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Create BEP20 Reward Tokens on Binance Smart Chain

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What

exactly is a reward token?

A reward

token incentivizes users by rewarding them for completing various tasks. The

most common example of this type of activity is HODL, in which users are

rewarded simply for holding tokens. It works by collecting a fee equal to a

percentage of the tokens transferred for each transaction.

The

collected tokens are then used to distribute rewards to existing holders. Your

token or another popular cryptocurrency, such as BUSD or DOGE, can be used to

receive the rewards.


What are

the different kinds of reward tokens?

Reflection

tokens are the most commonly created reward tokens. In this mechanism, the

collected tokens are distributed as a reward. Users receive more tokens over

time simply by HODLing the tokens. This is well-liked for a variety of reasons.

To begin with, it is extremely efficient because it employs a technique known

as reflection. Reflection, to keep things simple, does not require explicit

distribution of reward tokens; instead, it updates the user's balance based on

their current holdings, saving a massive amount of transaction gas.

Furthermore, because you are distributing your own tokens, you avoid the need

to sell tokens in order to acquire BUSD or other tokens, which can cause your

token's value to fall.


Another

type of reward token known as a "baby" token, such as babyDOGE or

babyBUSD, has recently gained popularity. These tokens payout in DOGE or BUSD

to their holders. While they require more gas and token exchanges to obtain

BUSD/DOGE, they are extremely appealing to investors.


How does

one go about making one?


Self-programming

is one method for creating such a token. Reflection and baby reward tokens are

both quite complicated. A significant investment is required to learn

blockchain programming, create, and test such tokens. Even after that, there is

a chance that bugs in your token will exist, allowing for potential hacker

exploits.


However,

there is now a much easier way, which makes use of the incredible no-code

platform Unicarve. Unicarve BEP20 token generator allows you to generate BEP20 tokens that support modern

tokenomics features like reflection or rewards in BUSD or any other token,

liquidity generation, marketing and charity wallets, and hyper-deflationary

buyback. It not only allows tokens to be created on Binance Smart Chain using

modern controls, but it is also extremely simple to use and one of the most

affordable token generation platforms available.


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