In the past weeks I have analyzed different projects with compound, rewards and burn in different chains such as CORE, ARBITRUM, ETHEREUM and now, I want to dive into this one I found on BSC blockchain, called PeneloPEPE ($PELOPE) following the recent ongoing PEPE narrative.
let's start breaking down and see why it might be interesting this project! What $PELOPE is and how does it work?
Staking, Simplified - The $PELOPE Token embodies the virtues of a decentralized system. It is held in your wallet and never in the control of an intermediary or centralized authority. Simply buy and hold and watch $BUSD rewards accrue. You will be able to Mint and Stake the Genesis NFTS very soon.
Compound - Interest, Automated - Unlike other protocols, simply holding in your wallet will provide rewards. There is no need to re-stake. Interest is always yielding in your wallet.
Interest Paid Quickly - PENELOPEPE distributes $BUSD to every $PELOPE Token holder each and every 30 minutes, scaled with 5% Rewards on all the Volume.
Automated Burning Mechanism - One of the most innovative features of Penelope is an automatic token burn system named True Burn. Instead of just moving Tokens to the Dead Address on each Transaction Tokens are directly removed from Circulating Supply, Onchain.
Could be this one a better protocol than other competitors?
They have taken inspiration from the Defi Space and built an improved Protocol. In which way?
âą No Blacklist
âą No Disable Trading Functions
âą Hardcoded Feereceiver Wallets
âą Hardcapped Taxes at 15%
$PELOPE uses a calculated system to support its price and the rewards. BUSD has engineered a system that will function seamlessly. For $PELOPE Holders, you will simply see an innovative Rewards system working for you.
Auto Rewarding - The $PELOPE Auto-Reward feature is a simple innovation termed Buy-Hold-Earn. It provides the ultimate ease of use for $PENELOPEPE holders.
Buy-Hold-Earn - Simply buy and hold $PENELOPEPE Token in your wallet, watch as you earn $BUSD rewards via dividend payments directly into your wallet. Your holdings will increase every 30 minutes (depending on Volume).
Utilizing Auto LP and Auto Burn $PELOPE provides an everrising Price Floor due to an everdecreasing Supply.
This means that without moving their tokens from their wallet, $PELOPE holders receive Dividends in the Stablecoin âBUSDâ.
The Treasury - The Treasury plays a critical role in $PELOPE. Its primary function is to support the sustainability and growth of the protocol. The treasury may also be used to fund new Products, services, and projects that will expand and provide more value to the $PELOPE Community.
In addition, it will serve to provide funding for marketing, developer payments and salary payments. Once the LP is strong enough, it is possible to introduce more ways to earn Passive Income.
PENELOPEPE fees support the sustainability of the protocol. The fees enable crucial functions for the project. Rather than selling the Share to support the protocol, the approach is to support the sustainability and growth of PENELOPEPE through fees.
A buy and sell fee benefits from trading volume. Higher trading volume brings in more trader interest which in turn help the sustainability of the protocol.
The amount of fees (10% for buys and 15% for sells) allows $PELOPE to provide a stable high yield, distributed in $BUSD Dividends.
LP - Trading fees goes to backing the liquidity of the PELOPE/BNB Pair on PancakeSwap ensuring an ever-increasing collateral value of $PELOPE.
Auto Burn - 1% of all $PELOPE Volume is burnt in the Dead Address and removed from Supply. The more that is traded, the more get put into the Void causing it to grow in size, which in return acts to reduce the circulating supply of $PELOPE and keeping the protocol stable.
Team has been also working on NFTs collection and you know, nowadays artwork is integrated part of almost crypto projects.
We arrived at the end of this article, I hope you enjoyed it and as I always say, DYOR!
Do not forget to let me know your thoughts about this BSC project, I would love to hear your opinion. Follow me on my social for more articles and charts, share, like and comment below!
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