How CARIB token works and what are its tokenomics?
hive-145415·@uparveg·
0.000 HBDHow CARIB token works and what are its tokenomics?
 CARIB token works and what are its tokenomics. CARIB token is the native currency of Carib DAO, a decentralized autonomous organization that aims to empower the Caribbean community with blockchain technology and web3. CARIB token is minted on the BNB Smart Chain, which is a fast and low-cost blockchain platform that supports smart contracts and decentralized applications. CARIB token has the following features and functions: Supply: CARIB token has a total supply of 100 Million tokens, of which 81% are allocated for the liquidity pools and exchanges. The community allocation is distributed through various mechanisms, such as airdrops, staking rewards, blogging rewards, NFT sales, etc. The team allocation is vested over a period of 4 years, with 25% released every year. The treasury allocation is used to fund the development and operation of Carib DAO projects and initiatives. The marketing allocation is used to promote and raise awareness of Carib DAO and CARIB token. Utility: CARIB token has multiple utilities within the Carib DAO ecosystem, such as governance, access, and reward. Governance means that CARIB token holders can participate in the decision-making and direction of Carib DAO by voting on proposals or submitting ideas. Access means that CARIB token holders can enjoy exclusive benefits and opportunities, such as NFTs, education, small business support, tourism discounts, artists and creators exposure, community projects involvement, and gaming guild membership. Reward means that CARIB token holders can earn more tokens by contributing to the Carib DAO ecosystem, such as blogging, creating content, providing feedback, etc. Reflection: CARIB token has a reflection mechanism that rewards holders for holding the token. Every time a transaction (buy or sell) occurs on the BNB Smart Chain involving CARIB token, a 5% fee is applied. Out of this fee, 3% is redistributed to all existing holders proportionally to their holdings. This means that holders can increase their balance without doing anything, just by holding CARIB token. The other 2% is added to the liquidity pool on PancakeSwap, which is a decentralized exchange that allows users to swap tokens on the BNB Smart Chain. Liquidity: CARIB token has a liquidity mechanism that ensures stability and security for the token. As mentioned above, every transaction involving CARIB token adds 2% to the liquidity pool on PancakeSwap. This increases the liquidity of CARIB token, which means that it becomes easier to buy or sell the token without affecting its price too much. Moreover, the liquidity pool tokens are locked for a period of 4 years, which means that no one can withdraw or manipulate the liquidity. This prevents rug pulls or scams that can harm the token holders. I hope this explanation helps you understand how CARIB token works and what are its tokenomics. If you want to learn more about Carib DAO and CARIB token, you can visit their website or read their whitepaper. 😊 [//]: # (CCC LINKS PLACEHOLDER, DON'T DELETE THIS TAG)