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Altrucoin

The Altrucoin Token

Revamped and relaunched, the new Altrucoin token combines all the features from the original Altrucoin token, BankerDoge token, and our entire dApp ecosystem.

What is Altrucoin?

About Altrucoin

Altrucoin is the utility and governance token of the Altruism Protocol ecosystem built on the Binance Smart Chain.  

The Altrucoin token combines the established use case of trustless DeFi lending with modern tokenomic reflection.

The Altruism Protocol is a collection of decentralized apps that work together to support the Altrucoin token and its holders.

 

The Altrucoin Logo - A circle with a pixelated blue heart inside

How It Works & Tokenomics

Tokenomics Features

Deflationary Tokenomics

Altrucoin implements automatic token burning to ensure that the token remains deflationary.

Staked Rewards

Our smart contract sends all of the token reflections to the vault to encourage token locking and increase the vault APY.

Fee Stepdown Structure

The transaction fees will reduce from the current 10% to 5% as the marketcap increases.

Use Case

Ecosystem Tokenomics
All of our dApps support Altrucoin through externally boosted tokenomics:

Vault Rewards

Every partner vault adds rewards to the Altrucoin vault to increse its stakers rewards.

Defi-Lending

The Altrucoin tokken will be used as the primary collateral token of our defi-lending platform in the future.

Referral Rewards

Referrers and referrees of Altrucoin get a discounted rate when buying Altrucoin.

Global Initiative and Governance Voting

Vote on Altrucoin gloabl initiative and governance proposals with your vote weight based on how much Altrucoin you hold.

Treasury and Bonding System

Newly integrated system that will give the token a stable price floor making it more compatible for Defi-Lending.

Treasury and Bonding System Integration

DAO Token Features
The Altrucoin Token features a one-of-a-kind treasury and bonding system. The bonding system allows users to buy the token at a discounted rate, which adds funds to the token’s treasury. The treasury is used to fund upgrades voted on by the community, and for Altrucoin, the treasury will also be used to create a secure price floor. This increases stability and reliability, which will be more compatible with the token’s future as a DeFi-Lending collateral token. 
 
To understand what makes the Altrucoin treasury and bonding system one-of-a-kind, we have listed the major concerns with treasury and bonding systems from other projectss and our unique solutions below. 

Concern #1: Overminting

Many DAOs mint tokens to increase their staker's APY. However, the Altrucoin platform already has a fully self-sustaining staking system that earns users rewards without minting. This will allow us to incorporate the treasury and bonding system without the need for excessive minting.

Concern #3: Exploitable Discount System

We plan to auto-stake bonded tokens for a minimum of 30 days, which will prevent buyers from immediately buying and selling to exploit the discount mechanism.

Concern #2: Development Time

We plan to incorporate only the necessary code for the treasury and bonding system in the token contract now and develop the complementary pieces later. This will allow us to launch the token soon without having to redeploy in the future.

Concern #4: Improper Treasury Usage

We intend to use the treasury funds mainly for a stable price floor. However, for other treasury uses we will be methodical and refer to the community to ensure the best use of the funds.

Altrucoin will incorporate and utilize the treasury and bonding system into the Altrucoin token in a way that has never been done before in crypto, making both the system and the token completely unique. This system will only add onto some of the many use cases the token and platform have already developed and plan to develop in the future.

Altrucoin Token Merge

Project History

The new Altrucoin token is a merge of the team’s previous cryptocurrency tokens and services:
– the original $ALTRUCOIN
– $BANKER
– the BankerDoge decentralized application

The team has brought these elements together to make a new Altrucoin token that will be better than the sum of it parts.

To learn about the merge, why it happened, and the steps moving forward, visit our medium account. Previous holders can click here for instructions on the conversion to the new token.