The cryptocurrency would have an issue of 1 quadrillion units, according to its website.
The project takes 10% of each operation for liquidity, hodlers and charities.
The recent decisions on Bitcoin (BTC) made by the president of El Salvador, Nayib Bukele, are transcending beyond the monetary interests of his country. Now a group of four enthusiasts and developers from the United States, Honduras, El Salvador and Singapore are creating a cryptocurrency inspired by the head of State.
Dubbed Bukele Token (BUKELE), the crypto asset project is under development and will run on top of the Binance Smart Chain under the BEP-20 standard. The initiative, according to its roadmap, would have been born days before the president announced his proposal to convert BTC as legal tender, a fact reported by CriptoNoticias.
On their website, developers Intvirtue and CryptoSplashBro, along with Donald B. (administrator) and NoDribbleThreat (marketing), present the token as a alternative that gives passive income to your holders (saver), automatically increases liquidity and raises funds for charity in El Salvador. This mechanism would work on the basis that each transaction made must pay 10% of the transaction.
4% would go to liquidity, 4% would be redistributed to the holders and 2% would go to a charity fund that would contribute to local charities in El Salvador. Contributions that are executed can also be tracked
“While it is true that we are part of the team, the project really belongs to the community. Everyone can give ideas to help the course of the project and increase its reach and attract new investors, ” CryptoSplashBro explained to CriptoNoticias who added that the proposal was developed in the Solidity programming language.
Deployment of the BUKELE smart contract
According to enthusiasts, operators can buy or sell your tokens on PancakeSwap and use any wallet, which supports BEP-20, to hold their positions. The token would have a maximum issuance of 1 quadrillion units and according to BSC Scan records, the smart contract address is already active with more than 340 trades.
The initiative, according to its roadmap, is rolling out the smart contract and fine-tuning technical details. The programmer Intvirtue told this newspaper that an audit process has already been carried out by dessertswap.finance.
The plan is to conduct an audit of the contract in August and then migrate, in November, to Uniswap/Matic platforms for further expansion. For the month of July the promoters would apply for the token to be included in the indicators of CoinGecko and CoinMarketCap, in addition to contacting the charities that would be favored with the donations.
The creation of the token inspired by the president of El Salvador is justified by enthusiasts since the president ” has opened the coffers of cryptocurrencies for adoption by entire nations. His move has certainly given a boost to many other countries that might be considering legalizing Bitcoin.”
BUKELE is not the only cryptocurrency inspired by a head of State. There is also the Conchita Token inspired by the president of Argentina, Alberto Fernández. In the description of the project, posted on their Twitter account, the promoters ” aim ” to 1 CONCHITA token represent 1 kilo of polenta, corn flour based food very popular in Argentina.
The recommendation in these cases, for the appearance of new tokens, is to be attentive and investigate as much as possible about their development so as not to fall into potential cases of fraud or scams.