As the DeFi boom knows no bounds, the market is flooded with different tokens that offer nothing new but just an opportunity for making profits. But is this all there is to it and how does one know which is the right one? OKBoomer is a project that offers the answer to these and other burning questions.
Low Cap, Massive Gains
Perhaps the most attractive thing about DeFi tokens is their ability to be cheap (sometimes costing only a fraction of a cent), gain massive value, and offer different methods of passive income (staking, farming, LP, etc.). Yet, they lack a practical reason to exist. A token just for the sake of a token, most cryptos are created just to get in on the game and have no long-term viability. It is the same reason that most tokens that are launched only witness a small period of success, mostly powered by the public’s enthusiasm.
OKBoomer is a community-driven DeFi token system that aims to reshape what the non-believers think of crypto by running a planned campaign to change public policy and perception. This will also include efforts to work with law-makers to see the betterment of cryptocurrencies with an expectation that crypto-focused candidates will accept OKBOOMER tokens to help boost their campaigns.
On a mission to help the world understand and practically use cryptos, OKBoomer is going beyond just being a simple DeFi token. It is partnering up with athletes from different sports to offer world-class enhanced NFTs that come with unique individualized experiences, as well as promoting crypto education and acceptance of digital tokens across the globe. For example, Matthew Diemer, host of Decrypt Daily and Congressional Candidate, has teamed up with OKBoomer to help promote crypto education with the OKBoomer Crypto Education Podcast with Matthew Deimer.
OKBoomer will also be creating practical use cases for NFTs, specifically with the different athletes it will be teaming up with to create unique personalized experiences along with world-class collectible digital art. For example, the initial sale of OKBoomer’s Emmy-nominated, Discovery Channel TV Host and 3-time world sailfish champion Peter Miller NFT can come with an eight-hour fishing trip in Coral Gables, Florida with Peter Miller on his personal boat, and a rare appearance on the show Uncharted Waters. Proceeds from the NFT sales will also be used for generating cash flows for OKBoomer HODLers.
OKBoomer is also exploring building a museum on the metaverse to show off OKBoomer NFTs and further build a community for holders.
The OKBoomer Tokenomics
The OKBoomer token is deflationary and there will never be new tokens minted; of the amount initially minted, 30% were immediately burnt to increase value, and each future transaction leads to additional tokens being burnt to further this valuation increase. While direct wallet-to-wallet transactions will be free of cost, any purchase or sale of OKBOOMER tokens will result in a 10% tax. 3% will be distributed to other token holders as a dividend for their HODLing and another 3% will be set aside for marketing and development purposes. The remaining 4% will be used to provide liquidity, allowing for additional trade and lower volatility of the token.
The OKBoomer team consists of professionals who have years of experience in finance and blockchain technology and have created tokenomics to encourage upward pressure to increase the probability that the token value rises over time. The zero-fee wallet-to-wallet transfer encourages real-world use and promotes other aspects such as being used for donations. Taxing buyers and sellers means that profiteering is discouraged, which also acts as an anti-pump and dump mechanism. The same tax also helps token holders to keep their assets for longer terms as each exchange, whether buy or sell, means more OKBoomer tokens in their wallets.
OKBOOMER is a community-driven token that operates on the Binance Smart Chain (BSC), thus requiring almost no gas fees to trade, as well as allowing for quick and seamless transactions. OKBoomer’s “How To Buy” instructions can be found on their website at https://okboomertoken.com/how-to-buy.