🍌Banana Token

Information regarding the Banana Token.

🔍 Overview

The "Banana Token (Bananas)" is a BEP-20 token that will be created by us on the Binance Smart Chain Network. Users will be able to buy these tokens and deposit these tokens into our virtual casino and wager them. New banana tokens will not be minted and the total supply will be capped (More information below). In addition to buying these tokens to use them in our casino users may also buy them as a form of investment in our casino. They will earn money depending on the performance of our casino. This is because the value of their Bananas will increase as people buy them to use them in our casino and they will passively earn more due to our tokenomics (More information below.)

🏦 Tokenomics

🔒 Supply

The initial and max supply on Banana tokens will be 5,000,000.

♻️ Redistribution/Automatic Staking

A 1% fee of all transactions of Banana tokens will be deducted and reflected across all Banana Token holders proportional to the amount of tokens they own.

Example

Ex. 100 Bananas are sent from user A to user B. User B receives 99 Bananas (1 Banana deducted from the transaction). User C owns 1,000,000 out of the 5,000,000 total tokens. Since user C owns 20% of the total supply he gets 20% of the deducted reflection fee which is 0.2 Bananas in this case (0.20 x 1 = 0.2).

Purpose

This feature enables holders of Banana Token users to passively earn tokens. The amount of tokens earned will depend on the trading volume, casino deposit/withdrawal volume and sending/receiving volume. We want buying Banana Tokens to operate less like a meme token/gamble and more like an investment in our casino. The reason that this fee is small is because we do not want to discourage people from making withdrawals and deposits from our casino platform. Although, 1% may seem small you may yield a lot of tokens since unlike other coins users are incentivized to perform token transactions by our casino (deposits/withdrawals).