Token addresses rising prices following the pandemic

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Token addresses rising prices following the pandemic

As inflation spikes from 2% to nearly 5% this year, the population turns to solutions in decentralized finance.

Consumer prices are now rising faster than they have in years, a concept known as inflation. Today, prices have already climbed more than 6% in the last year, an increase that is so great, numbers like this haven’t been noted since 1990. Over the last ten years, inflation has typically stayed under 2% per year. However, recent data has shown that this year the number is closer to 5%, with the population noting increases in what they have been paying for energy, shelter, used vehicles and food.

The federal government operates to keep this growth stable, only now letting everyone know that it is the time to expect higher inflation as a direct product of industries trying to get back to normal. But, while this pressure is said to pave the way for more consistent growth later, many have found this to be otherwise with assumptions this will continue long into the future. In conjunction with this, many Fed officials have already admitted that inflation will last much longer than expected.

GOMA token aims to change this bleak outlook with a utility-focused community and technology to help society maintain its financial wellbeing. Introducing the team’s hyperdeflationary decentralized finance (DeFi) token will offer its holders opportunities to maintain their wealth, even building on it with staking and yield farming. With these provisions, the team behind the GOMA token believes they can address these periods of inflation that wipe out a person’s wealth.

Five months after the token launch, 90% of all existing GOMA have already been removed from circulation through a process called burning, leaving approximately 100 trillion tokens remaining, which accounts for only 10%.

When two come together

In practice, the GOMA ecosystem requires the actions of two tokens, one that acts as a value stabilizer and drives continuous demand for the ecosystem, a token by the name of GOMAx. GOMAx is designed to redistribute, or reflect, Binance Coin (BNB) to those holding it by considering their current holding ratio of GOMA: to GOMAx. The platform will then redistribute 3% of each transaction to the holders of the token. Additionally, the GOMAx token further acts as a level of certification of eligibility, indicating a holder will become eligible to earn a portion of the Binance Coin tokens that exist in the reflection pool. However, users must maintain a certain balance to unlock these earnings, encouraging asset holding.

The second token is GOMA, the primary ecosystem token. GOMA is used in all actions regarding staking, farming, nonfungible tokens (NFTs), redistribution, with a number of other limited supply tokens such as TORII being made available for users to earn through the staking of GOMA. Furthermore, GOMA offers governance functionality, allowing the team to gather a community consensus to influence future network progress.

These two tokens are brought together in GOMA.FI, a dashboard that provides ecosystem reward metrics and other insights, along with the other tools necessary to help the population grow their wealth rather than lose it through inflation. GOMA.FI then becomes the access point for the two tokens the ecosystem thrives on.

Bringing DeFi to the masses

The team’s value ecosystem is built around the tools and mechanisms that make DeFi and NFTs accessible to the masses, with the team knowing firsthand how DeFi can change the future by building a strong community first. Strategic partnerships, including GOMA token’s collaboration with STEM.xyz and TORII Finance, become foundational for future growth, along with announcements of the team joining their first centralized exchange (CEX).

Success to date has been indicated by the token’s 376,000% increase from its original launch price In July 2021.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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