Many people think it's impossible for a reflection token to thrive. This belief is wrong, it's just that any token if done right is a lot of skill, work and time. By saying this Reflection tokens are extremely hard to manage and develop, it's a challenge for any developer which is why many of them fail in the long term. Having a reflection token by itself isn't what makes it thrive; it's best attached to existing project. You have to balance a lot of different things, all at once - supply, liquidity, rewards, use case development, integration with additional project endeavors. - The @Empress
There are few people in the @SmartBCH community that I will follow blindly, and the @Empress is one of them. She created a sassy reflection token with a bit of a spin. Rastjn is the Kingdom's Profit Sharing & Liquidity Machine! Hold it in your wallet to receive a share of profit additional bonuses over time.
There is a 10% transaction fee for Rastjn. From the fee 7% is shared as yield to all holders, 1.5% goes into Liquidity Rastjn - BCH pair on BenSwap and 1.5% goes into the Dev address.
That sounds like music to my ears and went shopping. The Rastjn on the market is limited so I was happy with the 10% price impact, knowing that the fee will be recovered in time.
The next step was to prepare the LP for the Rastjn - BCH Ranch on BenSwap, where 10000 Rastjn are allocated at 0.01 Rastjn emission per block. I never had 9.9% in any DeFi pool so this marks an achievement.
This is the story on how I started farming RASTJN at 5,511% APR, and the support given to my favorite reflection token! For the sake of the experiment, I will share 72 hours of farming!
I also noticed some posts on the Empress noise.cash account, saying that Konra and Narath holders will receive airdrops. I checked my transactions and I was happy to see that I received 5 RASTJN ... twice! One $LAW was an extra gift for being an early holder. If you want to add the token on Metamask, the Rastjn Contract Address is 0xc2a19d0a31eb5cf6720f99c06869e283bbef10f3
By now you will have one question... What are reflection tokens?
Reflection tokens are cryptocurrencies that rewards the holders by levying fees on transactions and then redistributing a percentage of the fees charged to them. The special model prevents whales from manipulating and exploiting small market cap projects because of the reflection token mechanics.
As all reflection tokens, RASTJN will use the static reward system. Any transactions will incur fees and 1.5% of the proceeds will go into the liquidity pool and 7% will be distributed between token holders.
I farmed 10 tokens just before going to bed, a nice amount in only few hours.
With the high APR and the above system in mind, went to sleep thinking about how much RASTJN will be farmed until morning. I was pleased to find 18 tokens and I decided to take advantage of the high APR and bought another share.
The best part of the Ranch is the 0% deposit fee! The APR was still amazingly high, at 4,929% in the second day.
By lunch time I had another batch ready to harvest, which meant another slice to be added as LP. The APR dropped a bit more but still huge for such a good token.
Evening and you can see I turned bullish on RASTJN! I unlocked more BCH and made sure my bag is getting bigger! The price impact got lower, which was a good sign.
Please keep in mind that the reflection token slippage should be at 10-11% to cover the fees. Is not a big issue, as the holders will start earning rewards after the purchase. HODL and earn!
This time I gave a full night for farming, and the bigger share of the pool was reflected in a higher reward. More than 40 tokens were waiting to be reinvested!
I reached 51.97% of the pool with the latest reinvestment, adding more RASTJN every block. Day 3 was a busy day at the office so I decided to let the APR work for 24 hours.
The experiment concludes after 72 hours of power farming, started at 5,500% APR and finishing at 3,505%. It started few hundreds RASTJN ago, as the biggest share pool I had since the DeFi summer of 2020, and will continue farming in the background while the farming rate is still high.
The SmartBCH Spotlights series:
1. Cash Cats ($CATS) - the first meme token on SmartBCH with 1,000,000,000 total token supply
2. BCHPad - a decentralized IDO protocol built on the SmartBCH chain, creating a simplified method to invest in new SEP20 tokens
3. AxieBCH - Gaming Guild - a simple business model and a provision for players to create a play2earn source of income.
4. BlockNG & LAW Punks - the platform powered by the $LAW token, which can be used to buy LAW Punks NFTs.
5. CheckBook - the system that evolves the airdrops, as the tokens are sent through cheques and must be accepted.
6. Konra Token - a token with unique tokenomics and a project that will become a multi token ecosystem.
7. Tango Swap - The first SmartBCH DEX with publicly known developers.
8. GAME - The the universal gas token for the AxieBCH gaming guild that grows in the holder's wallet
9. Narath - The reward token meant to serve as an incentive of the holders that use Konra on SmartBCH.
10. 1BCH DEX - New LPs with top APY and single staking sprinklers
11. Oasis.Cash - The decentralized NFT market on SmartBCH
12. World of Masks - A collection of programmatically generated 10,800 Masks NFTs
13. Panda Land - Play2Earn NFT battle game on SmartBCH - with breeding planned for 2022
14. The BCH Gang - Generative NFTs for a modern community
DeFi bounty at CakeDeFi with $30 DFI for new users