Panaroma Token: Redeployment and Exciting New Updates Unveiled!

The first update that we are excited to share is that our smart contract has been audited by Certik. Certik is a leading provider of blockchain security services and is trusted by many top blockchain projects in the industry. This audit ensures that our smart contract is secure and free from vulnerabilities that could be exploited by bad actors.

We take the security of our users’ funds very seriously, and this audit is just one of the many steps that we have taken to ensure that Panaroma Token is a safe and secure investment.

Updated Tokenomics

The second update that we have implemented is a revision to our tokenomics. Specifically, we have updated the maximum supply of Panaroma Token to 500 million, with a maximum burn limit of 500,000 tokens.

The decision to limit the maximum supply of Panaroma Token was made in order to prevent inflation and maintain the token’s value over time. This will also help to ensure that early investors in the project are rewarded for their support by preventing dilution of their holdings.

The maximum burn limit of 500,000 tokens will ensure that the supply of Panaroma Token is reduced over time, increasing its scarcity and potentially increasing its value. By implementing a controlled burn mechanism, we aim to create a deflationary token that rewards long-term investors and encourages hodling.

Unique Burning Mechanism

The most significant update to Panaroma Token is the implementation of a unique burning mechanism that we believe will set us apart from other utility tokens in the industry. This mechanism is designed to create a hyper deflationary token that benefits both long-term holders and users of the token.

The burning mechanism works by automatically burning a percentage of the total supply of Panaroma Token at certain supply caps. When the supply reaches these caps, a predetermined percentage of the tokens in circulation will be burned, effectively reducing the supply of the token.

This burning mechanism has been designed to be fair to all holders of Panaroma Token, as the percentage burned will be the same for all users. Additionally, the burn rate has been set at a controlled rate to ensure that users do not have to pay high burn fees at each supply cap trigger.

The halving mechanism for burning has been defined with below values –

500 Million To 250 Million – 1.00 %

250 Million To 125 Million- 0.80 %

125 Million To 62.50 Million- 0.50 %

62.50 Million To 500 Thousand- 0.20 %

By implementing a deflationary mechanism, we aim to increase the value of Panaroma Token over time, making it a potentially lucrative investment for early adopters and long-term holders.

Revised Token Holdings

Another update that we have implemented is a revision to the allocation of tokens to various parties. Specifically, we have revised the holdings of Founder Tokens, Investor Tokens, Advisor Tokens, Team Tokens, Private Sale Tokens, and Public Sale Tokens.

The revised holdings will ensure that all parties involved in the project are fairly compensated for their contributions, while also ensuring that the maximum supply of Panaroma Token is not exceeded.

Transparency through Public Function

In an effort to increase transparency and accountability, Panaroma Token has added a public function to view the address holders of Founder Tokens, Investor Tokens, Advisor Tokens, and Team Tokens. This allows token holders to verify the token allocation and ensure that there is no foul play or mismanagement of funds.

The public function can be accessed through the blockchain explorer and provides a complete view of the token allocation for each category. This ensures that the token holders have complete visibility into the token allocation and can hold the team accountable for the allocation and distribution of tokens.

Multi Chain Token

Certainly, we are proud to announce that the Panaroma Token is now a Multi Chain Token, as the Token smart contract has been deployed on 4 different chains – Ethereum, Polygon, Arbitrum, and Optimism. One of the benefits of deploying on multiple chains is that it increases the accessibility of the token to a broader audience. This means that anyone who wants to invest in Panaroma Token can now do so on their preferred blockchain, which can lead to greater adoption and higher trading volume.

Another significant benefit of having the same contract address across all blockchains is that it creates a cross-chain possibility for investors. This means that users can hold the same token on different chains and trade them interchangeably, without having to worry about converting them to another form of the token. This makes it easier for investors to diversify their portfolios across different chains, without the hassle of managing multiple assets.

Moreover, multi-chain deployment also enhances the security of the token. In the event that one chain suffers a security breach, the tokens on other chains remain unaffected, which mitigates the risk of loss for investors. Additionally, it increases the decentralization of the token as it is not tied to a single chain, reducing the potential for centralization-related issues.

In conclusion, deploying the Panaroma Token on multiple chains with the same contract address is a significant step towards creating a more inclusive, secure, and decentralized ecosystem. We believe that this will benefit the entire community by increasing accessibility, providing more investment opportunities, and enhancing the security and stability of the token. We are excited about the potential that this new feature brings to the community, and we look forward to seeing the positive impact it will have in the future.