What is TheBoringToken (TBT)?

March 02, 2022 10:57 AM PST | By Versha Jain

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What is TheBoringToken (TBT)? — Image source: Shutterstock.com

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Highlights

TheBoringToken (TBT) was listed on the price-tracking portal coinmarketcap.com on February 23, 2022.

The token gained 272.8% since its listing. It has a total supply of 1,000 trillion.

The project aims to reduce pollution by installing "Reverse Vending Machine" to tackle climate concerns.

TheBoringToken (TBT) project gained 272.8% since its listing on the price-tracking portal coinmarketcap.com on February 23, 2022. So, why is it gaining traction?

The TBT project claims to have solutions that can help reduce carbon emissions.

The token is also listed on coingecko.com, another price-tracking website.

TheBoringToken (TBT) has been gaining traction since these listings. The token rose 272.8% to US$0.00000000053 since the listing on coinmarketcap.com on February 23. The TBT token rose over 29.06% to US$0.00000000197 in the last 24 hours to 10:27 am ET on Wednesday.

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To help fight climate change, the project aims to install "Reverse Vending Machine", a recycling venture, and plant trees in collaboration with the TBT community in different cities around the world. The token holders will receive US$5.0 in rewards for planting each tree.

According to its whitepaper, TheBoringToken project is currently in its second phase, during which it will develop a mobile app, improve the community platform and social media channels, organize community contests and giveaways, plan token burn cycles, and seek partnership with social media platforms like YouTube, Twitter, and Tiktok.

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(Is the BoringToken (TBT) crypto a climate friendly project or just a scam?)

Data Source: coinmarketcap.com

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TheBoringToken app

TheBoringToken plans to launch an app in the next few days, according to its website.

TheBoringToken’s smart contract currently contains a variable tax rate function, allowing the contract owners to change the fees or transfer tokens.

The current fee is 10%, which includes 3% for StaticStaking, 2% for AutoBuyBack, 2% marketing, 2% liquidity pool, and 1% for GuardianOfNature wallet.

However, some observers have raised doubts over the little details available on the project.

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For instance, its white paper names four team members of the project but has no other details about them. Besides, although it claims to install the "reverse vending machines" in every city, the project's strategic planning would start only in the third phase.

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Price and performance:

The crypto market is up 1.14% to US1.94 trillion in the last 24 hours to 11:17 am ET.

TheBoringToken’s current market capitalization is not immediately known, but the fully diluted market cap is US$1,940,329. The token’s total supply is 1,000 trillion.

Details about the total holders were also not immediately available. The token is currently available for purchase on the PancakeSwap (V2) exchange.

Bottomline

The TBT token is ranked 3140th on Coinmarketcap.com. The cryptocurrency market is volatile and has high risks from scams and online hackings. Hence, investors should apply due diligence before investing in the cryptocurrency market.

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