A Comprehensive Look at iMoon: Elastic Autonomous Community Token
iMoon represents a community-based token launched in 2021. The project intends to introduce a safer digital asset investment where users can maximize their holdings. Thus, through its unique approach, iMoon assures users of an investment with minimal or no risks. Unlike other stablecoins, iMoon’s protocol focuses on working with an increasing price structure.
iMoon token hopes to introduce an elastic digital token to the market. At the platform, iMoon is contractually set to grow and exceed the value of Bitcoin. The idea is made possible using the BNB/BTC pair.
Such architecture helps improve the investor’s confidence and trust in the project. By the end of the review, users will have an overview of what iMoon has in store.
Here’s what users can expect from the elastic digital asset:
The iMoon Vulnerable
Under this feature, iMoon ensures that it automates delicate functionalities within the project. Going by the platform, the vulnerability feature translates to any section prone to manipulation. It is common to see dishonest users taking part in misleading activities which cause disruptions and losses.
For instance, the platform’s developers may begin to raise the trading fees and profit off an investor’s holdings. In such a scenario, iMoon ensures that it timelocks its fee percentage rates.
Locking stands advantageous to iMoon since no one can change the fee rates without involving investors. Above all, the automation feature helps to maintain the platform’s fee limit within a certain limit. It further gives a sense of security to investors and their holdings.
A Rebase Mechanism
iMoon uses the rebase mechanism, which helps the digital token’s price to continue increasing. In the approach, iMoon participates in expanding or contracting the token’s market supply. It is worth noting that the asset’s price peg starts from $0.001 after its official launch. The value is going to rise by 5% after nearly two hours and 360 epochs.
Once the iMoon tokens exceed their original price peg, the project’s rebase releases more tokens into the market. Increasing the total supply lowers the asset’s price until it achieves its target value. The opposite is true since iMoon reduces the token’s supply if it falls below a particular price. Reducing the supply allows iMoon to become scarce, eventually increasing the token’s peg price. All the same, a user’s holdings remain constant during the entire rebase procedure.
Lower Risk Investments
iMoon intends to give early participants an investment product that has fewer risks. Thus, users can retain their BNB during the launch because there is a specific starting price limit. Investors who wish to sell their iMoon after the initial launch may recover their initial capital. A buy-back procedure is also available to counter the growing selling pressure.
Airdrop rewards are another way the project repays pre-sales and early investors. Users can receive their investment compensation through airdrops which run until when the process is over. However, the airdrops are only applicable when the token’s overall value falls below the presale price. To qualify for the airdrops, users need to verify their digital wallets with iMoon’s system.
As mentioned in the beginning, iMoon controls the value of its token based on the BNB/BTC pair. The statement means that iMoon’s value is in BNB form with an additional 360 cycles paired to BTC. Therefore, if BNB’s value decreases, it would lead to a lower USD liquidity. At the same time, if BTC’s price goes down, iMoon would have an inadequate airdrop amount.
In the crypto space, oracles function as a link to accessing off-chain information from outside sources. iMoon’s oracles provide the same services that enable users to obtain data on the token’s price. Hence, traders can apply the time-weighted average price (TWAP) feeds from PancakeSwap’s AMM. Moreover, the TWAP feeds assist in safeguarding the project against cyber attacks.
Staking involves a process where users lock their assets in a platform’s pools or digital wallets. iMoon presents investors with a staking option that is free from any charges. As such, users can generate an income after they stake with iMoon’s earning pools.
iMoon offers investors a chance to participate and earn in the daily contests. 13B iMoon tokens are up for grabs, and the project announces its three lucky winners every week. Designing daily contests helps strengthen the bond between the platform and its investors.
The total token supply at iMoon is 1,000,000,000,000,000. Out of the distribution, 30% caters to the presale event, while liquidity takes up 15.8%. Airdrops cover 30% of the total supply as 22.7% of the tokens are set aside for burning. Transactional charges attract a 15% tax which funds marketing activities, liquidity, and the buy-back procedure. The presale event begins on October 28, 202, with a soft cap of 100BNB and a hard cap of 200BNB.
Smart Contract Audit
Crypto-based auditing procedures normally perform automatic or random checks on a project’s code. The process looks for errors that may slow down a platform’s operations or put an investor at risk. Once an issue is found, the platform’s developers attempt to resolve the errors with the auditing experts.
Thus, iMoon’s code is thoroughly audited by a team of experts from BSC Gemz. Auditing ensures that iMoon can run as a trusted platform offering investment opportunities.
iMoon was able to accomplish several goals by Q3, 2021. It includes plans such as the application of both security procedures, marketing, and auditing processes. As 2021 comes to an end, iMoon hopes to expand its marketing options to reach a wider audience.
It also expects to list with various price tracking platforms such as CoinMarketCap and CoinGecko. In Q1, 2022, the platform looks forward to launching an NFT giveaway where holders can secure iMoon tokens.
Crypto-based investments may be complex to understand, particularly due to their unstable nature. Such downsides create a negative impression on digital asset investments. iMoon’s mechanism plans on making users understand the value of financial freedom. Within no time, the crypto space can achieve global mainstream adoption as more investment products appear.
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