Campfire is a frictionless, yield-generating token that allows you to hodl comfortably around the campfire amidst the chaos of the market.
What is CAMPFIRE?
CAMPFIRE is a frictionless, yield-generating contract that allows the user to seek shelter amidst the uncertainty of the market. The protocol will launch on the 3rd of June, 2021 through a Fair Launch on the Binance Smart Chain. The token contract employs a static reward system — 10% of every transaction is split into two parts — one part is distributed to holders, while the other 5% is used to fuel the liquidity pool on the PancakeSwap decentralized exchange. The tokens are permanently locked in the LP, effectively reducing the available supply. The token was launched with the idea of creating a community token with a self generating income mechanism for its owner.
The static rewards system is a concept that was pioneered by reflect.finance and popularized by Safemoon. It is a great alternative to the usual high-APY liquidity farms out there because of its unusually sustainable approach. The reward amount is conditional upon the volume of the token in the marketplace, thus alleviating sell pressure put on the token by early investors. In addition to all aforementioned, the mechanism encourages token holders to hold on to their tokens in order to earn taxes from the transactions on the market, which is based upon the percentage specified in the contract and dependent on the total tokens held by the owner.
Unlike other protocols on the market, the contract does not employ a manual burn wallet (meaning the developer does not control a significant portion of tokens that can negatively impact the marketplace) and our community takes great pride in our excellent token distribution:
Automatic Liquidity Pool
CAMPFIRE employs an automatic liquidity pool algorithm (AutoLP) in its token contract. As mentioned above, the network collects 5% from each transaction, whether the order is a buy or sell and adds it to the LP. This also acts as an arbitrage resistant mechanism that secures a portion of the volume of CAMPFIRE as a reward for the holders. The intended goal is to minimize price movements when large wallets decide to sell their tokens in the future, which when compared to coins without an AutoLP system, leads to a reduction in significant price fluctuations.
Security of CAMPFIRE
CAMPFIRE is designed to be secure. As mentioned above, our token distribution is one of the healthiest ones currently available, with no whales controlling outlandish amounts of the circulating supply. In addition, the CAMPFIRE smart contract has implemented two important security features, aimed at making the token fully autonomous and immune to malicious manipulation. Fraudulent blockchain-based schemes running on BSC are rife and continue to grow by the day. We take steps to ensure that CAMPFIRE is as far from that space as possible. The CAMPFIRE team will lock liquidity instantly after launch so that the liquidity pool tokens for CAMPFIRE are permanently locked in the zero-address, meaning that the developers cannot pull the rug on the market, and the PancakeSwap market will always have liquidity on it. Furthermore we will renounce ownership immediately after launch meaning that nobody can change the settings of the contract.
Why CAMPFIRE?
CAMPFIRE differs from the rest of the De-Fi crowd because it has a passionate team working full time to develop a fully-fledged ecosystem of applications surrounding the token. We aim to not only have a financially appealing cryptocurrency asset for short-term traders, but a suitable long term asset for serious long term investors. CAMPFIRE is a yield-generating contract that rewards its holders.
CAMPFIRE belongs to the community and will use its new and restructured team to elevate its status in the De-Fi space, where we intend to reach new, exciting and promising opportunities in markets worldwide. Behind the project is a highly specialized team that dreads the lack of transparency present in other De-Fi coins and is determined to change the status quo with CAMPFIRE.
