Promises of higher returns cast doubt on the legitimacy of the project, however, if there are genuine reasons such promises are not bad at all.
In the COVID-19 pandemic situation, people are locked behind doors, they lost businesses, jobs loved ones, and dealt with mental, health problems. In response, many countries tried to support their economies by printing and bringing large amounts of money into the market.
It has been reported that in 2021, the United States printed 40% of all US dollars printed since its inception in 1776. This has raised widespread awareness of a fatal flaw that characterizes all government-backed currencies – governments can print more money.
In the United States, the inflation rate reached 6.8% for 2021, meaning that the purchasing power of the US dollar fell by 6.8% in one year. Americans whose incomes have not increased by at least 6.8% in 2021 will be in worse shape in 2022. Inflation has risen globally – India (4.48%) and the UK (3.8%) have also been badly hit.
How does cryptocurrency claim to be better?
Government can print more fiat currency to increase liquidity in the market, and that’s why people around the world are in favor of cryptocurrencies. Cryptocurrency enthusiasts attribute this flaw to the superiority of cryptocurrencies.
Unlike FIAT currencies which are backed and controlled by governments, cryptocurrencies have programmatically determined maximum supplies that can only be increased with community support.
Bitcoin is no different, only a maximum of 21 million BTC can be mined, with the number of minable BTC decreasing annually until the last BTC is mined in 2140.
Concept of Hyper deflationary
Almost every cryptocurrency has programmatically maximum supplies and a limited number of coins that can be created annually, reducing their inflation risk. Some tokens implement additional measures to protect their communities from inflation. These tokens are aptly called "hyper deflationary" tokens. The Shiba Inu is a prime example of this concept.
The deflationary aspects of the SHIB have made it a favorite among investors, who have seen its price increase by 60 million percentage points (60,000,000,000%) in a single year.
The past year has seen several deflationary token surges, and there is no reason to stop the trend now as world governments continue to print cash. Some other popular tokens with deflationary aspects are BNB, Cake, and Polygon.
Hyperdeflationary tokens reward dedicated community members by increasing the value of their holdings, protecting them from supply changes. As the demand increases for these tokens, the supply goes downwards, which increases the value of the token.
Since these tokens are gaining all the attention in the crypto market, the risk of scams also gets increased. If you are interested in generating high returns with hyper deflationary tokens and are looking for a hyper deflationary token project then panKUKU is a project you won't want to skip.
panKUKU is said to be a hyper-deflationary rewards token that works on the Binance smart chain and BEP20 protocol. Interestingly, this idea has been taken over by the popular pancake swap. It will soon expand into a more comprehensive project and product offerings than any other decentralized exchange (DEX) in the market. Its ecosystem includes KUKU tokens, KUKU swaps, farms, pools, lotteries, and a robust NFT marketplace. Check the official website and buy KUKU tokens now. https://www.pankuku.net/