As the value of the coin rises, these coins will be destroyed, increasing the burn.
To create a consistent price floor, 2% of each transaction is remitted to the LiquidityPool for Pancakeswap. Every transaction has 4% of its value transferred to a Smart Contract for Marketing. There will never be any coins sold inside the marketing contract. They’ll be set ablaze. As the coin’s community awareness grows, the team may elect to use a portion of the marketing budget as a burn rather than marketing.
ScroogeCoin also keeps a buy-back reserve, where tokens are converted into BNB and safely stored in the ScroogeCoin contract. The MoonShot and AutoBoost buyback mechanisms work together to keep the flow going smoothly.
The team at Scrooge has also said that there aren’t any whale accounts in their ecosystem.
Core values of ScroogeCoin
As per the white paper published by ScroogeCoin, transparency, trust, community and longevity are the core principles of the company. ScroogeCoin has committed to comprehensive transparency in all elements of its community and development activity, as well as its security initiatives. SCROOGE’s security audit was conducted successfully, according to the white paper. The addition of Binance Pegged BUSD gives users additional confidence.
How to buy SCROOGE
For anyone interested in buying SCROOGE, they will first have to head over to Metamask.io and install the Metamask extension. You can follow the steps provided in the Metamask guide to set up your crypto wallet.
After that, go to PancakeSwap.finance and press the “Use PancakeSwap” button. Confirm the connection when Metamask asks for your signature. This is also something that Trust Wallet users should do. After installing Metamask (or Trust Wallet), users can send BNB from an exchange like Coinbase or Binance to their Metamask (or Trust Wallet) account. Users can then exchange their BNB for SCROOGE.
SCROOGE likewise planned an initial LaunchSale, but only for a small number of people. Participants in this sale will receive unique Scrooge Coin NFTs when the gaming site launches. Initial purchasers will also be included in the beta test, allowing them to have a firsthand look at the gaming platform before it goes live. Only the first holders will receive the special NFTs, and no one else will be able to copy or receive them. No one outside of the Scrooge economy will be able to access the gaming platform unless they are a holder. Scrooge will serve as the ecosystem’s money.
Future Roadmap of SCROOGE
By the end of the first quarter of 2022, ScroogeCoin plans to obtain over 5000 holders and social media followers. They also plan to start the burning process of the incoming money. By the fourth quarter of 2022, they plan to obtain at least 25000 holders and social media influencers. By the end of the year, ScroogeCoin also plans to start a Play-to-earn gaming mechanic.
If we go by the white paper provided on the Scroogecoin website, it does indeed look like a promising project. The market’s current behavior may slow things down for a new token, but how things may turn out for the future is something that is still up to speculation. New innovative projects are always welcome in the scene, given that trust is something that is difficult to build, especially in the digital verse. For more information, please visit the official website.
Disclaimer: This is a sponsored post.