Inflation was once seen as transitory as the United States economy moved from dealing with a pandemic to more normal operations. Unfortunately, rather than lift, inflation has not alleviated in the slightest as many citizens have seen a hike in the prices of food, toiletries and other necessities, with wages that have not risen to match. Many economists have since recognized that inflation may persist long into the new year.
Inflation itself is to be a product of the world bracing for an economic downturn, only to be met with a quick recovery led by increases in government spending. Businesses have since been forced to adapt quickly to meet this demand, which has had a ripple effect on their supply chain. With shortages of major supplies, many businesses have been forced to pass on some of these costs to the end-consumer, presenting a very real problem as people’s savings accounts have begun to dwindle in value.
For this reason, assets with a deflationary basis or those that reduce in supply over time become essential in preserving a person’s wealth. This is true since as supply decreases, the demand and price increase in proportion. GOMA Finance is one of these assets, which has continued to maintain a persistent diminishing supply. The token itself began with a maximum supply of 1000 trillion back in June 2021. Now, only five months later, 90% of GOMA tokens have been burned from circulation, leaving only 10% of the supply remaining. Therefore, users are given more opportunities to earn, whether through holding the assets, participating in farming or staking through GOMA’s DeFi platform.
A project team member shares that the need for GOMA token arose as “inflation is proving to be more than transitory,” making “deflationary assets essential.”
DeFi for the masses
The GOMA ecosystem continues to provide value by using the tools and mechanisms that help make DeFi (decentralized finance) and nonfungible tokens (NFTs) accessible to everyone. The GOMA token currently exists as a BEP20/ERC20 token on the Binance Smart Chain (BSC), which helps the team guarantee lower transaction costs and higher transaction throughput while also ensuring holders have an opportunity to earn.
While many continue to believe DeFi is complicated, risky and lacks a community focus, GOMA has made it their aim to reDeFine the concept of decentralized finance with their hyperinflationary token. The GOMA token was built with in-token burning and features for redistribution, where 3% of each transaction, including purchases and sales, of GOMA are redistributed to GOMA holders, a structure aimed to encourage long-term holding. For users, this means the more GOMA held, the more they will receive back and the greater the amount of passive income they become eligible for.
The token can also be used to actively stake other limited supply tokens, such as TORII, which has a fixed maximum supply of only 32,000. TORII is said to be comparable to Yearn Finance, a group of protocols run on the Ethereum (ETH) blockchain only for BSC and operating with a fixed supply of 36,666. For GOMA holders, this means they can simultaneously increase their GOMA and stake some of it to earn TORII.
A rapidly growing community
Since GOMA was established back in June 2021, the team has reported a Telegram community of tens of thousands of supportive team members and a 376,000% increase since the launch of the initial coin at $0.00000000029. To continue propelling these same levels of growth, the team is looking to strategic partnerships with TORII Finance and STEM.xyz, a platform that accelerates the creation of NFTs.
Among these growth opportunities, the platform encourages their community to look out for the release of the GOMA NFT marketplace, the addition of new strategic partnerships, the launch of the token on new exchanges and games on Agareum.
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