3% of all OrcaX $OX transaction fees are donated to the Binance charity foundation, you can read more about the foundation here.
To date, 225.93 $BNB has been donated to the charity foundation.
I just wanted to highlight this before I get into my OrcaX coin review, as it is a great reason for buying into OrcaX. There are many moon coins out there right now. Most of which does nothing besides generating value for some people. OrcaX does a great deal of good by giving back in areas where it is needed.
Deflationary projects running on the Binance Smart Chain is hot right now.
Unfortunately, many scams and rugpulls are unearthed every other day. Usually, founders of such moon project sit on 50% of the supply. The price pumps up. Founders start dumping their hodlings at an inflated price. Once the dust settled, the price plummeted and the founders walked away with a hefty profit while everyone else suffer losses.
In the case of OrcaX, if I go into the project with some BNB, I won't worry about a rugpull.
All the OX coins earmarked for the development team are locked up for six months. Additionally, the supply set aside for the dev teams is 28,000,000 OX. Or, 4% of the total supply at launch.
An additional 28,000,000 OX - 4% has been set aside for marketing budgets. A small withdrawal is made automatically every day to fund marketing efforts. An example of such is:
Technically, it is a fork of SafeMoon and RavenX.
Leveraging similar burn and distribution mechanism as SafeMoon does.
The fee distribution to BSC charity is achieved through RavenX hard fork.
The simplest comparison is to say that it is SafeMoon with charity functionalities.
The total supply of OrcaX is 700,000,000 OX.
The dev team is holding 28,000,000 OX.
Marketing budget earmarked 28,000,000 OX.
On every OX transaction being made, 3% is sent to the Binance charity fund. 3% is burned and 2% are redistributed to $OX hodlers.
This means that OrcaX supply is ever-decreasing. As the supply is gradually burned, the price of $OX is bound to go up. Of course, the price can go down due to speculation and trading. But fundamentally, if everyone was just hodling, the price goes up in relation to the decrease in supply. Now, OrcaX as any deflationary BSC project, is bound to be extremely volatile.
Until today date, a total of 56.8 million tokens (8.11%) have been burnt.
225.3 $BNB have been donated to the Binance charity fund
OrcaX had a pretty bad timing, launching their project in relation to some negative news relating to Bitcoin which pulled down all markets. Which, in effect, resulted in a big price drop for OrcaX. The price is still very low in comparison to a few days ago. Given that there are several initiatives ongoing to reach more people.
So far, OrcaX have achieved a couple of things:
The following is in the pipeline and should be achieved within the coming 7 days:
The owner of OrcaX has also hinted at some specific news going out tomorrow, most likely unrelated to any of the above. It remains to be seen what that is about.
As already mentioned, OrcaX along with most other crypto projects have been suffering following the recent downfall of Bitcoin (which seems to be stabilizing). This has, if we speculate that OrcaX will get more traction in the coming days as crypto market consensus turns positive, opened up for an opportunity to buy on the lower side. At least when looking and comparing with previous ATH.
However, there are many similar projects out there. What OrcaX has going is:
Would love to see some audits on this project's contract, tokenomics and supply. A certificate from e.g. Hacken would help to build trust between OrcaX and potential buyers.
I didn't decide whether to put any $BNB into this or not. You can get OrcaX from PancakeSwap (make sure to use V1).
You can review it here and verify details on their official website.
Easiest is to swap for BNB. You can get BNB from an exchange such as Binance.
If you missed it, wrote a review of another coin the other day, $RCUBE from Retro DeFi. Already bought into that one.