Binance Smart Chain (BSC) is one of the most used chains currently. The network is known for its affordable transaction cost and scalability. Unlike most networks in the digital asset community, BSC is fast and efficient when settling transactions. This has helped BSC’s native token, BNB, skyrocket within a short period. Similarly, BSC processes millions of transactions daily, attracting more members of the digital space. Recent reports show that the Binance Smart Chain processes more transactions than Ethereum daily—making it one of the most reliable chains. Additionally, programmers are leveraging BSC to bring in different projects, which may help digital asset adoption by the mainstream. In this article, we will be looking at everything concerning BscArmy.
What Is A Decentralized Autonomous Organization (DAO)?
DAOs are standard features in the digital asset space. To promote unity and inclusivity, communities operate a DAO to ensure everyone has a say. A DAO is an organization controlled by the community and not by a central body. This way, the protocol achieves a higher level of security and privacy. And since decentralized autonomous organizations utilize smart chains to fulfill obligations, users can trust the system’s fairness, especially in terms of elections.
What Is BscArmy?
According to the official website, BSCArmy is the first decentralized autonomous organization (DAO) centered on social media industries on the chain. Similarly, the community created this new initiative to drive the smart chain’s popularity and promote the global adoption of digital assets.
BscArmy is a community-driven approach to create awareness on Binance, BSC, and BNB. It aims to support Binance Smart Chain projects and bring in more investors to use and invest in Binance products, such as the BSC and BNB. In a way, this may help strengthen the growing Binance community and could also accelerate growth. The project also has a native token—the BARMY token, which incentivizes supporters and investors.
Essentially, this project is for passionate supporters of the BSC. It hopes to advocate for the use of the project. Presently, the project has received positive responses from passionate users, and Binance’s CZ also showed a positive outlook towards the project. The entrepreneur tweeted on BSCArmy, assuring the community that he would buy back artworks in the future.
What Is BARMY?
BARMY is the native currency of BscArmy. According to the official website, the token is for governance, and it also rewards holders with special benefits. When communities use a token for governance, interested voters need to own the specific token to vote on proposals. This is a way to support and accelerate community growth. As a BSC-based token, BARMY leverages one of the fastest networks in the digital asset community. The total supply of the digital asset is 880,000,000,000, and about 10% of the supply adds liquidity.
Features of BARMY
The BARMY token has some features, which may theoretically prevent a price crash. Price crashes are common in the crypto community, especially in terms of meme coins. The BscArmy community claims the features would protect the interest of the community. The community asserts that it utilizes RFI Static rewards, Meme bounty, and automatic liquidity pools to prevent drastic price falls.
RFI Static rewards
The BscArmy community plans to use this mechanism to promote asset holding. When people hold the BARMY token, they get rewards, discouraging sell-offs. Similarly, holders receive rewards based on the number of tokens they hold. People holding large numbers of tokens may benefit more from this feature. This should encourage more holders to hold and buy BARMY.
Automatic Liquidity Pool
The automatic liquidity pool is another feature that the community plans to leverage to prevent a price crash. Liquidity pools help users purchase or sell assets on a decentralized exchange without a central body. The liquidity pool works in two ways. For one, the pool adds tokens from the parties to the pool, helping the token gain liquidity. Liquidity is crucial in the digital asset community, assisting individuals in settling transactions without a hassle. Additionally, the pool charges a 10% payment on transactions when parties plan to leave the pool. This way, there is less likelihood of a price crash even when large holders sell.
According to the tokeneconomics, the pool will distribute the 10% charge into different aspects. First, the pool will add 4% to increase token liquidity. Also, the community will reward 1% of the tax to holders, and they will distribute 2% to staked BARMY tokens PoolX. Finally, the community will burn 2% of the token, while the remaining 1% will be given to BSC army members.
Meme Bounty Program
The community organized this program to encourage the shilling of BSC on Twitter. This program is for people who create good content for BSC. They earn some tokens as rewards. Since the community hopes to advocate for Binance projects, it’s not surprising that BSCArmy is interested in creating awareness on BSC. Presently, only Twitter users get rewards for shilling the chain on Twitter. However, the community can support other social media networks in the future.
BscArmy Products And Services
BscArmy plans to leverage the community’s growth to drive marketing, creating awareness for new products and projects. Presently, some groups benefit from this community’s products. First, digital asset investors in need of information on new products can get information. The community plans to inform investors on new Binance projects, leading to more significant investments. Similarly, participants may also benefit from rewards resulting from social media support. BscArmy offers these products to the community:
Information on the Binance Smart Chain ecosystem
BSC is one of the most popular chains in the digital asset space, so it’s not surprising that people need information on BSC projects. BscArmy plans to use commonly used social media platforms to create awareness of products. The social media platforms include Twitter, Instagram, and Tik Tok. This information may help investors make better investment decisions, particularly for BSC products.
DAO
This is another product of the relatively new project. BscArmy plans to create two levels of decentralized investments for BARMY holders. Holders can also choose not to join the investment if they are not interested in it. The first category of participation is users with 10 million BARMY tokens. Holders with more than 10 million tokens can choose to join a telegram group chat where the community will share slots of IDO that the community has invested in. The second category is people with more than 10 billion BARMY tokens. They can also choose to join a price telegram group, where the BscArmy will share seed rounds, IDO, and ICO projects that the community has invested in.
Is BARMY Worth It?
With the continuous growth of the BSC ecosystem, BARMY seems to have a lot of potentials. Despite being a social media DAO built to support Binance projects, the community also offers other products and services to benefit the crypto space. However, the token’s supply is quite large, making it difficult to achieve significant price growth unless the community burns a large part of the present supply. Still, you should buy the token if you believe it has the potential to record greater highs.
