Hello fellow pirates! Your Wealthy Pirate is here again!
As I promised you in my last post on Thoreum, I am here to deliver you an update of this freshly born coin and share with you what promising developments it has made:
- Tripple Audited by PALADIUM, TECHRATE and CERTIK!
- Dynamic farms released for all stakeable coins!
- 2 AMA's with team already held.
- Lamborghini (or $ 230k) give away still available for newcomers.
- And last but not least, ⚡ THUNDER VAULTS ⚡ are finally here!
What sets Thoreum apart from other RFY tokens:
But before we jump the gun, here is a little reminder why Thoreum is actually something special and why it might be a hidden gem in a pile of daily released trash coins:
As with all RFY tokens - Reflection Yield Tokens - Thoreum comes with a tax that the buyer has to pay for EVERY transaction he makes with the coin. Aye, I know we pirates hate taxes, but bear with me and you'll see where this is going.
Tax at Thoreum means: if you buy 100 Thoreum, 14 coins (current rate 14%) is deducted from your portfolio and used as follows:
- 8 coins (8%) are directly exchanged into BNB and locked into a liquidity vault named THOR, which actively buys back and burns Thoreum (THOR's THUNDER) and helps pushing the price of the coin upwards. Neat and important for the future of the coin.
- 6 coins (6%) of the taxed 14 coins are split up between all current holders of the coin (includes burning address as well). This is called reflection.
This ultimately means that you are punished for moving the coin around or selling it prematurely, while you are rewarded for holding it in one place and waiting for it's amount and value to increase. Don't we pirates love to pile up coins in chests and bury them for years to come anyway? 😉🦜
This taxing mechanic of the RFY tokens birthed a problem though: YOU CAN'T STAKE THEM!
If you did, you would lose a huge chunk of your coins while moving them (staking -> taxed, unstaking -> taxed, claiming -> taxed, compounding ->taxed...)
So the reflection of the coins that made them so enticing, is unfortunately crippling them in their usability at the same time. A big disadvantage.
BUT!
Thoreum managed to overcome this hurdle!! Hurray!!
With Thoreum's newly created contracts, the holder can stake his Thoreum coins in a special farm called Thunder Vaults. Thunder Vaults combine both worlds into one: 6% gains from the tokens reflection, happening when paper hands sell their token, and staking rewards from the vault itself on top of it! The best part of it ist, you will NOT be taxed for staking at the Thunder Vault and you WON'T be taxed either when extracting.
But be warned! (Arrrh, I love gloomy warnings, aye!).
There is a condition to the free withdrawal, which is a 15 day or 60 days withdrawal lock, depending on the vault you choose. They also have different APY, the 60 day one being the more rewarding. If you wish to withdraw before this time has passed, you will be taxed for withdrawal. So if you stake, be resolved to let it there for a longer time. It might seem cruel at first, but the goal of THOREUM's team is to benefit holders and punish speculators. This reflects in all actions they do, all products they develope and even in the lambo give away contest (only holding required to participate).
But we digress... This untaxed staking is a first for the relatively new RFY tokens and Thoreums claim to be the SAFEMOON 2.0 might sound a bit exaggerated at first, but the further one looks into the project, the more one understands how fast this hyper deflationary token can and will grow.
For all those who fear to miss the train, please relax, calm down, take a breath and DYOR. This coin has beastly potential, but if you are careless, it can bite you instead. So take your time, because:
You Are Still Early
The team is driving forward great marketing measures on a global scale and delivers daily updates about developments in the Telegram groups. The news about the possibilities and implications of Thoreum's Thunder Vaults have still to be understood by most. But once they do, the value of this new and innovative yield farm will far exceed the $14 million market cap. it has now.
Currently standing at $0.007/ coin, it has the potential to go up to $1.00/coin in the future. For this it has to achieves a market cap of $1 - $1.2 billion (depending on burn rate). This would be only 1/3 of what SAFEMOON achieved in it's prime, but SAFEMOON had nothing to use it for, least staking it to gain rewards!
But until this x100 happens, buyers can easily hold the coin in their wallets or deposit it in a vault, seeing their amount of THOREUM increase daily (for me ~0.56%/day since launch, by reflections alone without staking). The increase in price will come with time, and not by a pump.
If you are interested in Thoreum, find more on their website. Connect your wallet and read into it:
Before finishing, let me remind you as always: it is your own duty to research and prove any given information by yourself. I'm not a financial advisor and offer information merely out entertainment purposes. Before you jump into a financial (or any other) decision, DO YOUR OWN RESEARCH first. That is this pirate's kindest advice. This post contains referral links that will benefit the writer, but does not disadvantage the reader in any way. If you consider this Wealthy Pirate to be worth it, toss him a coin through using the referral ;)
