The Rainbow Protocol makes use of seven distinctive protocols which can be mixed within the good contract to create a sturdy and resilient cryptocurrency that carries the energy of seven tokens in a single.
Every of those protocols combine distinctive options that make the native token a worthwhile funding. The Rainbow Sensible Contract taxes 7% on each transaction and divides the charges evenly throughout all seven protocols.
This is a take a look at the favored options derived from the seven colours of the rainbow that, taken collectively, give $ RAINBOW a novel place in crypto house:
The purple protocol is the hyperdeflation perform that burns 1% of each transaction by sending it to a useless handle.
The burning mechanism completely takes tokens out of circulation, which narrows provide within the face of accelerating demand, in order that $ RAINBOW can enhance in worth over time.
This method permits traders to stay optimistic about their holdings because the Rainbow neighborhood grows, making $ RAINBOW a profitable long-term funding.
The orange log is the buyback perform that cuts off purchase and promote offers and accumulates the charges within the rainbow contract. The protocol converts these funds into BNB to later purchase $ RAINBOW from the PancakeSwap liquidity pool.
As quickly because the token buyback is activated, the perform mechanically triggers each gross sales transaction to purchase tokens from the liquidity pool. The repurchase quantity is then burned, instantly decreasing the circulating provide and driving up the token worth, creating hype for the Rainbow ecosystem.
The token buyback is crucial because it successfully raises the $ RAINBOW flooring worth and creates incentives for elevated purchases by crypto market contributors on the sidelines.
The yellow protocol rewards all $ RAINBOW holders with further tokens which can be saved easy. The function deducts 1% from each transaction and mechanically returns the funds to every particular person holding $ RAINBOW primarily based on the full quantity of tokens they’ve.
This reflection protocol allows token holders to generate passive revenue over time by simply holding $ RAINBOW. It additionally gives an incentive for customers to purchase extra tokens for larger autonomous revenue.
The inexperienced function is designed to assist make the world a greater place via charitable endeavors. The protocol, which goals to put money into the way forward for humanity and the planet, pulls off a portion of each transaction and directs it to a donation pot for charities.
The Rainbow group is dedicated to utilizing these funds to put money into all areas of neighborhood service together with, however not restricted to: most cancers analysis, animal welfare, well being care, habitat and ecosystem conservation, and poverty discount.
Rainbow allows customers to organically and transparently vote on which charities will obtain funding from the inexperienced protocol. Going ahead, customers will have the ability to use $ PRISM, the ecosystem’s governance tokens, to say which charities the neighborhood ought to assist and to vote on different growth choices that can decide how the challenge might be carried out.
So far, the ecosystem has donated a complete of $ 43,750 to charities worldwide, together with the Rainbow Belief, Save the Kids, and the Oceanic Society.
The blue auto-liquidity function is used to extend the underlying $ RAINBOW liquidity with each transaction.
The log takes a portion of every commerce and provides it to the liquidity pool on PancakeSwap. That is to extend liquidity for customers switching $ RAINBOW out and in of the pool, finally creating a bigger token that’s much less vulnerable to wild market worth fluctuations.
This perform presents the challenge group a small lower to develop and market the $ RAINBOW token. The Indigo protocol takes 1% from each transaction, sells it to BNB and forwards the funds to the advertising pockets.
The group makes use of these funds to publicize the challenge, enhance the variety of token holders and appeal to new traders.
Final however not least, the Rainbow Protocol integrates an automatic built-in giveaway system that randomly rewards customers throughout a $ RAINBOW buy transaction. The perform lets among the tokens develop and retains them in a sidepot inside the good contract.
As soon as the lottery threshold is reached, the protocol randomly releases a further lump sum of tokens. The cash is then mechanically credited to the pockets handle that made the acquisition transaction.
The lottery function gives a further incentive to purchase $ RAINBOW and makes shopping for the token extra enjoyable. The protocol has up to now paid out greater than $ 500,000 in rewards to comfortable neighborhood members who’ve acquired your complete prize pool on supply.