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Dogecoin (DOGE) and Shiba Inu (SHIB) introduced a fresh outbreak in the cryptocurrency space. Since its massive acceptance and popularity, numerous investors are jumping on the spin, especially seeing that billionaire business magnate, Elon Musk built the foundation for the hype surrounding these memecoins.
Just like most memecoins, Baby Moon Floki was created in the context of Elon Musk’s pet puppy — Floki. The team behind the project believes Floki could become the first dog to hit the moon.
Created on October 3, 2021, Baby Moon Floki is the latest meme-inspired project to debut. Conversely, Baby Moon Floki comes with a clearly institutionalized intent which is usually missing in several meme projects.
According to its whitepaper, the native token FLOKI will drive the entire ecosystem of the hyper-deflationary token. BMFloki is a decentralized memecoin pegged to Binance Smart Chain’s BEP-20 undertaking the mission to bring popular cryptocurrency concepts to the mainstream.
What’s more, BMFloki introduces its holders to next-gen ideas including automatic rewards distribution, NFTs, decentralized exchanges, unique hyper-deflationary mechanisms, and so forth.
BMFloki: A Hyper-deflationary System With Smart Exchange Approach
Baby Moon Floki taps from the waves of memecoins but in a much bigger way. The memecoin premieres a hyper-deflationary system that has a smart exchange built into the ecosystem. BMFloki automatically sends rewards directly to its users’ wallets when they purchase FLOKI.
Another factor that distinguishes this memecoin is evident in the roadmap and its core values to demonstrate transparency and trust lacking in most meme-inspired cryptos. Essentially, these three pillars such as open communication, transparency, and trust are the guiding force behind the rapid growth of the newly launched cryptocurrency.
Similarly, its rising community is another testament, thus, indicating that BMFloki is in it for the long haul. Following its plan to build a community with full transparency, BMFloki token smart contract has successfully passed a security audit.
The maximum supply of BMFloki is 100 quadrillion and FLOKI serves as the key functionality of the reward mechanism of the project. This means for every active user transaction, a 2% BMFloki reward is guaranteed to the holder’s decentralized wallet only.
To facilitate more community usage and a healthy distributed network, holders are given more rewards as more FLOKI is actively used. Not only that, up to 20 trillion FLOKI will be burned to increase the value, slow down the inflation rate, and also reduce the total circulating supply.
The commission chart rates of the memecoin are as follows; every time an individual buys or sells BMFloki, a 12% commission is charged. Likewise, 6% of the token will be burned and returned to liquidity while 4% will go to the marketing address, and 2% are shared among the holders.
As per BscScan, BMFloki records 39,044 holders with a total of 132,456 transactions and a market volume of $10,237.73.
BMFloki Protocol AutoBoost
The AutoBoost Protocol is designed by Baby Moon Floki’s team in order to maintain stability. Built mathematically, the protocol helps to carry out variable buybacks which are based on volume. AutoBoost differs based on the transactions in the last 24 hours and will keep adding based on the volume.
Each time a sale occurs with a BMFloki token, AutoBoost buys back variable amounts. This function is a cutting-edge feature that is more advanced than the conventional buyback system.
The token’s ecosystem has been designed in a way that will propel dynamic use cases and longevity as well. Firstly, FLOKI SWAP allows users to swap any BEP20 token for another one. It is powered by one of the largest DEX in crypto, PancakeSwap, and plays the role of the foundation on which BMFloki will build more functionality and use-cases for any FLOKI holder.
Secondly, FLOKI SWAG is the push FLOKI needs to become mainstream. It allows any FLOKI enthusiast to represent BMFloki with the official merchandise sold by a completely ownerless, non-profit, and transparent organization. The proceeds obtained from FLOKI SWAG will be utilized to promote and support the development of the BMFloki community and platform.
The fast growth of non-fungible tokens (NFTs) has resulted in the mass adoption of the sector into many crypto projects. Following this, FLOKI NFT will be the official BMFloki community’s NFT decentralized marketplace.
In addition, FLOKI tokens can be staked as a means for users to receive exclusive NFT rewards and digital collectibles featured by artists that are also part of the BMFloki community. Above all, the NFT marketplace will enhance participation in regular contests for artists to exhibit their work, hence, have the community vote on what should be added to the marketplace.
Lastly, the BMFloki Paw Wallet lets users track their rewards gained from wallet balance, reflections, coin valuation, and more.
Standing firm on the promise to build a strong ecosystem and go beyond mere concepts of a memecoin, Baby Moon Floki has the following plans outlined under four phases:
- Website launch
- 1000+ holder growth target
- Fair launch
- Coinhunt and Coinsniper promos
- Influencer marketing push
- Smart contract Audits
- CoinMarketCap listing
- Coingecko listing
- Website redesign
- 5,000+ holder growth target
- Baby Moon Floki Swap development
- NFT Development
- Influencing/Celebrity onboarding
- 25,000+ holder growth target
- Centralized exchange (CEX) listings
- Tesla giveaway
- Solid partnerships
- Further marketing plans
- 100,000+ holder growth target
Where To Buy FLOKI
Baby Moon Floki is currently listed on crypto data giants CoinMarketCap and CoinGecko. Additionally, FLOKI is available for purchase with a set 11-12% slippage on the most popular AMM on BSC, PancakeSwap. Similarly, investors can also buy, trade from Hotbit or the FEGex trading platform.
While the team is working behind the scenes to include more DEX and CEX crypto exchanges in the future, individuals can acquire FLOKI from Bitmart as well. This shows the team has been able to accomplish most parts of phase 1 and 2 roadmaps.
Conclusively, thriving on its advantageous partnerships with TechRate, Trident Charts, CoinMarketCap, BscSacn, Pancakeswap, and CoinGecko, Baby Moon Floki is geared to attain its vision. On top of that, the BMFloki team plans to launch a Tesla giveaway once its holders hit 100k holders.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.