Cronosphere — Another Timeline Altogether
Hey fellas, Mark here. I’ve been lurking in Telegram for a while now and though I am pretty much very low profile, counting every reflection of $SPHERE that comes my way, I still see quite a number of queries with regards to investing in Cronosphere and how do the tokenomics work.
JPMoreGain, the La-Z Mod, was supposed to get his act together and release a whitepaper of some sorts but all I can see him doing is spending time making memes and gallivanting on Twitter. The title truly suits him to a T. But fret not fellow investors, here’s my quick take on Cronosphere, how it works and some strategies that you can consider employing depending on your risk appetites.
In my timeline, everything I say is financial advice. Should you find yourself in a life-changing position, feel free to contact me and share your gains if I had influenced you in any way. Should the opposite happen — email me at firstname.lastname@example.org and I’ll see what we can do to get you back on track.
The token is designed as a deflationary protocol. That means that the amount of tokens circulating is always reducing in quantity. It started off with just 1 million and is now around 910K at the time of this writing.
Find the address that says 0x00000000000000000000000 which is the burn address and deduct it’s amount from 1 million. That will give you the current available supply.
Read on and understand the underlying tax of the token itself too. For every transaction of the token — basically buying and selling, there is a 16% tax on the transaction in $SPHERE. It is further broken down as explained below. Let’s use an example and imagine that you purchased 100 $SPHERE.
8% reflections to existing holders
8 $SPHERE will be deducted and sent to everyone who is holding at the time of the transaction. Say there are 10 users each holding 10% of the total supply, each of them will receive 0.8 $SPHERE reflected to them.
4% auto liquidity
4 $SPHERE will be sent into the liquidity pool at https://mm.finance where $SPHERE is listed. This increases the amount of $SPHERE in the pool and makes it more resistant to sudden volatility from whale activity.
3% burnt forever
Remember how I taught you to check circulating supply above? This is the reason for the constant deflationary pressure on the token. Every transaction from anyone just reduces the supply even further. And if you know basic economics 101 like I do, supply vs demand is heavily affected here.
1% Development Tax
The developers at Cronosphere took a huge risk launching the protocol without keeping any tokens for themselves. Thankfully it has grown substantially and they are able to accrue some funds for future development. There is a vault planned for release and some talks about an associated NFT project. But these all require funding and this is why the tax for it.
Riiiight! Let’s move onto the main purpose of what I am about to share. Let’s imagine how transactions affect the amount of $SPHERE you have and things you need to consider if you decide to liquidate.
When you purchase $SPHERE, you will receive approximately 16% less in $SPHERE than what you swapped for due to the tax. At the same time, you can almost hear the cheers going up in Telegram as the guys start receiving their reflections. It’s tough but a necessity.
Once you are in, the game changes quickly. Now every buy and/or sell will result in you shouting yourself hoarse from getting your reflections with the rest of the folks. It’s seriously addictive and might I daresay — a fucking joy!
Prices aside, the 8% reflections does yield an extraordinary amount of $SPHERE being automatically credited into your wallet. What I like to do is screenshot my amounts before bed, and wake up to a nice surprise. Have been doing this for the past 3 days!
Now, I haven’t had any intention to sell any of my $SPHERE tokens yet. But as the outgoing sellers liquidate their bags, the same amount of cheers go up in Telegram (reflections again) as the door closes on them on their way out. I have seen some early sellers watching everyone else from the outside through that misty window of the exclusive Holders Club, never able to come back in again.
So there you go! I hope I have explained some of the features of this wonderful protocol — Cronosphere and I hope you have learnt something new today in the world of cryptocurrency.