CoinMarketCap takes a deep dive into Thoreum (THOREUM), a token based on the hammer of a fictional character named ‘Thor’, with the aspiration to become SafeMoon 2.0.
Thoreum (THOREUM) claims to be the first liquidity mining token that offers static rewards to its holders. The creators behind Thoreum believe it to be a better alternative to SafeMoon - a community-driven DeFi protocol that features a deflationary utility token.
Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) — what are you waiting for?
How Does Thoreum (THOREUM) Work?
The THOREUM token is deflationary, which means that the supply keeps decreasing constantly (to ensure a limited availability) with every transaction. Static rewards are automatically distributed to THOREUM holders.
There is transfer tax (12%-14%) on each transaction from which 10% is used to acquire BNB on a recurring basis. If the transfer tax (total) goes beyond 50,000 THOREUM tokens, the contract sells it for BNB and adds it back to Thoreum's contract. The liquidity that will be locked in Thoreum’s contract will be used for the buyback and burn mechanism in THOR Thunder (explained below).
Unique Features Of Thoreum
THOR Thunder
As mentioned above, the process of using transfer tax to acquire BNB, selling it after it goes beyond a certain limit of THOREUM tokens to add in Thoreum’s contract, and locking the liquidity in Thoreum’s contract is not accessible to anyone and will be used for the buyback and burn mechanism. This whole process is called releasing the thunder and it helps with stabilizing the price of THOREUM over a long period.
THUNDER Boost
Thunder Boost refers to earning pools where THOREUM hodl-ers can stake their tokens and earn third-party tokens, such as BUSD and BNB.
MasterChef 2.0
MasterChef 2.0 can open multiple pools with similar tokens which provides THOREUM holders the legroom to move their fund to the APR pool of their choice. The advantage Masterchef technology provides is that if a certain pool's APR no longer attracts the token holders, a new pool can be opened with a similar token but higher APR.
Harvest Lockup
Preventing farming arbitrage bots is crucial during harvesting. The harvest lockup works on a ‘locking’ mechanism that limits the frequency of harvesting to avoid the repetitive process of harvesting and dumping. The timeframe of harvest lockup is set from 7 to 13 days.
Anti-Whale Mechanism
Whales can have a big impact on the price of any token/coin in the cryptocurrency world. To avoid the whale phenomenon, an anti-whale mechanism is in place that will automatically reject any transfer of over 2 million THOREUM tokens of the (current) total supply will be rejected.
Is Thoreum (THOREUM) The SafeMoon 2.0?
The official website of Thoreum (THOREUM) displays a full chart that highlights the differences between SafeMoon and Thoreum. Here are the key elements in which vary:
Burn Rate
When it comes to SafeMoon, for every transaction, 2.5% is burnt and sent to a dead address. The purpose behind this move is to reduce the total supply with every successful transaction and make the currency harder to accumulate over time.
Thoreum, however, doesn't follow the exact burn mechanism of SafeMoon, rather it deducts 10% of each successful transaction to buy BNB which is kept in a reserved Thoreum contract known as “THOR.” This reserve uses BNB for placing a buy order and sends Thoreum to the burn address. The creators of Thoreum also claim that their 10% strategy is the highest ratio of buyback & burn per transaction in the entire crypto world.
Static Rewards
SafeMoon imposes a 10% transfer tax on its holders which is distributed into two parts: 5% is redistributed to SafeMoon holders and the other 5% is split into half - 2.5% is converted into BNB and the other 2.5% is used in a liquidity pool.
Thoreum, on the other hand, claims to provide 16x higher rewards to its holders in comparison to SafeMoon. Thoreum does this by distributing the entire 4% of reflection to its holders, courtesy of the burn address not being incorporated as a qualified account to get reflection tokens from successful Thoreum transactions.
Tax-free Farming
On SafeMoon’s platform, 10% tax is charged whenever holders either harvest, deposit, or withdraw their tokens. Thoreum does not charge anything for farming tokens and provides a tax-free yield farming experience to its holders. This is due to the Thunder Farms feature that Thoreum provides where users can stake, deposit, or withdraw their tokens with a 0% fee.
Liquidity Mining
SafeMoon distributed 100% of its total supply during its presale. This gave an 'unfair' advantage to the early investors and creators of SafeMoon who multiplied their investment when the price of the token spiked.
