Introducing the Banketh Protocol Banketh is a community inspired, DeFi Medium

Everyone loves is when the value of their tokens are going up but no-one is pleased to see sudden seemingly inexplicable, volatile crashes. The cryptocurrency markets are indeed volatile in nature — however these dramatic swings in prices could be attributed to large whale investors manipulating the markets with their huge buying and selling power. Keen investor or would be whales still can still purchase Banketh, however they may not be able to dispose of their tokens as aggressively as they acquired them. This is because All sales are limited to an aggregate summation of ≤ 0.2% of the total supply per wallet, every 24 hours. This is designed to hopefully mitigate volatility, limit large volume swing trading, and whale manipulation.

This feature would prevent a massive wallet holder from selling the max 0.2% and then attempt to transfer the remaining funds into a new wallet to try and repeat their intended sale. The token in the wallet would remain locked for the 24 hours and after this time they are free to dispose of up to 0.2% of the total supply. Whilst tokens are locked a user can still claim their reflections or re-invest if they choose to do so.

  1. It is the team’s goal to offer interest earning DeFi options to Banketh holders by leveraging established lending platforms – to earn interest on the Ether reflected into the Vault.
  2. The BankEth price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.
  3. The cryptocurrency markets are indeed volatile in nature — however these dramatic swings in prices could be attributed to large whale investors manipulating the markets with their huge buying and selling power.
  4. This is because All sales are limited to an aggregate summation of ≤ 0.2% of the total supply per wallet, every 24 hours.
  5. The Ethererum in the vault then gets allocated to BankEth holders, based on the investors’ holdings versus the total supply.

BankEth remains hungry and ambitious, setting some big goals and targets to be released over their projected timeline. Staking is the next big release, but other notable developments will include the option for reflections to be redistributed in other tokens and a community-managed Decentralized Autonomous Organization (DAO). Investors are rewarded via 10% of every buy/sell being deposited into the Banketh Vault, ready to be redistributed and claimed by Banketh holders who earn & claim Eth. Banketh is a community inspired, DeFi social experiment where holders of the $Banketh token are rewarded with Ethereum. Users can Claim & or Re-invest Banketh holders have the opportunity to either claim their Eth or claim and re-invest into Banketh at a 10% discount. BankEth employs a unique ‘Time locked wallet mechanism’ – All sales are limited to an aggregate summation of ≤ 0.2% of the total supply per wallet, every 24 hours.

There is a built-in provision designed to protect users choosing to use the re-invest from front-running Bots. Along with BankSwap, BankEth has developed a seamless virtual dashboard, providing the information needed to understand which direction one’s investments are heading. It shows users their https://cryptolisting.org/ current holdings, price and claimed and unclaimed coins from the vault. From the Dashboard, one can buy, claim, stake and access all information relating to BankEth holdings. BankEth has also created its own “BankSwap” facility, allowing for a seamless and simplified purchasing experience.

BankEth: A Smart Investment as Cryptocurrencies Continue to reach New Heights and Markets

It is the team’s goal to offer interest earning DeFi options to Banketh holders by leveraging established lending platforms – to earn interest on the Ether reflected into the Vault. Holders of Banketh with entitlements to Eth reflected in the Vault can claim their Ethereum at any time. The user need only interact with the dashboard and claim, and their Eth will appear in their connected wallet. Users have the unique opportunity to use their Eth in the Banketh Vault to re-invest into acquiring more Banketh tokens at a 10% discount if they wish to do so. This is an exclusive option only available to be acquired with Eth reflected and claimed by Banketh holders.

BankSwap — For a limited amount of time, BankETH is releasing our own personal swap platform. Users are able to swap tokens and coins for BankETH without having to pay an 11% tax. This is to incentivize people to purchase banketh and continuously what is banketh create ETH even with other tokens. By allowing more holders in, we generate more volume on a daily giving users more ETH. We will be stress testing this, gathering data, and finding a way to implement BankSwap as a platform.

Introducing the Banketh Protocol

BankEth is a community-inspired project that comes with a strong community. To check BankEth’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.

More about BankEth

BankEth acted on an opportunity after seeing the growth of tokenomics, to separate the token price from the earnings (reflections) given to the token holders. When buying or selling BankEth, a tax is paid in Ethereum, which is held in the BankEth Vault. The Ethererum in the vault then gets allocated to BankEth holders, based on the investors’ holdings versus the total supply. In simple terms, the more BankEth tokens you hold, the greater the share of the reflections, and, the longer you hold, the more you will earn in reflections over time.

A holder has the option to simply claim their ETH back into their wallet anytime when holding, or they can opt to use that reflection to re-invest. The incentive to use this is that the ETH reflected and re-invested via the dashboard bypasses the 10% purchase tax and buys it directly from the contract pair on the exchange. This gives Banketh holders an option to choose between compounding their Banketh tokens at a discounted rate or by claiming their ETH. Unlike other tokens, BankEth does not require staking; however, staking options are set to launch in Sept/Oct, 2021. This development will further increase the potential yields with the token. Even without the staking option, for example, with a daily BankEth trading volume of $100,000, APY is around 30%.

The user and holder of Banketh tokens can connect their wallet to the dashboard Vault dApp and see what portion of reflections their wallet is entitled to. The share of the tokens in the vault dashboard is proportional to the amount of Banketh tokens a user is holding. The BankEth price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.

This is designed to hopefully mitigate volatility, limit large volume swing trading and whale manipulation. This subreddit is a place to discuss low market cap cryptocurrencies with a moonshot potential. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. Users should also keep in mind the fluctuations in the gas price to pick an ideal time to claim as all interactions with the Ethereum network incur a variable gas fee to facilitate an action.

Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. Cryptocurrency has facilitated many innovations and adoption projects, and there is a consensus that there are many tokens that are significantly undervalued. Recognizing the opportunity to capitalize on this, BankEth created with the intention to reward holders by directly giving them the ability to grow their net worth by investing in the BankEth token. BankEth began as a community-inspired project with a clear intention to establish itself in the DeFi Space as an innovator, a disruptor, and a market leader. All amounts of ETH reflected proportionate to the amount of BankEth held at the time of redistribution when a buy or sell occurs in the market.

CoinCheckup provides live cryptocurrency prices and charts, listed by crypto market cap. Get latest crypto prices, predictions,
news, and historical data for Bitcoin and thousands of altcoins. The Banketh accumulates 10% of all transactions and puts them into the Banketh Vault.

BankSwap facilitates the purchase of the token, cutting out the need to buy from an exchange or any other third-party swap facility. Simplifying Defi projects is needed, as more and more people look at crypto as an opportunity to diversify their assets. In addition, BankSwap reduces the number of steps for entry and will have an additional appeal with those new to the market. Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice.