The future of finance and investing undoubtedly includes cryptocurrency, not only because of its decentralized system that makes it accessible to everyone but also because of its intrinsic value. As each token has its own value, holders have the capacity to diversify and hold multiple tokens. As the second largest cryptocurrency by market cap, Ethereum has facilitated many innovations and adoption projects, and the general consensus is that the coin is significantly undervalued. Recognising the opportunity to capitalize on this, BankEth was in part created to reward holders by directly giving them the ability to earn Ether, just by holding BankEth tokens. —
BankEth is a community inspired project with a clear intention to establish itself in the DeFi Space as an innovator, a disruptor & a market leader. With an inspired team, BankEth have a simple approach to their project, to reward their community with Ethereum.
BankEth has a unique approach to their tokenomics that separates the price of the token from the reflections given to the token holders. When buying or selling BankEth there is a tax paid in Ethereum which is held in the BankEth Vault. The Ethereum in the vault is then allocated to BankEth holders and the allocation is based on the holders total holdings versus the total supply, ie. if you own 2% of the supply, you are allocated 2% of the Ethereum in the vault. It only took the project 44 days to generate and distribute 1,000 ether in reflections to BankEth holders.
BankEth has built their own “BankSwap” facility, which allows for a seamless & simplified purchasing experience. BankSwap facilitates the purchase of BankEth with ETH, USDT, USDc & also with Fiat (in 38 different currencies), cutting out the need to buy from an exchange or any other third party swap facility. Simplifying Defi projects is needed as more & more people look at Crypto as an opportunity to diversify their assets. BankSwap reduces the number of steps for entry & will have an additional appeal with those new to the market.
Along with BankSwap, BankEth has a Dashboard which provides details including current holdings, price, claimed & unclaimed Ethereum from the vault. It’s functionality makes it the central hub to manage your holdings. From the Dashboard, you can buy, claim & stake & access all information relating to BankEth.
Unlike other tokens, BankEth does not require staking to earn Ethereum, however, staking options are about to be released which will further increase the potential yields with the token. Even without the staking option, for example, with a daily BankEth trading volume of $100,000, APY is still around 30% (including the current high gas fees) and at it’s peak of $8 million volume, APY was around 2300%. Compared with other staking or reflection tokens, it is hard to find similar returns.
Banketh is an ambitious project with an ambitious team. The Road Map is available on their website with their goals & targets to be released over their projected timeline. Staking is the next big release but other notable targets include the option for reflections to be redistributed in other tokens besides Ethereum & a community managed Decentralized Autonomous Organization (DAO).
Release ID: 89045423