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Binemon Backs $AMB Token

The PlayAndEarn Dapp looks to solve one of the main drawbacks of auto-staking projects by combining it with the GameFi world.

GameFi and Autostaking

Binemon, a blockchain gaming project on the BNB Chain, announced that it is backing the auto-staking protocol token $AMB, or Apple.

The Binemon team, which recently announced its partnership with Cronos, took to Twitter on April 10 to explain the tokenomics behind the new rewards token. One of the main problems of having an auto-staking token is providing a use case for it. Binemon looks to solve this by adding in-game utility to the token. The protocol plans to use the $AMB token as a payment mechanism within the Binemon Dapp.

“AMB is not just a reward token. It was designed to guarantee earning benefits for both players (Play-to-earn) and holders (Hold-to-earn) by using Automatic Token Protocols such as Buy Back, Burn and Staking,” the gaming protocol explained in a separate tweet.
Source

The $AMB token focuses primarily on benefiting holders and players as there is no portion of the supply allocated towards the development team. The team guarantees its risk free value (rfv) through the protocol’s auto-staking, and auto buy-back and burn features. Binemon backing the token allows the GameFi protocol to use its NFT marketplace fees to buy-back the $AMB token on exchanges.

Visit Binemon’s whitepaper for more information on the $AMB token.

What is Binemon:

Binemon is a virtual pet non-fungible token (NFT) game on the BNB Chain, combining elements of an idle RPG game. Players can collect and trade eggs, ambrosia (fusion), characters, items, and land. In addition, players are connected to fight in player-versus-environment (PvE) and player-versus-player (PvP) modes and receive cryptocurrency rewards. Designed in a comic-like style reminiscent of Pokemon, the game is set on Planet Earth with creatures called “Mons,” created by extraterrestrial creatures and now live on four different continents. These Mons are NFTs that players can collect and use to battle other players and their Mons. Players can also explore the infinite open-world landscape and collect Ambrosia (AMB), the in-game commodity that upgrades and empowers their mons.

Want to know more about Binemon? Visit:

Website | Medium | Twitter | Telegram

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