LONDON, Nov. 5, 2021 /PRNewswire/ -- Rainbow Token (ticker: $RAINBOW) is a hyper-deflationary, multi-faceted token that employs 7 resilient protocols which uniquely combine to create a single, robust crypto asset. $RAINBOW is designed in such a way that makes the token fundamentally bullish (price per token will rise) over time.
The project was launched on August 18th and is developed and maintained by a team situated in the UK. These developers are creating multiple products behind the RAINBOW brand. They are currently focusing on building a decentralized token launchpad service specializing in user-friendliness, flexibility, and utility for the native token, $RAINBOW.
The current market cap does not reflect what is coming for the Rainbow ecosystem. It is very early in its development process and very early to be investing. The upside potential for $RAINBOW is massive at a small market cap relative to meme tokens that do not have a token utility. Real utility is being developed for Rainbow Token's use. Bifrost, a decentralized token launch platform, will give developers a way to launch their projects to users seamlessly.
The platform aims to improve upon current launch platform solutions, with an emphasis on reduced fees. Developers will use $RAINBOW to discount launch fees. The developers are also ambitiously building an ecosystem of multiple different platforms under the RAINBOW brand:
Seven unique protocols that make up the RAINBOW tokenomics:
$RAINBOW takes 7 colors from the rainbow and assigns each of them a particular protocol built into the tokenomics of the smart contract. These protocols are:
The red protocol is the burning protocol, where a part of each transaction is immediately and permanently burned straight to the dead address.
The orange protocol is the buyback protocol, which collects a portion of tokens sold as BNB inside the contract. This BNB is then used to repurchase RAINBOW tokens at a later date.
The yellow protocol is autonomous yield. This works by "reflecting" a portion of each transaction back to every single holder based on the percentage of the total supply that they own.
The green protocol takes a portion of each transaction and uses it for donating to community-voted charities. The community voted in the charity process at intervals so that the team could effectively give back to multiple areas of need, such as animal welfare, poverty, ecosystem preservation, and healthcare.
The blue protocol is dedicated to automatically growing the size of the liquidity pool from which DEX swaps occur. An increase in liquidity pool size allows for more stable price changes and healthier price action.
Indigo: Marketing / Development
The indigo protocol is a cut for the development team to cover business and marketing expenses.
The violet protocol is an automatic built-in giveaway system. A portion of each transaction is sent to a lottery "pool," which may be automatically rewarded during a buy transaction. The tokens are automatically credited to the wallet address that performed the purchase transaction.
The team is also aiming to integrate an NFT play-to-earn-while-away game into the $RAINBOW ecosystem, currently teased as "Project: IRIS." Apart from that, their developers construct a staking & farming sub-ecosystem under the name "PRISM." They are also actively engaged with the community while listening to feedback to make sure the community's voice is heard. Over $500,000 has been given out in rewards from the lottery function, where you can earn free crypto as part of the community.
One of the unique factors that separate $RAINBOW from its counterparts is the "RAIN" system introduced by the developers. This system rewards users who link up their Twitter & Telegram accounts using RainBot on Telegram. Community members who tweet using specific hashtags to promote Rainbow Token will be rewarded with RAIN, a currency tracked by RainBot.
This RAIN can then be used in many minigames in telegram for users to earn more and interact with one another or redeem for $RAINBOW. This system, in essence, allows users to make free crypto while helping to grow the Rainbow community!
All investment strategies and investments involve the risk of loss. Nothing contained in this article should be construed as investment advice.