Cake Monster Unveils Massive Supply Burn for MONSTA Crypto Token January 27, 2022 January 27, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 27, 2022 by Kelly Cromley

Cake Monster Unveils Massive Supply Burn for MONSTA Crypto Token

Cake Monster, a new decentralized finance (DeFi) platform built on the Binance Smart Chain (BSC), has announced a ground-breaking token supply burn. From the beginning, the Cake Monster crew has established themselves as economic innovators. The project’s economically and technologically revolutionary approach combines the purchase of a hyperinflationary native asset ($MONSTA) with the creation of a non-correlated reserve asset ($CAKE). After nearly seven months, the procedure has continued to demonstrate the theory’s validity and is operating flawlessly.

The monster token is a BEP-20-compliant cryptocurrency that is utilized only inside the Cake Monster ecosystem. The token’s initial supply is ten billion. The ultimate supply, however, will be 1 million (0.1 percent) of the original token supply as a consequence of the monster burn. 30% of the tokens will be used for community interaction, marketing, and the airdrop, 10% for the team, 50% for the presale, and 10% for the general sale.

Cake Monster ($MONSTA), a DeFi protocol on the Binance Smart chain, focuses on providing players with a customizable, complex, and automated dividend yield and incentive system. It is the first protocol to provide an expanding Gravity Vault CAKE Reserve that is exposed to all $MONSTA holders in exchange for $CAKE. A minor transaction and proof of life tax produce the reserve (once every fifty days.) This guarantees that the overall supply of $MONSTA is continuously and fairly deflated. The reserve is rapidly expanding, with average monthly APYs well over 500 percent and over 188K $CAKE in the vault already. Over 20% (20%) of the entire supply has been burnt, totaling over two billion $MONSTA tokens. This is an exceptional feat for a new protocol to accomplish in such a short period of time in the present market.

With less than a year and a half remaining before the conclusion of the first cycle, the continuous hyper-deflation (token supply burn) is likely to heat things up, pushing the price of $MONSTA higher as supply declines. This, in turn, will enhance the reserve’s growth rate and hence demand for $MONSTA, resulting in a possibly volcanically virtuous cycle for token holders. The platform, however, does not end there, since supply is likewise elastic. Once the first cycle is complete and the reserve contents are dispersed to $MONSTA holders, a new cycle is initiated, and holders of $MONSTA from prior cycles are reissued.

The re-issuance will be proportional to their holdings at the conclusion of the preceding cycle. The protocol’s heart begins to beat again; hyperinflation and reserve expansion resume with the addition of residual liquidity from cycle one to the news cycle. Cake Monster is brimming with opportunities to earn, explore, and have fun. Already implemented are Crumbs, Kitchen Making, Cashout of inactive accounts, Diamond Claw NFTs, and the Monsta Party NFT and P2E platform (the first NFT and P2E platform to be launched and created from outer space… the video is fantastic.)

Once deployed, holders of $MONSTA will be paid for their commitment, which may have a favorable effect on the market and the reserve’s growth pace. The possibility of a centralized exchange listing is further strengthened by the possibility of easy technological solutions to the transaction tax. Numerous lottery games are in development, but the first to be launched is named “Eternal CAKE.” Active diamond claw NFT holders will be eligible to purchase a lottery ticket via the Eternal CAKE lottery. Every three days, the numbers will be drawn. If a player wins, he or she may collect their winnings. If no one wins or if the winner does not collect their reward, the $CAKE is returned to the pot for the subsequent prize draw. This implies that some potentially delicious and huge jackpots are available to be won.

A lottery ticket that you have minted (or subsequently acquired from a marketplace) never expires. In other words, it entitles the owner to future Eternal CAKE lottery drawings. This new feature of the Monsta Party NFT platform is named “Rob A Monsta” (RAM). It’s a P2E (play to earn) game that rewards active Monsta Party members while penalizing inactive members. All-Party Monstas that have been fed by their owner receive $MONSTA dividends in perpetuity, even if they are never fed again. However, active players (those that feed their Party Monstas) will be able to collect any pending $MONSTA dividends for Party Monstas that are not being fed via the use of a “robbery.”

Following a recent decision by community members, a new reserve asset (BNB) will be introduced to the protocol, making it multi-asset. This is projected to result in increased resilience and chances for cooperation and community progress.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.