This Crypto is Destroying itself?!
What i think is really interesting about deflationary tokens is how theyre kind of destroying themselves theyre killing themselves theyre, reducing their own supply and theres a lot of interesting economics and really human psyche that comes into play here and how this impacts. Crypto investors and the usability. The more you use a token, the less of them there are, and then you create this scarcity right or you have tokens that just even box themselves out of even being useful but wait its okay because they made themselves deflationary now. So that would be an example of ethereum and eip 1559, while by and large for the actual usability of ethereum eip 1559 made eth worse but its whatever its okay. Nobody cares because apparently theyre moving to ethereum 2.0, but the interesting part of that is that it has made ethereum deflationary. Most of the extra ethereum used in transactions is no longer going to miners and increasing their mining profitability just being burned. Increasing the scarcity of the coins which, if you didnt know ethereum, has no supply cap theres, another new cryptocurrency thats deflationary, but it claims to be hyper deflationary and ultra decentralized. So thats really what were going to be diving into deeper today, but first were going to dive into 10 seconds of tail something we do here every day on the bicycle youtube channel. She owns it. I work here. My name is vosk, make sure to slap that subscribe button and uh lets jump into it.
Bitcoin in the cryptocurrency sector is crazy and honestly theres a lot of scammers out there if youre looking for the best place to buy an asic mining rig as well as get connected to the top co location or simply minor hosting facilities throughout the world, then youre. Looking for compass mining compass is making it possible for everyone to mine, bitcoin, so learn more with the link in the video description below not financial advice. Whatever you do is up to you and its. Your decision only understand that also were gon na. Do a little airdrop hunting today, um, we talked about a little bit before, but anyway ill touch on here in a second pretty cool stuff. You can do all this d5 d gen stuff and also make yourself eligible understand. We are dealing with a new token emerging low cap coin. High risk potential high reward, all that stuff um. You know you get rich, you lose it all thats the game we play, but this is, for entertainment purposes only and to be clear, its also not gambling. So, with uh 20 disclaimers out of the way we talked about ethereum 100 times, ethereum is moving to theater 2.0 right yeah, probably heard about that theres over 8 million ethereum staked crazy over almost a quarter million validators. You know all the eth max melissas gon na be tweeting that thing 5.5 returns on one of the most volatile assets in the game. Just because cryptos, volatile ethereum overall is actually pretty stable and its.
You know good returns, uh and you get better returns on ethereum year every year and then you do bitcoin in the last couple years, but the cool thing and why im talking about it, is that and like this totally just obliterates, the theory minor. So i understand that and i get that weve talked about that, but you go from the flip side. Somebody holds a lot of ethereum and with eip 1559 the ethereum minted for the first day it hit a deflationary it had its first deflationary day, thats weird thats, crazy, thats, thats, pretty cool um. You know it creates that, like a little bit of scarcity, ethereum is a coin with no cap right, um, and so this is the second biggest cryptocurrency trying to you know, get in on the deflationary economics and like the human psyche, boost the interest there, and even You could just say the deflationary token hype, but today were going to focus on anti ample x, amp, oh yeah, ill short link it down below, and so its supposed to be a fair launch token anonymous understand that this is an anonymous dev but but its audited, Which is cool i just connected with metamask. This is on the ethereum blockchain okay, so i have a full video guide of what metamask is how to get set up and run it with that. If this is totally new to you, anti ample x amp is one of the most claimed to be evenly distributed.
Tokens on the ethereum blockchain anti ample began with a total supply of thats, not 1 million thats 1 billion and the rebase function has decreased the supply by over 400 million. Almost 500 million 234 million currently in the ether burn address. So basically, almost 300 000 x amp tokens remain 71 percent of the initial supply gone and at least one percent of the total supply which right there that implies. You know total supply, not existing supply, at least to me. The way it reads um, but total supply will be burned, so thats thats a lot you can buy the token you can stake. The token well talk more about exactly why, but first lets lets talk about risks. Okay, because because thats real, we look at the audit. Hey is audit or hey its crypto.net ive, seen their audits before theyre. Not, you know, consensus 100, 000 audits, but any audit is a good audit and if your audits dont hold up well, then you quickly lose your credibility as an auditing crypto firm. So, with that zero high severity, zero low severity, zero, actually zero everything, um thats, the big takeaway from the audit here, all that stuff will be linked down below you can do more research, which you absolutely absolutely should before you jump into this. This is the a9 dev, and this also is claimed to just simply be his official or the official twitter page for this project. You can see um, you know hes tweets about it regularly.
I encourage you to engage with him and ask him questions about the project. If you want to only 44 members in the telegram group, which is really cool, because you know that hes not buying right, he didnt just buy thousands of fake members which we see on so many cryptocurrency tokens unless he bonded 44 and that just really wouldnt make All that much sense right so so lets look at their white paper and then well, look at buying staking and a fun air drop hunt right. So anti ample was created by an ethereum whale after seeing this the success of ample forth. So this aint not dead bill drummond is referring to himself as an ethereum whale here you know so thats interesting, um heres. The deal is 99 of the liquidity on unit swap for xampp, has been locked and sent to a burn, address forever. Thats, pretty cool im, not a developer verify this read the audit everything like that, but this removes the risk of a rogue pool from happening, because no one has ownership of the liquidity and thats the kind of the thing with rogue pools. You know get going, get the price up. Whatever else and its got, you know, pulls everything dumps the tokens and you know hes off to the races. Um, you know make a bunch of money and everyone else is just left back, holding right, thats. The worst case scenario that is supposed to not be possible here with this token, on top of the liquidity being locked forever, 75 percent of the entire token supply per the white paper here has been sent to a burner.
