Carma Coin is a decentralized blockchain-based charitable platform that seeks to give away supercars to its token owners. The Carma Coin has created a charitable cryptocurrency paired with a marketing strategy that aims to allow users to achieve record levels.
According to the whitepaper, being magical and charitable are the two core values of Carma Coin. The platform aims to create happiness and help the Carma Coin community through giveaways. The platform also believes in being sustainable and transparent. So, the Carma Coin takes decisions from a long-term perspective and believes in being open and honest with the community.
The CARMA token is a native token of Carma Coin. And the token is a BEP20 token that runs on the Binance Smart Chain (BSC). For the presale, the platform issued 40% of the total supply of tokens and burned 300 trillion tokens. At the same time, the allocation of another 300 trillion tokens went to the PancakeSwap liquidity pool (LP). PancakeSwap is a decentralized exchange (DEX) for BEP20 token swapping. Liquidity is the easy conversion of an asset into traditional currency without impacting the market price.
Moreover, the platform applies 10% of the transaction fees on every transaction. The platform keeps 5% of the tax for redistribution to the Carma Coin community. And the remaining 5% is kept locked for liquidity which is transferred to the PancakeSwap liquidity pool (LP).
Furthermore, the NFT automobile marketplace is a potential use case of the CARMA token. The Carma Coin platform seeks to create an NFT automobile marketplace where users can list their unique cars as NFTs for trading in CARMA tokens. In addition to that, the platform is also developing software tools to enable traditional car dealerships to accept cryptocurrency as full payment for any vehicle.