On the other hand, Thoreum only launched with a 25% supply of which 2.4% was given to the developers and the rest to pre-sale buyers. The remaining 75% tokens provide a window of 90 to 150 days for new Thoreum buyers to get their tokens at a reasonable price using liquidity mining.
Thunder Boost
SafeMoon holders do not get their static rewards when the tokens are staked in the farm due to the unavailability of wallet addresses in which their coins have been staked.
Thoreum, claims to be the first token in the world to offer double-staking rewards through a mechanism called 'Thunder Boost'. When THOREUM tokens are locked in the Thunder Boost pools, holders earn two types of rewards.
- Third-party tokens. like BUSD and BNB
- Automated holding reflection reward tokens staking rewards.
True Burn & Buy Back
Unlike SafeMoon, Thoreum claims to feature a true burn & buyback strategy. SafeMoon supports the traditional burning concept where coins are sent to a burned address and are permanently removed from the circulating supply. However, this form of burning does not provide any value to the price of the coin/token.
Thoreum, however, spends 10% of each transaction, buys BNB, and stores it in 'THOR' - a Thoreum contract. Whenever someone sells 10,000 (this number changes with time) THOREUM tokens, the Thoreum contract. “THOR” comes into action and places a buy order of THOREUM with its store BNB. After the THOREUM is acquired, THOR sends it to the Burn Address. This whole process is termed as “Buy Back & Burn Thor's Thunder”. THOR removes coins from the THOREUM-BNB liquidity pool on an automated basis and then adds BNB in the pool which does two things:
- It increases the price of THOREUM
- It attracts more buyers to buy Thoreum.
WIN LAMBO Contest For Thoreum (THOREUM) HOLDERS
The official website of Thoreum is currently hosting a contest for THOREUM holders. To win a Lamborghini Huracan or $230,000 in equivalent currency, holders have to HODL their Thoreum. They cannot sell or transfer their Thoreum, or else they'll be disqualified from the contest. For detailed rules about the contest, click here.
Thoreum (THOREUM) Tokenomics
Thoreum (THOREUM) has a maximum supply of 5,000,000,000 tokens of which 3,000,000,000 tokens were burned during the launch phase. At present, the total supply stands at 1,909,864,852 tokens.
Thoreum's Roadmap Towards NFT Launch
Most of the tasks in Thoreum's roadmap have been completed which include the launching phase, listing Thoreum (THOREUM) on coin listing websites, achieving partnerships, launching products, like Thunder Farm, Thunder Alliance, creating basic vaults, and so on.
The next major step in its roadmap is to launch its first and second NFT games and farming platforms. The launch of NFT games may prove to be a big boost for the Thoreum (THOREUM) token as the NFT market has already surpassed $2.5 billion in total valuation.
Thoreum (THOREUM) Price
Thoreum (THOREUM) is now trading at $0.02155, as of Aug. 27, 2021. Its 24-hour trading volume on exchanges is around USD $507,257.98.
Thoreum (THOREUM) Price Prediction
As of Aug. 27, 2021, Thoreum (THOREUM) is trading at $0.02155. Whether Thoreum (THOREUM) will hit 1 cent in the near future depends on a lot of factors.
The journey to becoming SafeMoon 2.0 may prove to be successful for the platform. SafeMoon has already reached great heights with a total of 2,536,122 holders at this time. If the holders of SafeMoon start to see Thoreum as a better alternative, they may switch to this platform, which may cause the token’s price to hit the roof.
Another factor that may take THOREUM’s price to the moon is the launch of NFT games. As mentioned above, the NFT market has seen a massive boom in 2021, crossing the $2.5 billion mark with a massive potential to add more worth in this year. If Thoreum manages to launch the two scheduled NFT games, the price of the THOREUM token may easily cross the 1 cent mark and even beyond that.
Now, considering a lot of volatile factors, it is very difficult to say in which direction Thoreum (THOREUM) will tilt, which is why it is advisable to keep an eye on market indicators and technical opinions of cryptocurrency experts before investing in this token.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap. CoinMarketCap is not responsible for the success or authenticity of any project, we aim to act as a neutral informational resource for end-users.