Address 34 of the entire token supply is locked on uniswap 15 of the entire supply has been locked in a vesting contract and have we ended up with more than 100? I dont know so heres the thing that doesnt make sense, but moving on staking users can stake their anti ample x amp to receive 190 on their stake. As user stake x, amp will be removed from the circulating supply. This should increase the value due to like basically artificial on chain scarcity is what thats like more or less doing as the price is up. Users will earn more in usd value thats the play here so at the time of recording this video. This rebase token and please understand, look up heres a little on screen, graphic and you know explainer, but rebase tokens they rebase, okay, their value, their quantity changes. I hope you understand that when, when you just deal with these because its its a very interesting tokenomic model, token model right, but right now, 0.0056 per x amp and we pull it up on unit swap. So if i was to put 0.1 ethan to it per unit swap im supposed to get, you know about 56 000, but but heres where we get a little bit more excited. So i click over to zaf zapper five already connected um. They have their new quest thing um. So with the quest here um, you can go ahead and you know perform these actions right.
So i already opened it and claimed that, and you can do an exchange every week and you can do one time set an avatar, but you need to be level five to claim that um. The fact of the matter is, is that im very confident, theyre gon na do a token drop and its largely gon na, be based on your level right and and saying, like its probably set a minimum level like level five minimum, a higher level more stuff, more Xp get more tokens. Why do i bring that up when were talking about other stuff? Well, how about the fact i can just punch an x, amp, okay and lets say you know. I want .09 probably give me about 50 000 tokens um, so i can go ahead and exchange on here and whats. Really cool is other than getting obliterated by ethereum gas phase is im going to use the swap feature all it so that it shows the exchange rate theres the transparency here um, you know ignoring the potential fees and stuff like that that they add on as a Dex aggregator, i dont even care because i want to i want to level up. I want to be eligible for air drops, because air drops, depending on the severity of them, you could say they could be worth a hundred thousand dollars, especially in hot crypto markets. Crazy, regardless you should be looking at thousands and, above all, you can even just get tokens that can support a project that can go really far its not always about getting an airdrop and turning around and dumping it.
But if youre watching on screen, you saw that our transaction went through there. I did that. I completed an exchange – a weekly objective here, so i can come over here. I can sign that and i can claim that so i come back and uh. You know for this three days and do it again and so boom, just like that im level, two pending stuff but ill, follow up more with that later. You click this the sync and get hit with a another cassp, but we click over to unit. Swap you see the balance, is there and you know whatever else? The point is we got the coins and we provided ourselves exposure to, hopefully, an upcoming airdrop hell yeah. So now we click back over and if you want to chase the staking rewards with this project, you know we can go ahead and stake tokens. So i bought about 50 000 coins and i can go ahead and stake those and so first i have to allow them to spend my x amp. I i shouldnt click through these things so fast, but understand when you interact with dapps smart contracts, decentralized, application stuff, like that, make sure you read and understand what youre allowing them to do so lets say that there was a bug or an exploit in this. They could only drain my x amp tokens right because thats all that ive approved with them, so i approved them to spend my exam now.
Its a smart contract, interaction here and basically whats happening here is, i would be saying, yeah, invest, you know you. Can you can take the tokens you can spend them, you can stake them with an apy of 190. It seems too good to be true, and quite honestly, it could be. You know, cryptos crazy, so understand the risks associated with this, and also that this is a sponsored review, not endorsement. So when i did that i just put in a flat 50 000 leaving some just you know leftover x, amps. Normally you shouldnt do that you shouldnt, you know, go if youre going to do this theres no point to leave such a low quantity when ethereum gas views are so high, not financial advice, but um. You can see that you know this has been entered and the rewards are already here um, but you know this: they have a good disclaimer here. Just saying hey, this is the ethereum blockchain youre gon na be paying 20 bucks to over 100 bucks to actually claim so youre going to want to wait until you have enough tokens that are even worth claiming because 1.5 x, amp tokens are not worth 33 dollars. If i wanted to go ahead and claim those, so you know thats, it thats the whole overview of the project here, its pretty straightforward. If youre, looking for like d5 d, gen low cap stuff, exciting stuff, you know you want to get out there and have fun and just chase.
You know the the bleeding edge right, newest projects, obscure stuff, that if this takes off you know boom youre gon na be sitting pretty or it could just not do that and you wont get the returns that maybe you were hoping for. Thats crypto thats the game. I play i have fun with it understand it. I understand you should slap that subscribe button to join me on more crazy crypto journeys hit the thumbs up, leave a comment. Let me know your thoughts on this project and, if youre going to airdrop hunt with me as well ill see you on the next video, i said, video weird right there, a video goodbye, please be advised there are scammers impersonating us on multiple platforms. I dont want your money. I just want you to smash that subscribe button. Everything in this video is for entertainment purposes. Only.