⚡CBFI Reflection with BUSD, Auto-Support Liquidity Pool & Burning⚡
The crypto community has spoken,, and our users have made their desire clear — they want a yield-generating platform on BSC with genuine utility! ⚡
With that being mentioned, the CoinBox Finance ecosystem is powered by a cryptocurrency token developed on the Binance Smart Chain. It allows all participants to benefit from reduced transaction costs. With 10 billion tokens issued during the pre-sale and 20% burnt, the CoinBox Finance token, $CBFI, is deflationary. 🔥
UNDERSTANDING THE CBFI TOKEN FEE STRUCTURE
🤖 Curious about how the CBFI Token fee works? The CBFI Token has a fee taken out of every transaction. This embedded fee is set at 5% (so if you were to send 100 CBFI to a friend, they would receive 95 tokens). This 5% fee is captured by the CBFI Token contract, performing some incredible automated actions.
Firstly, 2% will be added to Liquidity Pool, and the next 2% is redistributed back to all token holders, continually rewarding our 💎🤲 Diamond Hands family.
🔥The following 1% goes to the CBFI allocated address and will be used as Buyback into LP and Burn into the Death Address that can be verified here transparently.
🏦But perhaps the fascinating feature is how the CBFI Token contract constantly adds never-ending liquidity to PancakeSwap. After collecting a defined amount of the fees, it activates a trade that sells off a portion of CBFI in exchange for BNB and then takes the equal amount of CBFI leftover, adding them both as additional liquidity in PancakeSwap.
It’s impressive to see it in action. It makes you wonder how much liquidity CBFI will have as the future unfolds. You can keep monitoring it directly on the Liquidity Pool CBFI-BNB balance transparently on the blockchain from this link: HERE.
Passive income 💵
The CoinBox Finance token was built on the idea of Reflections, which means that every transactions fee will be distributed automatically by a smart contract.
As long as they hold, aka HODL, their CBFI tokens, they will obtain more BUSD tokens as rewards. CBFI token holders with more than 100k CBFI on their wallet will receive 2% of the transactions fee, regardless of whether they buy, sell, or send tokens, based on the number of tokens they own. The bigger the potential passive income, the more the ecosystem is traded with, and the more $CBFI tokens one possesses.
Price appreciation 💹
As mentioned before, the expected growth in value of the CBFI tokens is the next source of passive income. Unfortunately, the CBFI cryptocurrency has been deflationary since its inception. After the token sale rounds in PINKSALE IDO Launchpad’s success, 1,861,952,000 Billion (18.61%) $CBFI Tokens were burnt out of 10 billion tokens.
In tokenomics, upward price pressure is exacerbated because a percentage of all transaction fees goes toward buybacks and burns, which remove tokens from circulation. This decrease in supply is expected to raise the price in parallel with greater demand for the token in the future.
It can be accomplished by using a “Smart Contract Dividend Tracker” where token holders are rewarded for holding onto it rather than selling it. This encourages people to “hold on for dear life (HODL)” the CBFI Token and helps to stabilize its price.
Sample BUSD auto-distribution by smart contract for Fees Transfer Transaction — https://bscscan.com/tx/0x4081d60ef5074155db06126cf1358235e43d5c32dd7c3d95764985460a3fcd49
Sample BUSD auto-distribution by smart contract for Fees Buy/Sell in DEX transaction — https://bscscan.com/tx/0xf3fc35b69291e90ca2d92b2cced8e513f2c9a41fb6b40053971475a585546fbb
What Are the Three Functions of CBFI Reflection?
As I alluded to in the intro, the three functions of this cryptocurrency are reflection, burn, and LP acquisition.
⚡Reflection — is a protocol mechanism that returns a percentage of the transaction value to the cryptocurrency holder.
A reflection token is a cryptocurrency whose holders are rewarded by levying fees on transactions and then redistributing a percentage of the fees charged to them. A ‘reflective token’ distributes a percentage of every transaction back to its holders. — ICX.
🔥Burn — most cryptocurrency enthusiasts are familiar with the term “burn.” However, the CBFI token uses the technique with each transaction. 1% percentage of each transaction distributed to address in BUSD specifically. This allocation will be used to BUYBACK and BURN, theoretically pushing the CBFI price up by reducing the circulating supply — “the law of supply & demand.”
“Burning” crypto means permanently removing a number of tokens from circulation. This is typically done by transferring the tokens in question to a burn address, i.e., a wallet from which they cannot ever be retrieved. This is often described as destroying tokens. A project burns its tokens to reduce the overall supply. — Coin Desk.
🗳️Liquidity Provider (LP) Acquisition — is when a small percentage of each transaction is added to the liquidity pool. This could drive up the price by making buying the cryptocurrencies tokens on exchanges more affordable.
A key function of automated market maker (AMM) platforms is the liquidity provider (LP) token. LP tokens allow AMMs to be non-custodial, meaning they do not hold on to your tokens, but instead operate via automated functions that promote decentralization and fairness. — Gemini Cryptopedia.
Overall, these three mechanisms help stabilize and increase the cryptocurrency’s price.
How to participate in BUSD Reflection?
Buy $CBFi on PancakeSwap (as an example, connect to MetaMask/Trust wallet)
📍Step 1: Add and select BSC network to MetaMask / Trust wallet.
📍Step 2: Access directly to CBFI-BNB pair using this link: https://pancakeswap.finance/swap?outputCurrency=0xDB0f8CEC7634Cb86de98bd8C23e5b521d66CCb1d
Or you can go directly to the PancakeSwap website.
📍Step 3: Connect MetaMask / Trust wallet
Click on “Connect” at the top-right-end corner. Select “MetaMask / Trust wallet”, and a pop-up will show. Select the Network you want to choose and click on “Next” and then “Connect”.
📍Step 4: $CBFi Token selection
After connecting your wallet to PancakeSwap, click on “Select a Token” and select the $CBFi token.
Set Slippage 5–6%
Pay attention — Make sure you are using the right $CBFi Smart Contract address by checking the address below:
0xDB0f8CEC7634Cb86de98bd8C23e5b521d66CCb1d
📍Step 5: Transfer Binance Coin ($BNB) to your MetaMask / Trust wallet.
You will need BNB or any BEP20 tokens to buy (swap) $CBFi tokens from the available asset BEP20 in your wallet. Enter the amount of CBFI to swap.
📍Step 6: Swap confirmation
Click on Swap and confirm the Gas you are going to use. Then, adjust Trade Slippage Setting for BUY (5% — 6%) and adjust the slippage for SELL (6% — 7%) to enable the smart contract to be processed.
📍Step 7: After purchasing 100,000 CBFIs (to qualify you to receive Reflection from BUSD), you can look directly at the BUSD assets found in your address by entering the BUSD Token Address in your wallet.
BUSD Token Address:
https://bscscan.com/address/0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56
📍Step 8: WELL DONE! Congratulations! You have just bought $CBFi tokens through PancakeSwap and earned the BUSD as a reflection from holding the CBFI token.
You can directly monitor every BUSD transaction received by you in the wallet, and all transactions occur transparently through the CBFI Dividend Tracker Smart Contract at the following address:
https://bscscan.com/token/0x31f9a21e82bbeb870aff7d9e327192236bb7d6b3
Thank you for your continued support!
Join our Telegram community CBFI Official or visit our Gitbook Information https://coinbox.gitbook.io/ and you will find answers to all your questions there. 🥰🌈
