Fantomnomics IDO Whitelist on Astronaut
“Fantomnomics is the spookiest rebase token with a Fantom (FTM) BEP-20 redistribution built into its contract!
What is rebase? It’s basically adjusting circulating capacity i.e decrease by burning out the tokens or increase by adding tokens to supply — including all holder’s and LP’s holding tokens count. This is done in order to adjust the token price, without affecting the value of anyone’s share of coins. This increase or decrease in supply works with a mechanism that adjusts the supply algorithmically
Let our brains grab the above definition with an example
Let’s say at some time x , circulating Supply is 1,00,000 tokens And you hold 1000 tokens each of value 1$. Let us assume that negative rebase happened by 10%.
Now the supply will be 90,000 tokens and your holding count will be 900 with each token valuing to 1.12$ (expected ideal price but in reality it varies depending on various factors)$ 1,000 X 1$ = 900 * 1.12$ $$
But here, ration of your tokens to total supply will remain constant
holding/supply before rebase = holding/supply after rebase
$1,000 / 100,000 = $900/90,000
This causes a very bullish chart that consistently looks like you have immense gains and allows you to easily trend your token on the top tracking websites such as coinmarketcap and coingecko in the top gainers section. In reality though the growth is slow and steady its just the rebase in effect, Now thats a scary thought! “
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