Whenever money supplies go astray, that is when there is too much of money supply in the economy, it leads to inflation. A little inflation surely is needed for growth, but beyond the required levels, it is disastrous as it evaluates the value of money that you are holding to zilch. Many countries in the past have faced the effects of inflation, but with the aid of relevant technology, these inflationary tendencies can be put to rest with the Super Blackhole and its HOLE tokens.
Credited to be the world’s first intergalactic hyper-deflationary token, this is said to have a burn rate of 20% The smart contract for it was started on 26th June last year and has been created on the Ethereum Blockchain. Now, the logic behind launching this massive effort was to see what would happen when deflationary tendencies are brought in full swing. It is a safe and transparent ERC-20 token as it has been developed on the Ethereum platform.
The experiment which began close to a year ago started with an initial supply of 2,500,000 HOLE tokens. Now, it does not create new tokens whatsoever but it destroys them and creates an artificial scarcity of the tokens by decreasing the supply with destruction. This is mainly done to fight inflationary tendencies.
The project also wanted a fair and equitable distribution of wealth. The blockchain operational structure was suffering already with a lot of inefficiencies and with this, it plans to counter them one by one. The Super Blackhole wants to take the HOLE tokens to the major exchanges of the world. This can be big news in the crypto markets. Although it has managed to do well for itself in the last year, there are yet many goals that need to be fulfilled.
The company also intends to keep the interest of the users hooked and keeps ideating several contests that help people be engaged with the project.
In a way it can be safely said that the project began as a social experiment to see how would the users and markets react when deflationary tendencies are rampant.