Create a Baby Token - Unicarve
What does the term "reward token" mean?
By rewarding users for completing specific tasks, a reward token motivates them. The most prevalent example of this type of task is HODL, which rewards users for merely holding tokens. It works by charging a fee on each transaction equal to a percentage of the tokens transferred.
Following that, the tokens are used to distribute dividends to existing holders. As compensation, you may use your token or another popular cryptocurrency, such as BUSD or DOGE.
What types of reward tokens are available?
The most frequently used type of reward token is a reflection token. Over time, users gain more of your tokens simply by HODLing them in this mechanism. This is a popular choice for a number of reasons. To begin, it is extremely efficient due to the fact that it makes use of a technique called reflection. To keep things simple, Reflection does not require explicit distribution of reward tokens; instead, it automatically adjusts the user's balance based on their current holdings, which saves a significant amount of transaction gas. Additionally, by distributing your own tokens, you avoid the need to sell them in order to obtain BUSD or other tokens, which could result in a decline in the value of your token.
Another type of reward token, dubbed "baby" tokens, such as babyDOGE or babyBUSD, has recently gained popularity. The holders of these tokens are compensated in DOGE or BUSD. While they consume more gas and require the purchase of BUSD/DOGE through token exchanges, investors find them appealing.
How do you create one?
One way to create such a token is through self-programming. Both reflection and reward tokens for infants are intricate. A significant investment is required to understand blockchain programming, create, and test such coins. Even after that, it is likely that bugs will exist in your token, allowing hackers to exploit it.
However, thanks to the fantastic no-code platform Unicarve, there is now a much easier way. The BEP20 token generator platform from Unicarve enables you to create BEP20 tokens with modern tokenomics features such as BUSD or other token rewards, liquidity generation, marketing and charity wallets, and hyperinflationary buyback. Not only does it enable you to create tokens on the Binance Smart Chain with modern controls, but it is also extremely easy to use and one of the most affordable token generation platforms available. Visit https://unicarve.app today to learn more.
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