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Binamon Revolutionizes the NFT Gaming Experience with Deflationary Tokens

BUENOS AIRES, ARGENTINA / ACCESSWIRE / June 19, 2021 / Launched in 2021, Binamon is a blockchain-based game representing a metaverse loaded with digital monsters. In just 48 hours of its launch, users have burned more than 6% of the circulating supply creating exclusive NFTs.

Blending NFT gaming and blockchain technology builds an interactive community where users are bonded with NFT characters possessing unique attributes. Some of the gaming modes that Binamon integrates include a multiplayer option, collecting Binamons, and Battle rounds.

How it Operates

The monster characters wield different types of powers ranging from attack, hompower, class, and element. Therefore, to receive these digital monsters, users need to acquire the $BMON ERC-20 token and pass it through its smart contract known as Booster.

The cards have a limited supply since in each Halving of Binamon, the price of the booster pack increases. At the same time, the burned tokens generate a deflationary effect. Unlike other platforms that leverage Ethereum's blockchains, Binamon runs on the Binance Smart Chain, allowing users to trade monsters through NFTs.

Once the Booster starts processing and minting the ERC-20 token, it unlocks three Binamon creatures with distinct features. It is important to note that each Binamon NFT is valuable and capable of generating revenues for users. This fact alone gives participants an incentive to obtain the NFT assets as they invest in buying the strongest creatures in the ecosystem.

Currently, developing the most robust Binamon character with powerful features requires approximately $1 million.

Moreover, the platform's design is hardened to present a challenging environment where users can boost their Binamons with more features.

$BMON Native Currency

The $BMON native token powers the Binamon ecosystem by running several operations within the network. Asides from generating Binamon NFTs, the $BMON token has several use cases such as access to governance actions, staking, a payment tool for exchanging in-game items, and catering for entry fee charges.

Binamon employs a deflationary scheme that burns all tokens used during the minting process to make the digital token more valuable. Deflationary mechanisms aim at deliberately removing a specific supply of the token from circulation.

Other activities that are prone to burning the native asset include multiplayer charges (burns 100%), tournaments (burns 10%), lottery systems, and battle modes (burns 0.1%).

Binamon's Token Metrics

The $BMON token has the following distribution and allocation plan:

  • A total $BMON supply of 300 million
  • An existing circulating supply of 150 million
  • Presale and seed rounds both garnering a total of $1.4 million
  • A market cap of $5 million

The seed and presale round events ran successfully on June 12th and 14th, 2021. During the presale round, the token's value was 0.00003846 BNB, while the seed round phase had a token price of 0.0000283 BNB.

From the amount raised in the sale events, Binamon plans on using it for the following purposes; 20% for marketing programs, overall expenses will receive 20%, development schemes are allocated 20%, and liquidity pool provisions of 40%.

Out of the cumulative $BMON supply, the staking pool is funded with 20%, while the advisors receive 5%.

While many centralized exchanges look forward to listing Binamon, the founding team anticipates working with Binance and other prominent exchanges in the crypto sphere. Additionally, Binamon has seen a number of interested users from Europe, the USA, and China.

Media Contacts

Nicolas Veiga Palacios
Binamon
Info@binamon.org

SOURCE: Binamon



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