Understanding Token Matrix from MangoMan Intelligent & Burning of Unsold Tokens
Journey of MangoMan Intelligent Tokens started back in April 2022 with introducing MMIT Tokens on Smart Chain Network. The birth of mango man meme coin is attributed to the idea of motivating crypto beginners to do well in this arena. We can name it as the world’s most trending community coin as it promises on some serious aspects like that of improved transactions, good speed and fun nature. Mango man is hyper deflationary coin with static reflection which rewards holders, therefore, more Mango man coins are automatically added to the wallet each time transaction is made. Great experience, fresher induction points and 5% hold from each transaction is automatically redistributed to the mango man holders.
The MANGO MAN token is strictly a utility token in all jurisdictions and is not and cannot be considered to be a “security” or otherwise regulated token of any kind. MANGO MAN is not in any way e-money and/or fiat money, or an asset backed stable coin, whether global or limited in scope. This Whitepaper taken by itself is not a contract or a contractual agreement of any kind, nor is it an invitation, solicitation to invest in MANGO MAN or acquire or use MANGO MAN tokens in any way and with any expectation of profit the reform.
As a Blockchain enthusiasts, one should consider going for live physical events, one such big event is schedule in UAE – Crypto Expo Dubai on 5th & 6th of Oct 2022 https://www.youtube.com/watch?v=0wMnhB3v5X4&t=12s One of the biggest sponsors of this event – SBG Global Dubai is represented by its Founder CEO – Anil Yadav who will also outline the future strategy for MMIT Tokens and its listings on centralized exchanges such as XT.com where it is schedule to get listed on 25th September 2022.
Mango Man employs 3 simple functions: Reflection + LP acquisition + Burn. In each trade, the transaction is charged a 10% fee, which is split 2 ways. 5% fee = redistributed to all existing holders & 5% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the MANGO MAN tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
Why Burn Tokens?
>To Increase a Coin’s Value: The basic economic law of supply and demand dictates that if the supply of something decreases, then the price will have to rise, assuming demand remains constant. The destruction of coins can serve a similar purpose. Burning coins reduces the supply. While fiat currencies are inflationary in nature and central banks can print them in unlimited amounts, some cryptocurrencies are deflationary in nature and have fixed supply limits.
>As a Sign of Long-Term Commitment: The owners of a crypto project sometimes burn coins on their network as a show of commitment toward scarcity. Maintaining a certain degree of scarcity (see Bitcoin, with its 21 million cap) makes everyone holding those coins a little richer. Owners may accomplish this through a burn mechanism, providing periodic burn schedules, or as a one-off event.
Some investors view this strategy as a way to keep a coin’s value growing, and thus it may help investors feel more confident about staying invested over the long term. More details about tokenomics on MMIT coins is found here at Medium post
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