Many people think it's impossible for a reflection token to thrive. This belief is wrong, it's just that any token if done right is a lot of skill, work and time. By saying this Reflection tokens are extremely hard to manage and develop, it's a challenge for any developer which is why many of them fail in the long term. Having a reflection token by itself isn't what makes it thrive; it's best attached to existing project. You have to balance a lot of different things, all at once - supply, liquidity, rewards, use case development, integration with additional project endeavors. - The@Empress
There are few people in the @SmartBCH community that I will follow blindly, and the @Empress is one of them. She created a sassy reflection token with a bit of a spin. Rastjn is the Kingdom’s Profit Sharing & Liquidity Machine! Hold it in your wallet to receive a share of the profit and additional bonuses over time.
There is a 10% transaction fee for Rastjn. From the fee, 7% is shared as yield to all holders, 1.5% goes into Liquidity Rastjn – BCH pair on BenSwap and 1.5% goes into the Dev address.
That sounds like music to my ears and I went shopping. The Rastjn on the market is limited so I was happy with the 10% price impact, knowing that the fee will be recovered in time.
The next step was to prepare the LP for the Rastjn – BCH Ranch on BenSwap, where 10000 Rastjn are allocated at 0.01 Rastjn emission per block. I never had 9.9% in any DeFi pool so this marks an achievement.
This is the story of how I started farming RASTJN at 5,511% APR, and the support given to my favorite reflection token! For the sake of the experiment, I will share 72 hours of farming!
I also noticed some posts on the Empress noise.cash account, saying that Konra and Narath holders will receive airdrops. I checked my transactions and I was happy to see that I received 5 RASTJN … twice! One $LAW was an extra gift for being an early holder. If you want to add the token on Metamask, the Rastjn Contract Address is 0xc2a19d0a31eb5cf6720f99c06869e283bbef10f3
By now you will have one question… What are reflection tokens?
Reflection tokens are cryptocurrencies that reward holders by levying fees on transactions and then redistributing a percentage of the fees charged to them. The special model prevents whales from manipulating and exploiting small market cap projects because of the reflection token mechanics.
As with all reflection tokens, RASTJN will use the static reward system. Any transaction will incur fees and 1.5% of the proceeds will go into the liquidity pool and 7% will be distributed between token holders.
I farmed 10 tokens just before going to bed, a nice amount in only a few hours.
With the high APR and the above system in mind, I went to bed thinking about how much RASTJN will be farmed until morning. I was pleased to find 18 tokens and I decided to take advantage of the high APR and bought another share.
The best part of the Ranch is the 0% deposit fee! The APR was still amazingly high, at 4,929% on the second day.
By lunchtime I had another batch ready to harvest, which meant another slice to be added as LP. The APR dropped a bit more but is still huge for such a good token.
By evening, you can see I turned bullish on RASTJN! I unlocked more BCH and made sure my bag is getting bigger! The price impact got lower, which was a good sign.
Please keep in mind that the reflection token slippage should be at 10-11% to cover the fees. It’s not a big issue, as the holders will start earning rewards after the purchase. HODL and earn!
This time I gave a full night for farming, and the bigger share of the pool was reflected in a higher reward. More than 40 tokens were waiting to be reinvested!
I reached 51.97% of the pool with the latest reinvestment, adding more RASTJN every block. Day 3 was a busy day at the office so I decided to let the APR work for 24 hours.
The experiment concluded after 72 hours of power farming, starting at 5,500% APR and finishing at 3,505%. It started a few hundred RASTJN ago, as the biggest share pool I had since the DeFi summer of 2020, and will continue farming in the background while the farming rate is still high.