Wilmington, Delaware--(Newsfile Corp. - December 18, 2021) - Cheems Inu, one of many crypto currencies moving around on different trading platforms and crypto wallets that are known as meme tokens or meme crypto currencies. The crypto currency community trades these tokens based on a number of factors involving fundamental and technical information on the token, and the team behind the token. In the center is Cheems Inu; a meme token that has just launched on the Binance Smart Chain ("BSC"), and not yet launched on Binance exchange.
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The Cheems Inu team believes that at the core of this new token on the BSC it stands to properly bridge the gap between the lighthearted fun of a meme token, with the utility and functions of a truly revolutionary crypto project. The team's vision can be summarized in simple terms - to create a universal hub (known as MEMETOOLS) for meme tokens while providing accurate and real time price tracking along with the opportunity for developers to list their projects on the Cheems Inu website. The team believes this is due to the inherent token burn functions (when a cryptocurrency token is intentionally sent to an unusable wallet address to remove it from circulation), and plans to continuously provide investors with fresh opportunities to consider as information becomes available to them from the MEMETOOLS platform. The concept is that besides the exposure that will come from being listed on the Cheems Inu MEMETOOLS site, token developers and advertisers will be able to utilize ad space across the website.
The Cheems Inu token plans to be deflationary through the MEMETOOLS platform. However, the unique approach with Cheems Inu, unlike other projects, is that token burning will be tied directly to its utility, which may give it a healthier and more organic level of deflation when compared with other tokens where burning is 'hard-coded' to occur from trading volume. The idea behind it is that the maximum supply of Cheems Inu is 'hard-capped' at the initial amount upon contract deployment, with no additional minting of tokens to occur. Additionally all listing fees or advertising fees paid to the Cheems platform must be paid using these tokens and the Cheems platform will burn all Cheems tokens used in fee payments, preventing them from being used or circulated again.
Examining the Tokenomics breakdown one can see the below information about this new token and addition to the Binance Smart Chain.
Total supply: 6,000,000,000,000,000,000,000 Circulating supply: 4,860,000,000,000,000,000,000 Maximum wallet size: 3% of the total supply Taxes:10% Buy & 15% Sell 30% of the taxes go towards an automatic burn function where the allotted tokens will be permanently burned from the supply. The rest of the tax allocation goes towards marketing and liquidity.
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SOURCE Vehement Media Private Limited