Rainbow Token: The Whitepaper
In 2021, projects on the Binance Smart Chain became very popular. Now you can see the release of hundreds of projects based on the BSC. Each of these new projects is competitive in one area or another. Some are unique in their way from a trade point of view. One of these projects is Rainbow Token (RAINBOW).
What is RAINBOW
Immediately after the release, the RAINBOW cryptocurrency made a splash, selling more than $ 210,000 tokens in 6 minutes after announcing the pre-sale. Thus, more than a thousand people invested in the project immediately after its opening.
The uniqueness of the token lies in the combination of all the protocols of the system. These include the ability to receive additional tokens in the lottery and the ability to donate them to charities. It's not a secret for anyone how cryptocurrencies have negatively affected the energy industry in recent years, thereby negatively affecting the environment. With RAINBOW, you can contribute to the remediation of the adverse effects of the cryptocurrency industry.
Any transaction on the Rainbow Token network is charged a 7% commission. This tax, in turn, is divided into seven equal parts, providing the essential functions of the token.
Rainbow Token includes seven innovative solutions and BEP-20 protocols. He is using these protocols together, combining them into a powerful crit project ready to withstand any rate fluctuations.
So let's take a closer look at the main 7 RAINBOW protocols in more detail. Each of them is named after the primary colors that make up the classic rainbow. Namely:
Red or Burn. The function of burning tokens from the circulating supply after each transaction. The protocol transfers 1% of the burned tokens to the so-called dead addresses. These addresses do not have an owner since they do not have a private key, so the protocol irrevocably burns tokens and reduces turnover. As a result, with an increased demand for RAINBOW, part of the tokens will always be burned, positively affecting their value.
Orange or Buyback. The buyback function also collects 1% of tokens after each transaction and stores them for sale and subsequent buyback of tokens and liquidity pool. But tokens bought in this way are instantly burned. The orange function allows you to raise the lower limit of the RAINBOW cost. The Buyback protocol is thus causing a stir.
Yellow or Reflection. It's a feature that allows you to increase your balance simply by keeping tokens. It works in such a way that 1% of each transaction is returned to each participant, distributing the amount between them depending on how much RAINBOW is in the holder's wallet. Thus, by investing in RAINBOW, you have the opportunity to receive a percentage of the available tokens for any transaction. Also, this feature encourages the owner to keep more tokens in their accounts.
Green or Charity. This feature allows you to invest in the planet's future by donating 1% of each transaction to charity. Tokens directed to charity go to fight poverty, research the fight against cancer, and solve environmental problems and various kinds of animal shelters. All organizations that receive funding from RAINBOW in this way are officially registered. Each investor can independently track where exactly is directed and what amount.
Blue or Auto-liquidity is a function that allows you to increase a token's liquidity by automatically sending 1% of each transaction to the liquidity pool. This feature also enables you to raise the lower limit on the token's value as liquidity increases after each trade.
Indigo or Marketing & Development is a protocol that provides direct funding for a project. Thus, RAINBOW was not initially distributed among the developers. Still, the function of transferring 1% of each transaction to the marketing wallet was prescribed. Developers use funds from this wallet to promote the token and popularize it. Thus, the Indigo protocol makes the crypto project self-sufficient without requiring third-party investments.
Violet or Lottery. The protocol takes 1% of each trade and sends it to the lottery bank. When a certain threshold of the amount in the bank is reached, each participant in the transaction gets a random number. Then everything works like in a lottery - the more losers, the more significant the amount in the bank. Thus, the Violet protocol stimulates investors, purchasing RAINBOW an exciting and intriguing experience.
The AWT mechanism allows you to successfully dump large sales, thereby preventing the dumping of tokens. As you know, this kind of large dumping leads to panic in the market, which confuses most investors.
The essence of AWT is that transactions over 500 million tokens are taxed at 21%. Thus, large investors are not eager to sell their RAINBOWs.
The AWT mechanism also allows you to track the history of sales from one wallet within 24 hours. Thus, if the amount of sales exceeds the designated limit of 500 million RAINBOW during the day, the commission will be automatically deducted from this wallet.
RAINBOW Positions on the Crypto Market
Since the beginning of the pre-sale, Rainbow Token has shown great potential. It could be a good investment opportunity.
At the time of writing, Rainbow Token is trading at $ 0.000000013498 with a project market cap of $ 11.0 M.
The value of Rainbow Token is expected to continue to rise, as scarcity tends to drive upward price gains. As of October 23, 2021, 29,234 people have already invested in the project, and the liquidity of the cryptocurrency is $ 970.8 k.
Investors in Rainbow Token have already donated over $ 12,500 to charity, which has made the cryptocurrency very popular in the market.