ComfyToken launched on Binance Smart Chain on April 17th, 2021 with an initial supply of 1,000 billion tokens. They were first introduced and are available for trade on Pancake Swap, a popular DeFi exchange for swapping cryptocurrencies.
ComfyToken captured the attention of the DeFi space and skyrocketed to a market cap of 15 million dollars on its first day. It has since been in a consolidation and accumulation period, experiencing consistent and steady growth across the board while its holder count exceeded 5000 as of May 9th, 2021.
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ComfyToken sets itself apart by utilizing a unique tokenomics system that mitigates volatility in price fluctuations by discouraging large transactions. The fees associated per transaction are based on a progressive scale. The larger a transaction is in relation to the current circulating supply, the higher the transaction fee. Part of those fees are added to the liquidity pool, while part are distributed back to current ComfyToken holders in the form of Static Rewards, and the remainder are burned.
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ComfyToken’s Static Rewards apply to anyone holding the token. Static Rewards automatically deposit additional $COMFY to holders through reflection. In short, gaining additional tokens through reflection requires zero effort on the part of its holders.
The team has several projects in the works, including ComfySwap (Pancakeswap interface), ComfyNFT (Mint & Exchange), and ComfyDashboard (Charts & Stats). ComfyDashboard takes aim as a full-service charting tool for tracking tokens on BSC. Comfy aspires to become a pillar of the DeFi space, optimizing user experience through innovative tools with unique aesthetics, that raise the bar and set a new standard for projects on BSC.
