So at the time of writing this post – RavenX has donated 1306 BNB (translates to 817k at this BNB price) to Binance Charities. This token is not even 3 weeks old. Less than 3 weeks old. 817k donated. Let that sink in.
So what is RavenX? It is a token with a unique tokenomic set, consisting of a 9% tax on every transaction, buy or sell.
5% is hard coded in the contract to donate directly to Binance Charities, verifiable on the blockchain. You can see this all on BSCscan.
2% is redistributed to the holders
2% is burned. RavenX started at a 500 million total supply, now it is 438 million. So 62 million in less than 3 weeks have been burned.
The 5% charity donation flows in chunks of 100,000 RX sells. So on every transaction, 5% of it builds up until 100,000 RX are accumulated, then automatically sells for BNB and transfers to the Binance Charity wallet. Yes, this is a negative price impact, but the burn and redistribution compensate for that.
Currently there are around 14500 holders, the market cap is only 6 million at the time of this post. The donation amount is literally 1/8th of the market cap!!!! This is very impressive for such a low mcap coin. Just imagine what will happen when it gains popularity! We might see $1 million donated EVERY DAY!!!! All it needs is a 20 million trading volume for every million donated.
What have they done so far?
So in less than 3 weeks RavenX has been listed on CoinMarketCap, CoinGecko, Blockfolio, Coinbase(for tracking), have been ACKNOWLEDGED BY BINANCE CHARITIES for their donation efforts on twitter, at $350k donated, and most recently, LISTED ON WHITEBIT!!!!
Once the $1 million donation threshold has been passed, expect news to circulate around, whether it be Binance or a tier 1 news outlet!!
I can see this jumping from a measly 6 million mcap to somewhere near 100 million in the near future.
Check them out! The telegram is the most active – you can find all their social info on the newly updated website.
The website also has a tracker for the amount of BNB donated and the USD conversion counterpart.
Like I said, 6 million mcap. Current price is .017-ish. All time high was reached a week and a half ago at .05-ish(22 million mcap).