Many Worlds Token ($MANY), the world’s first variable tax system in cryptocurrency, broke Evergrow Coin’s incredible Pinksale pre-sale records, by selling 450BNB in under 2 minutes, sailing past Evergrow’s record of 450BNB in 7 minutes.
Unlike Dogecoin, SafeMoon, Shiba Inu, and Evergreen, Many Worlds is a token never seen before in the blockchain space. This is because MANY tokens held in the same wallet have different intrinsic values based on how long they have existed in that wallet. This intricate and novel tokenomics structure solves the scalability issues in current yield generation tokens and creates utility that will change the shape and direction of the cryptocurrency space forever.
Key accomplishments since the formation of the Many Worlds team less than two months ago include:
- Created and deployed the first variable tax-smart contract on the Binance Smart Chain that produces stable coin (BUSD) rewards.
- Sold out of the whitelist with 420 BNB, then the remaining up to 1260 BNB within 3 hours.
- Within 2 minutes of the public pinksale, 450BNB was sold, breaking previous crypto records.
- Strategic partnerships in different industries have been established based on the vision and tokenomics alone.
At the moment of purchase, MANY tokens begin an aging process. At each milestone, these tokens are taxed differently and receive rewards differently. This isn’t simply an intuitive or novel way of doing things; it was designed to solve specific problems with yield generating tokens.
The concept of yield generation is relatively recent, where most would pay rewards in the token that was being purchased. Later came a more novel idea that allows participants to receive rewards pegged to the US Dollar without the need to stake.
In the case of other stablecoin rewards-based tokens, this incredible system comes at a high cost. High taxes for example. A 14% tax levied on both buy and sell transactions would create a barrier to entry for investors and a barrier to exit, especially as the underlying asset's price continues to grow. Buying and selling a token like this at the same exact price would result in a 26% loss.
Beyond the barriers, a key component of the reward generation is volume. This directly controls how much is paid out in rewards hourly. The issue is that no day traders, swing traders, or bots will be trading an asset with such a high tax, meaning volume will come from only marketing.
As the project continues to scale, so will the issues. The number of tokens received as the price increases will gradually decrease, as will the BUSD rewards, and therefore the ability to cover even taxes from the trade.
The Many Worlds’s first-ever variable tax structure solves these problems. First, the buy tax is always 3%, significantly reducing entry barriers even as the underlying asset price grows. The sell tax is where things get exciting and cater to all types of traders so the volume can continue organically without needing to constantly funnel all of the funding into marketing. This allows the team to use most of the funding to continue building out the utility on the project instead of funnelling it into marketing to keep interest in the project. The sell tax is where things get interesting.
As mentioned earlier, MANY tokens begin aging the moment they are purchased. The token’s age determines how the token is taxed and what rewards are distributed.
- Level 1 (On 1st Day from Purchase)
Feature Unlocked: Landing Sweepstakes
- Each token purchased into your wallet sends one entry into that day’s Daily Sweepstakes! Every day, 10 lucky winners share a daily sweepstakes jackpot!
- Level 2 (On 8th Day from Purchase)
Feature Unlocked: BUSD Rewards Kit
- Start earning BUSD rewards airdropped every week directly to your wallet for simply holding your Level 2 Tokens!
- Level 3 (On 91st Day from Purchase)
Feature Unlocked: BUSD Upgrade Kit
- Start earning MORE BUSD every week when you hold Level 3 tokens in your wallet!
Levels beyond 3 exist but have not been disclosed yet by the Dev Team, and they will be distributed from other parts of the ecosystem.
This smart contract system has never been done before. It creates a stable trading environment for every calibre of trader, consistently producing volume to generate rewards for the long-term investors interested in the utility and vision, which we will briefly delve into now. The Many Worlds project promises ambitious utility and the MANY developers have demonstrated, as outlined above, their capacity to deliver innovative results. For a more detailed version, visit their whitepaper:
The overall concept of MANY is to be a universal bridge connecting the many worlds, starting with the 96% of the world not in crypto yet and then connecting metaverses. The utility is built out in a modular way such that each proceeding feature could be built off reusable code from the previous feature.
With so much support from a smaller community in such a short period, Many Worlds is on track to be a significant player in the stable coin rewards and metaverse utility industries.
For more information on the MANY WORLDS Token project, contact:
Email: [email protected]
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice