What is Water Rabbit
Water Rabbit Token (WAR) has recently entered the cryptocurrency market as a deflationary meme coin with a serious underlying purpose. Created by Shanvere DAO, WAR aims to establish itself as a legitimate medium of exchange and store of value, partnering with leading institutions along the way. With the vision of becoming a widely used unit of account, Water Rabbit Token sets itself apart from other meme coins by building a De-Fi ecosystem around its token.
Water Rabbit Token White Paper
At the core of the Water Rabbit project is the belief that the transition from fiat currency to digital currency will be gradual yet transformative. The team, led by founder Anthony Abbin, envisions a future where community involvement and the development of a comprehensive De-Fi ecosystem drive the adoption of WAR. The Water Rabbit white paper outlines the token’s highly deflationary nature, incorporating elements of the zodiac Jade Rabbit within its tokenomics. The project’s roadmap includes the launch of an OTC platform, a dApp, and an exchange.
Facilitating Cross-Border Transactions
The essence of cryptocurrency lies in its ability to enable peer-to-peer transactions across borders. Water Rabbit Token and its community recognize the importance of easy conversion between digital and fiat currencies for widespread adoption. While the growth of digital currencies will not completely replace fiat currencies, Water Rabbit and its community aim to support the smooth transition from fiat currency to WAR and other cryptocurrencies. By fostering worldwide interest in cryptocurrency, they contribute to the ongoing evolution of global financial systems.
Choosing Binance Smart Chain (BSC)
Water Rabbit Token is built on the Binance Smart Chain (BSC), a deliberate choice aligned with the project’s objectives. There are three key reasons behind this selection. First, BSC utilizes the Proof of Staked Authority (PoSA) consensus mechanism, allowing for shorter block times and lower transaction costs. With block generation of 3 seconds, BSC offers faster processing compared to Ethereum’s 13 seconds. Second, transaction costs on BSC are significantly lower, with an average fee of 3 Gwei compared to Ethereum’s 40 Gwei. This makes WAR transactions faster and more cost-effective for its members.
Tokenomics Overview
Water Rabbit Token operates with a carefully designed set of tokenomics. The key elements include: -
- Total supply: 3.17 billion (WAR)
- Burned supply at launch: 2.05 billion (WAR)
- Transaction fee: 9% on every transaction
- Automatic burn: 3% of all transactions
- Reserved for marketing/project development and charitable endeavors: 6% of the transaction fee
- Liquidity locked forever
- Ownership fully renounced
Conclusion
Water Rabbit Token ($WAR) emerges as a deflationary meme coin that goes beyond being a mere joke currency. With a focus on community involvement, strategic partnerships, and the development of a complete De-Fi ecosystem, $WAR aims to establish itself as a legitimate medium of exchange and store of value. Built on the Binance Smart Chain, the token benefits from faster block times and lower transaction costs, providing a more efficient experience for its users. As the project progresses, it will be interesting to see how Water Rabbit Token evolves and contributes to the ongoing transformation of the cryptocurrency landscape.
