Hyperdeflationary Token Redefines Decentralized Finance and Provides a Solution to Protect People's Wealth

Inflation was once considered temporary as the U.S. economy shifted from dealing with the pandemic to more normal operations. Unfortunately, far from unwinding, inflation has not eased at all, as many citizens have seen the price of food, cosmetics, and other necessities rise without a commensurate increase in wages. Many economists have since recognized that inflation is likely to continue into the new year.

Inflation itself would be a product of the world's preparations for recession, while increased government spending would lead to a quick recovery. Businesses have since been forced to adapt quickly to meet this demand, which has knock-on effects on their supply chains. With key supplies in short supply, many businesses are being forced to pass some of these costs on to end consumers, creating a very real problem as people's savings accounts start to shrink.

For this reason, assets with a deflationary base, or those that reduce supply over time, are key to preserving personal wealth. This is true because as supply decreases there is a corresponding increase in demand and price. GOMA Finance is one of these assets, which has been maintaining a continuously decreasing supply. The token itself will have a maximum supply of 1000 trillion starting in June 2021. Now, just 5 months later, 90% of GOMA tokens have been burned from circulation, leaving only 10% of the supply. Therefore, whether by holding assets, participating in liquidity mining or staking through GOMA's DeFi platform, users have more opportunities to earn income.

According to a project team member, the need for GOMA Finance arises because “inflation is proving to be more than temporary,” making “deflationary assets critical.”

DeFi for the masses

The GOMA ecosystem continues to deliver value through the use of tools and mechanisms that help DeFi (Decentralized Finance) and Non-Fungible Tokens (NFTs) work for everyone. GOMA tokens currently exist as BEP20/ERC20 tokens on Binance Smart Chain (BSC), which helps the team guarantee lower transaction costs and higher transaction throughput, while also ensuring holders have the opportunity to earn money.

While many still see DeFi as complex, risky, and lacking community focus, GOMA has set their sights on redefining the concept of decentralized finance with their hyper-deflationary token. GOMA tokens have the function of burning and redistribution within the token. 3% of each GOMA transaction, including purchases and sales, will be redistributed to GOMA holders. This mechanism is designed to encourage long-term holding. For users, this means that the more GOMA they hold, the more they will be rewarded and the more passive income they will be eligible for.

Here are more insights on GOMA Finance

The token can also be used to actively stake other limited-supply tokens such as TORII, which has a fixed maximum supply of only 32,000. It is said that TORII is comparable to Yearn Finance, a set of protocols that run on the Ethereum (ETH) blockchain, and TORII is only on BSC, running with a fixed supply of 36666. For GOMA holders, this means that they can simultaneously increase their GOMA and use some of it to earn TORII.

rapidly growing community

Since the launch of GOMA Finance in June 2021, the team reports that the Telegram community has tens of thousands of supporting team members, a growth of 376,000% since the initial coin offering of $0.00000000029. To continue driving these same levels of growth, the team is pursuing a strategic partnership with TORII Finance and STEM.xyz, a platform to accelerate the creation of NFTs.

Among these growth opportunities, the platform encourages their community to follow the launch of the GOMA NFT marketplace, add new strategic partnerships, launch tokens on new exchanges and games on Agareum.

Learn more about GOMA Token

Original link: https://cointelegraph.com/news/hyperdeflationary-token-redefines-decentralized-finance-with-a-solution-to-preserve-peoples-wealth