Sponge token $SPG, high passive yield token that absorbs tokens from other transactions !
Hello folks ! It’s Decentralized Stef speaking, passionate DeFi investor, trying to upgrade to DeFi ‘fun’ provider ! I’m not alone we are a team of 3 for now, and hopefully my mates will introduce themselves soon !
So first we want to insist on full transparency ! And we have to admit that it’s our first project out there, that’s why we will keep it simple, but still fun and potentially super rewarding !!!
To help us surviving into the BSC jungle we are backed by a BSC France Community, if you can handle more french words than “baguette”, “omelette au fromage” or“merde” just join their telegram you’ll have some fun I promise. Big up guyz !
Sooooo… Let’s jump back to the real subject out there : The project !
Well, our project here is no more than ONLY A SINGLE TOKEN and it’s called $SPG (Sponge token) !!!
…mhmm what ?
More seriously, we have ideas for a full financial ecosystem coming with it but we also have other projects ideas, so this will depend on how the community react to this first token but expect a second token soon with some $SPG buyback ! Remember that $SPG will be the main token of the ecosystem.
So now I’ll expose tokenomic and you’ll quickly understand why the token is in itself already a good investment :
- Max supply is 100k $SPG (will decrease over time, read further !)
- 80% of max supply will be emitted over 2 months by a Tenet liquidity tap (BNB/SPG) https://bsc.tenet.farm/ if you don’t already know it, Tenet provide the ability to create pool farms from their user interface (see why we use Tenet at the end of the article) ! Expect Degen APY in the first hours !! We will double rewards for first days ! FARMING OPEN 01/16 16:30 UTC here -> https://bsc.tenet.farm/pool/detail?id=10
- 10% used to provide initial liquidity with 50 BNB coming from dev pocket (might be removed at some point when there will be enough liquidity in the pool).
- Other 10% are kept by team for events and further dev if needed. But expect some fun events & huge rewards ! UPDATE: We already might have a partnership coming, these 10% supply will probably be used to be emited as a stacking option in a well known dapp of BSC, soon more infos !
- Here comes the fun part : 6.66% taxes 👿 🤘 on each transactions ! 5% goes PROPORTIONNALY to EVERY HOLDERS of $SPG ! This is done automatically, you don’t have to do anything (because we all want to get richer doing … nothing !!! … That’s NoJob Finance mantra boys 💲💵) ! So understand that the more you have, to more you will passively get and this will happen on every $SPG transaction in the cryptoworld ! ! And we also have 0.16% that is burnt forever (because we want $SPG to be more and more rare) but be aware that the burn adress will also get redistribution so we will have increasing ‘implicit burn’ over time, and finally 1.5% to dev and partner wallet.
Ok Ok… Here is an example :
You have 10k $SPG (meaning 10% of max supply… yeah you’re rich, you’re a whale, you probably drive a lambo… but stay focused it’s only a damn example bro !) and someone sell 1000 $SPG… Infact only 933.4 $SPG will be sold and 1.6 will be destroyed forever (0.16% burn), 15 will be sent between partner and dev wallet potentially used later for extra event (1.5% dev & partner wallet) and 50 will be sent proportionally to every holder of $SPG token (5% redistribution)… And guess what ! You are a $SPG holder, you have 10% of supply so you will get 5 $SPG token automagically coming to your wallet !
Concerning burn adress, in the previous example, imagine in early phase of the project burn adress have only 100 $SPG, that means on the previous transaction it will only get 0.05 extra token from the redistribution. But in some months depending on volume the burn adress might have also 10% of supply (10k $SPG), then 5 extra $SPG will be burnt… So burn is gonna implicitly increase over time !!
If you still haven’t understood I have a pro tip for you : Just buy $SPG as much as possible and hodl, and your stack will grow and grow ! (This is no financial advice ofc)
Last thing you need to know, we can’t scam or rug pull you, as there is nothing more than a token, this mean one smart contract only. Supply is limited and we can’t add more token once token is released. It’s 100% safe boys !
Why using tenet farm ?
Consider Tenet as an extra security from us, their farms are auto generated and the project is fully secure and audited. That means that your LP tokens are safe there. Plus you will enjoy dual farming with the $TEN gifted to users of the $SPG/BNB farm !
Telegram : https://t.me/SpongeFinanceChat
Twitter : https://twitter.com/nojobfinance
That’s all for now, more news coming soon !