Recently there has been a hype over DeFi tokens since they have met a high yield on the crypto stock market. Boda token is a DeFi token built on binance smart chain network with a loyal community for long term development. A DeFi is a decentralized finance built on blockchain technologies, using smart contracts. These smart contracts are automated enforceable agreements that do not need intermediaries to execute and can be accessed by anyone. The advantage of using Boda token is that it does not rely on financial intermediaries to offer traditional financial instruments. Rather, it utilizes smart contracts on blockchains mostly Ethereum.
Using Boda token is safe because it allows you to earn interest, get loans, trade synthetic assets and more, without relying on a third party. This is achieved by creating a system parallel to traditional finance. DeFi tokens aim to establish new standards in terms of transparency and access, so as to significantly reduce costs for financial services. This will ensure the fast processing of transactions thanks to automation. DeFi tokens were first introduced by projects such as Ethereum which allows decentralized applications to run on their network infrastructure.
Boda token was built on honesty, respect, unity, excellence, courage and positivity. The startup launched in Australia in 2021. In addition, the platform has been listed on Pancakeswap Exchange and MDEX Exchange. The platform targets cryptocurrency investors and has advantages for investors. For starters, it has a fully locked liquidity pool so that the development and project teams do not have the ability to steal or mint new tokens. This is unlike some other popular BSC tokens no cooperation owns boda token outright. Instead, it’s owned by the holders, the Boda token Community. Boda token has also passed a Tech rate full start contract Audit proving that the token is completely safe from hacks or manipulation by the development team.
When Boda token is bought, sold or transferred, a 10% transaction tax is applied, benefiting all holders. 7% is applied to liquidity with 3.5% locked forever to increase its long-term liquidity. The remaining 3% is distributed proportionally to all Boda token holders in what is called reflections. This means that each transaction directly contributes to the long-term health of the token and increases the wallets of each of its holders over time.
When it was launched, 25% of the total supply of Boda token was burned by moving it into an inaccessible wallet called Burn Wallet. This wallet was designed to receive reflections, leading to an ever-decreasing supply of Boda token, the remaining tokens increasingly valuable. The indigenous anti-whale mechanism built into the smart contract ensures that a strict maximum of 3% of the circulating total supply that can be executed in any of the transactions. This protects holders from market manipulation.
The Boda Token Core Team also plans to release a DeFi Yield Farm, where holders of Boda token can stake their holdings to earn free tokens and cash out BNB. This will benefit the investors since BNB is currently at high prices and has a larger market capital token. Boda token holders will benefit when they release the new yield in August 2021.
A BNB is a binance coin and can be used to trade cryptocurrencies and pay fees for the binance exchange. They can be used to pay fees on the exchange, and binance offers a rebate incentive for up to five years of membership. Investing in BNB now is a good option as it has high market capitalization and other various discounts on the binance exchange. Furthermore, it has the top utility tokens and has various benefits compared to crypto currencies.
For more information about Boda token visit their platforms below: