Blockchain Carnaval? Brazilian token launched on Binance network
RIO DE JANEIRO, BRAZIL – The DeFi (Decentralized Finance) market has just welcomed a new Brazilian project. Called Carnaval.Finance, the Carnaval CRNL token is designed to be completely deflationary and optimized for holders. In addition to participating in token governance, holders benefit from a number of mechanisms set forth in the coin’s smart contract.
The ecosystem has a pool enriched by a mechanism that sends 2% of tokens from each transaction to provide liquidity. In addition, the project has a reserve of 89,000 tokens that will be burned to ensure greater scarcity. All of these factors together lead to a scheduled deflation that could lead to a price increase.
The crypto has a top offering of 89 million CRNL, in homage to the 89 Carnivals held in Brazil since 1932. Metamask and Trust are the two wallets recommended for users of the token by developers.
The Future of Carnaval Finance
Launched in July this year, the token is still small and its community is growing. The Telegram group has 269 members and boasts a steady increase in members from Brazil and other countries.
According to the roadmap, a schedule of goals that investors should be watching out for, the current period is airdrop, disclosure and token burning. By the fourth quarter 2021, token governance is expected to be well defined and more tokens will be taken off the market. For early next year, “listing on exchanges, NFT and development of new features” are in the plans.
In a Q&A session displayed on its official website, it explains that investors can make or lose money with the token. The digital asset is traded freely on the market and may experience price variations both up and down.
However, there is a safe way to earn more units of the Carnaval token by just waiting for more transactions to take place on the network, due to the 2% distribution to holders. The sudden shifts caused by manipulators, known as pumps and dumps, are prevented by a specific smart contract, according to Carnaval’s team.
The project has appreciated by approximately 1935% since the start of trading on July 19.
More information can be found on Carnaval Finance’s official Twitter account.
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
-0.10%
166,934.20
-0.10%
64,397.45
-0.66%
11,042.67
+0.39%
2,947,349
-1.77%
2,452.46
+0.84%
58,104.31
+0.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 166,934.20 | -0.10% | +21.85% | 167,100.95 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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