Many of the blockchain technology’s components and use cases were created together with the technology itself. One of them is the birth of a new branch of economics known as “token economy” or “tokenomics” in the context of blockchain technology.
With the rapid expansion of these ecosystems, it was necessary to prevent the market from being swamped with too many tokens, achieved by hyper-deflationary tokens. A growing number of projects are using hyper-deflationary token mechanisms to reward their holders in response to the increase in demand. To put it simply, hyper-deflationary tokens are made highly deflationary.
Introducing Palanca Token
Due to the rapid growth of the cryptocurrency industry, the need for a true “People’s Token” that would be hyper-deflationary, high-yielding, automated, and liquidity-generating has become more evident, and the Palanca Token successfully met this requirement. The Palanca protocol, released exclusively on Binance Smart Chain, provides high-yield production for PALT holders while also growing liquidity and value through purchasing LPs and controlling tokens.
But what makes Palanca stand out in a market filled with platforms that call themselves hyper-deflationary? PalancaToken aims to set itself apart from other Tokens by fusing tokens with practicality. The team’s ultimate goal is to establish a fully independent and decentralised ecosystem, which will include strategic collaborations, adding functionality to the token, and creating new applications for the PalancaToken name via NFTs, games, and decentralised financial resources.
PalancaToken was developed to revolutionise and improve decentralised financial operations. PalancaToken is currently developing “four key public service projects:”
- PalancaToken: – A metaverse for NFT games.
- PALTFi: – A collection of distributed banking services called “PALTFi” has been released.
- PalancaPlaces: – A non-fungible token (NFT) and commodities exchange.
- Palanca University: – A content and education hub.
Advantages of Palanca Token
Low Gas Fees: In order to provide users of Binance Smart Chain and PancakeSwap with a cheap gas charge experience, PalancaToken was developed.
True Decentralized: PALT is fully decentralised and encrypted on the Binance Smart Chain.
High Yield Generation: Token holders get passive benefits just by holding them. Token holders get their static rewards instantaneously and automatically on each trade or transfer, and these rewards accumulate with each successive transaction.
Hyper Deflationary Token: At certain intervals, the PALT supply will be strategically reduced by burning a predetermined number of Palanca tokens.
Un- Ruggable Liquidity: As was previously mentioned, Palanca Token continually increases its liquidity by adding to its PALT/BNB pool with each transaction.
How to Buy PalancaToken
To become a member of the PalancaToken Network and to have this token in your wallet, follow these instructions:
- First, get the trust wallet app, MetaMask, or both.
- Then, get some Binance Tokens (BNB) and deposit them into your Trust Wallet or MetaMask.
- Simply choose “Buy” on the main page to proceed with your purchase. In doing so, you will be taken to the “PancakeSwap” Dapp Exchange.
- You can buy 12% more PALANCA TOKEN if you set the slippage to that amount.
- Next, choose the Swap option.
Anyone can buy and sell PalancaToken on the Binance Smart Chain, but soon they can also buy and sell it on the Ethereum network. A refund scheme is supported by a 0.08% charge on all PalancaToken purchases.
PalancaToken Network: How Secure Is It?
The Binance Smart Chain features the PalancaToken, a BEP-20 token. BSC safety is ensured by the proof-of-stake consensus process. Every 24 hours, a new set of 21 validators is chosen to ensure the integrity of the blockchain by verifying transactions and protecting against malicious changes. In addition, validators must place a certain amount of BNB wagers on the Binance exchange.
There are 100 quadrillion PALT tokens in circulation on the Binance Smart Chain, with 2% going to a tax pooled across all token addresses. Each holder receives 1%, and each burn wallet receives 1%. The PalancaToken team token can be used on PalancaToken’s contribution, promotion, and creation services.
Based on current allocations, 42% of tokens will go to swap, 28% to charity, 15% to marketing, and 10% and 5% to team and burn.
The cryptocurrency market has recently seen an incredible influx of deflationary tokens. Those sceptical about deflation’s positive economic effects will change their minds after the market is flooded with Palanca tokens. Tokens with deflationary characteristics should now dominate cryptocurrency markets. Palanca’s development and success will be fascinating to watch.
Telegram – https://t.me/Palanca_Token
Website – https://palancatoken.com
Twitter – https://twitter.com/PalancaToken
Instagram – https://www.instagram.com/palancatoken/
YouTube – https://www.youtube.com/channel/UCUx_ABt3wZ71dEtKGXQ-aRw
Discord – https://discord.com/invite/5UZPd874xE
I have worked in the financial sector for over 10 years and have been writing about cryptocurrency for the past 2 years. I have a passion for finance and technology and I enjoy sharing my knowledge with others. I am a regular contributor to CoinDesk, one of the leading publications in the space. In addition to my writing, I am also a popular speaker on the topic of cryptocurrency and have given talks at various conferences around the world.