Venom (VNM) Launches New Token with Innovative Staking and Yielding Features
*LEWES, DE / ACCESSWIRE / April 26, 2023 /* Venom (VNM) has announced the launch of its new token with groundbreaking staking and yielding features that have never been seen before in the crypto space. VNM aims to provide a sustainable and profitable ecosystem for its community, where every member can earn rewards for their contribution to the network.
One of the key features of VNM is its staking mechanism, which allows holders to stake their tokens and earn additional rewards. The staking pool can distribute reflections from the token smart contract to stakers according to the amount they have staked, allowing them to earn a percentage of the overall rewards pool. The staking system has been designed to enhance the rewards system so that holders are not missing reflections by participating in the staking pool. Holders can manage their participation in the staking pool via the Venom Staking dAPP.
Moreover, Venom's yield percentage is set to be highly competitive, with a 6% buy and sell tax that is distributed to VNM holders. The buy (6%) and sell (6%) taxes for the project are based on a 2% True Burn, 2% Marketing, and 2% Reflections. Additionally, there is a small 1% transfer tax.
To ensure the long-term success of the project, proper token distribution and allocation are critical. Venom has allocated 35% of its tokens to the public sale, 20% to the private sale, 16% to liquidity, 12.5% to the core team, and 11.5% to the staking pool. The team manages the distribution of tokens via vesting schedules with the core team holding the longest vesting schedule at over a year with the LP locked at launch.
Venom's innovative tokenomics is designed to increase token optionality by providing a broad range of options for token utility, including purchasing items in crypto vending machines around the world, providing liquidity in several decentralized exchanges, or placing tokens into a staking pool for yield. By increasing the quantity of goods and services that the token can plug into, Venom aims to increase the velocity of money, thereby increasing the token's value over time.
With these new features, users can now stake their VNM tokens with complete trust and transparency, knowing that their rewards are being distributed fairly and equitably.
One of the key new features is the staking smart contract, which is now fully compatible with the token smart contract. This allows users to stake their VNM tokens and receive rewards based on the amount they have staked. In addition, the staking pool now receives reflections from the token smart contract, further enhancing the rewards system. With the Venom Staking dAPP, users can easily manage their participation in the staking pool, giving them full control over their staked tokens. These new features represent a major milestone for the project and are a testament to the team's commitment to building a truly trustless, on-chain staking protocol.
In addition to the staking smart contract, the team has also introduced other important new features that will enhance the user experience. For example, the rewards system now includes multipliers, which adjust the dividend tracker for those who hold their tokens for longer periods of time. With this system, users can earn up to 7x the amount of VNM they receive in reflections, giving them even greater rewards for their participation. Overall, these new features demonstrate the project's commitment to building a truly trustless, transparent, and equitable staking protocol that is accessible to everyone.
In conclusion, Venom (VNM) offers a unique opportunity for crypto investors looking for a sustainable and profitable ecosystem. With its innovative staking and yielding features, highly competitive yield percentage, and robust tokenomics, Venom has the potential to become a major player in the crypto space. The whitelisted presale is set for 28 April 23 and will last for 72 hours. The public sale will be on 10 May 23 and will also last for 72 hours. Finally, the token will launch on 15 May 23. The team encourages investors to join the community and be part of this exciting new venture.
POC: Christopher Johnson, PhD
Email: contact@venomcrypto.io
Website: https://venomcrypto.io
Twitter: https://twitter.com/VenomCryptoVNM
Telegram: https://t.me/VenomVNM
*SOURCE:* Venom
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