Reducing BAMBOO’s circulating supply
Following Bamboo DeFi’s Whitepaper, there are so many movements we need to achieve what we offered you. Due to that, we’re announcing today a big update that will be available sooner for $BAMBOO holders.
🔍 A quick overview of what we will tell you:
- Main reasons to reduce rewards are to regulate the circulating supply and reduce inflation/deflation.
- The amount reduced is 50% which means you will now receive 50 $BAMBOO per block.
- The reduction will be effective the August 17th, 2022.
- Gamification, specifically Hashapon, is essential to achieve it.
- Our team is working to reach new goals and create new objectives!
Reasons for the incentive reduction
As most of you may know, there are many possibilities to earn money while trading your cryptocurrency in our DeFi: pools, farming, friends or field.
However, after months of giving good incentives to our followers and holders, it’s time to reduce it. The main reasons are:
- To control the balance between the issuance and the incentive.
- Manage inflation and deflation of the token.
- Reduce circulating token supply.
- Reward those who have bet on Bamboo DeFi’s project.
Probably there are more reasons, but these are the ones we think are more obvious.
How much will it be reduced?
The incentive reduction will modify every product we have on the exchange by a 50%.
It means that if you before were obtaining 100 BAMBOO per block, now you will receive 50 BAMBOO in the same situation.
When will this step be effective?
We are conscious that probably not all of you know about this issue. Therefore, we will leave you fifteen days until today to move to this new measure.
Specifically, all incentives will change their numbers the August 17th, 2022.
Hashapon and the importance of gamification
In addition to the reasons commented above, gamification is a big part of Bamboo DeFi’s project. As most of you know, Hashapon is one of the gamification projects of the Bamboo DeFi’s ecosystem, and its objective is crucial to burn and rebuy tokens.
The reason is simple: token burning will reduce the circulating supply.
Bamboo DeFi in the future
Despite that, there is so much to explore for us! Bamboo DeFi is looking to solve some issues that are actually affecting us: our brand ecosystem, our website or even the product we offer you.
We’re working on these issues to reach new goals and outline new objectives to take the DeFi to the next level.
Remember that you can find most of the information given in the Whitepaper document:
- English: https://www.bamboodefi.com/assets/bamboo-whitepaper-en.pdf
- Spanish: https://www.bamboodefi.com/assets/bamboo-whitepaper-en.pdf
Also, following our social media accounts, you will be informed before anyone else: