On July 2nd 2021, BurnX relaunched as BurnX 2.0, and an innovative, dynamic, forward-thinking crypto contender was born, unleashing a powerhouse of sustainable charity-centric utility combined with investor friendly DeFi mechanics, or as we like to say, #ShareFi on fire!
The project aims to position itself as one of the top charity tokens in the mid-big caps, and one that appeals not just to a crypto audience but also a real world mainstream audience, with heavily publicised charitable events being the supportive bridge between the two.
Hot Mechanics
Sustainable growth is greatly aided by utilising smart, robust financial mechanics, in particular a trade tax system where a 10% tax is charged per trade (buy or sell) of the BURNX20 token. This tax enables:
- Funding of the Ecosystem Wallet. 2% of each trade is transferred as ETH to the project Ecosystem Wallet, covering charitable donations and marketing costs on a variable 50/50 split basis (dependant on current project requirements).
- Auto-liquidity: 4% of each trade contributes towards the automatic injection of liquidity, helping to support a more stable price floor. The greater the liquidity, the lower the price impact, the stronger the foundation, the more constant the returns.
- Holder rewards: a passive form of staking whereby 4% of each trade is distributed amongst existing holders. In other words, investors earn rewards by simply holding, watching their BURNX20 balance increase indefinitely in their wallets.
- Finally, during the auto-liquidity process a percentage of the circulating supply is irreparably burned, making BURNX20 deflationary and thereby increasing its scarcity over time.
Charitable Donations
Our core, most treasured utility is the funding of recurring donations to good causes, as mostly nominated then selected by the community themselves.
Throughout each month, multiple donations will be made to a wide range of charities, funded by the charity portion of the Ecosystem Wallet.
Events
For certain donations, heavily publicised events will be held via the BurnX 2.0 Telegram channel where a charity representative, a BurnX 2.0 host and its community, plus any new members/supporters invited by the charity themselves, will be able to participate in a quick AMA (Ask Me Anything) session where the charity’s history, goals, achievements are discussed.
This is a wonderful form of engagement and promotion, not just for the charity concerned but also for the BurnX 2.0 project and it’s continuing mission.
Ambassadors
In the near future at least one public figure will be appointed to represent the charitable arm of BurnX 2.0. These may be artists, musicians, actors, sports persons, well-regarded figureheads, mostly operating outside crypto in the real world mainstream.
The Ambassador’s role is to shine a spotlight on the larger charitable events, the project and its community. To invite their audience to participate and share in the goodwill.
My Good Cause Programme
My Good Cause is a service currently being architected that once complete will incentivise influencers (individuals or organisations) to run their own fundraising campaigns via the BurnX 2.0 platform.
After the influencer has chosen their charity, a three day period of promotion begins where the influencer encourages their audience to invest in BurnX 2.0 in order to help increase the charity portion of the Ecosystem Wallet (50% funds charity, 50% funds marketing).
After which, the donation is made, an AMA event is held, and the influencer receives 30% of the marketing fund (not the charity fund) generated during that trading period, with the remaining 20% retained by BurnX 2.0 for future marketing.
In this situation, everyone wins. The charity, the influencer, the investors and the ever expanding community.
NFT’s
As project milestones are met, unique and collectible NFT’s will be airdropped to BurnX 2.0 holders. These NFT’s will be themed upon BurnX 2.0's utility, its goals and achievements, the community, and crazy crypto itself.
In addition, single special edition NFT’s will be publicly auctioned via NFT marketplaces, with 100% of the sales commission used to further donate to good causes.
Transparency & Security
We believe that two ingredients vital to any project’s success are 1) ensuring full transparency between the team and the community 2) protecting investors best interests using verifiable, technical security measures.
Full disclosure by the team, regardless of how bitter or sweet the information may be, helps to establish trust between all concerned and is a far cry from how certain other projects tend to operate.
Time and time again the community has proven to be a strong pillar of support. They held during the month long migration from BurnX 1.0 to BurnX 2.0 and trusted the team to deliver that which was promised. As a sincere thank you, investors were then gifted 4% on top of their original holdings.
Now that BurnX 2.0's systems have been configured and thoroughly tested, we have begun implementing all security measures necessary to safeguard investors and the project’s longevity, including:
- LP lock: the 98 ETH’s worth of liquidity added to the new BURNX20 Uniswap listing has been locked for 4 years via Unicrypt — a trusted LP token locking service. Verify.
- Token locks: Team (10%) and Reserve (10%) allocations are to be locked and vested for a minimum of 12 months via team.finance — another trusted token locking service.
- Bot protection: the BURNX20 smart contract enables us to blacklist any front-running trading bots that would normally be unrestricted from stealing ETH from innocent investors. Since launch, we have managed to eliminate +99% of all bots and shall continue to eliminate them as they arrive.
- Security audit: we’re currently shortlisting professional auditing services to analyse then report upon BURNX20’s highly functional smart contract. Once complete, the report will be available via the auditing company’s website and our own. Again, securing investors best interests by any transparent means available.
Team & Approach
Being grassroots at heart does not mean the project cannot be run in the same ordered manner as is often found in professional organisations. Our new team structure reflects this and will include lead roles responsible for ensuring that each department runs as smoothly as a well-oiled machine. Such roles include a Charity Lead, Marketing Lead, Community Lead, et al.
The creation of high quality assets (including studio production quality promotional videos) delivered to maintain consistent branding and reinforce the project’s long-term vision is also important. For this we are partnering with a professional digital design agency to work closely with our in-house team.
And finally, we intend to outsource the majority of marketing to one, possibly two marketing agencies, covering both crypto and mainstream audiences.
Fire It Up 🔥
Whether you’re interested in becoming an investor or wish to learn more, please feel free to drop into our friendly Telegram community to have a chat. The door is always open, and the fire is always roaring.
Best,
Team BurnX 2.0
