## What Is Banana Coin (BANANA)?

[Banana Coin](https://coinmarketcap.com/currencies/banana-coin/) (BANANA) is a charity-centric [BEP-20](https://coinmarketcap.com/alexandria/glossary/bep-20) token that runs on [Binance Smart Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain). Freshly launched in June 2021, BANANA aims to donate to colleges and sponsor higher education for students, and plans to make its first donation in Q3 2021.

Banana Coin’s vision is to help students overcome the issue of sky-high college education fees which too often leave them in heavy debts. The team behind the coin are supporters of the access to education for everyone, regardless of their background. Receiving education impacts not just a person’s life but also their family, community and their country.

Banana Coin accepts college sponsorship requests from anyone and selects winners based on voting systems on social media platforms. All an applicant has to do is submit a video of themselves answering questions such as why they deserve the funding. \
 \
In addition, Banana Coin also makes donations to the hospitality industry to tide through the negative impact from the pandemic, through their charity-oriented ‘The Hospitality Monkey Coin Project’. \



## Who Are the Founders of Banana Coin (BANANA)?

Only two members of Banana Coin have doxxed — the founder and co-founder. Banana Coin is founded by American real estate investor and serial entrepreneur Chung Ong, who is also a licensed FL Business Broker. Chung made his foray into the business world at the age of 19 and has since been in charge of more than 200 people across his businesses, which include F&B and retail companies. \
 \
Co-founding Banana Coin with Chung is YoYo, a former teacher in China who says she has experienced much inequality in the education sphere.

The remaining members of the Banana Coin team have chosen to remain anonymous and have stated that they are waiting for liquidity to grow before they dox themselves. These anonymous members have said on the coin’s website that they are committed to the coin for the long run.


## What Makes Banana Coin (BANANA) Unique?

Like other charity coins, Banana Coin gives its investors a stake in participating in socioeconomic and political change. What makes Banana Coin stand out is that it gives holders a high reward for their support to charities, with a redistribution rate of 5% that is automatic for every transaction made.

Banana Coin is said to be [rug-proof](https://coinmarketcap.com/alexandria/glossary/rug-pull) as the founders have renounced the contract, locking in the code on which the coin runs and thus creating an arena for equal opportunities for all. \
 \
The coin is also unique in the high amount of tax it channels back to the [liquidity pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool), which will stabilise prices as the coin’s trading volume rises.


## Related Pages

Take a deep dive into [smart contracts and DeFi](https://coinmarketcap.com/alexandria/article/a-dive-into-smart-contracts-and-defi).

Check out another blockchain-based charity token – [SafeEarth](https://coinmarketcap.com/alexandria/article/what-is-safe-earth). 

Learn more about [Binance Smart Chain](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain) in our guide.

What is web 3.0? [Click here](https://coinmarketcap.com/alexandria/article/what-is-web-3-0) and find out.

Visit CoinMarketCap [Alexandria](https://coinmarketcap.com/alexandria/) to learn everything you need to know about cryptocurrency and more.


## How Many Banana Coin (BANANA) Coins are There in Circulation?

BANANA has a total supply of a quadrillion coins. 

For all transactions, 50% of the supply will be burned. Each transaction is taxed at 15%, with the breakdown divided into three equal segments for the following: 5% to the charity wallet for donations and projects, 5% redistribution to holders and 5% to the liquidity pool.


## How Is the Banana Coin (BANANA) Network Secured?

BANANA has an auto-lock function which utilises a [multi-signature](https://coinmarketcap.com/alexandria/glossary/multi-signature-multi-sig) wallet where all donations must be verified by at least five of BANANA’s founders before gaining access to distribute the tax from each transaction of the fund.  \
 \
BANANA’s code has been audited by [Techrate](https://techrate.org/) and [Dessertswap](https://www.dessertswap.finance/). 

Can Banana Coin (BANANA) Coin Hit $0.0001?

Banana Coin’s price is relatively stable between $0.000000002 and $0.000000003 after launching in June 2021. To reach $0.0001 would imply an over 30,000-50,000 times price increase from the current average. While this is not entirely extraordinary in the crypto space, it would greatly depend on the project team reaching its objectives and the community backing it.


## Where Can You Buy Banana Coin (BANANA)?

BANANA cannot be bought directly for fiat money, but coins can be obtained by buying Binance Coin ([BNB](https://coinmarketcap.com/currencies/binance-coin/)), or other cryptocurrencies, on any of the fiat currency exchangers for cryptocurrency, and then transferring it to the exchange where the BANANA token is present. BANANA is currently listed on [PancakeSwap (V2)](https://coinmarketcap.com/exchanges/pancakeswap-v2/).

Cryptocurrency newbie? You can read more about how to enter the market and how to buy BTC, BANANA or any other token in CoinMarketCap education portal – [Alexandria](https://coinmarketcap.com/alexandria/).


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