BERN, SWITZERLAND, June 14, 2022 (GLOBE NEWSWIRE) -- It's been almost one year since Cake Monster ($MONSTA) launched on BNB Chain, and to celebrate this milestone, the project team is hosting a massive Live stream burn event, where over 69 million tokens (~1% of current supply) will be burned in a series of community activities and games.
The streaming event is being held on Sunday, June 19th, 2022 starting at 18:00 UTC via the official Cake Monster YouTube channel (CakeMonsterYT). The event will include music, games, giveaways, and more. It is open to the public so anyone can join in the fun with the community, and stand a chance to win some great prizes.
Leading up to the event, the team is releasing a special feature, called 'Burn Portal' where $MONSTA holders can burn a set amount of their tokens in exchange for entries into prize drawings. Over $20,000 USD in prizes are slated to be issued to participants and winners, and the goal is to burn an additional minimum amount of 10 million tokens.
Special NFT Auction
A special Monsta Party NFT mosaic consisting of all 10,000 individual NFTs arranged in numerical order and making up one giant Monsta image will be auctioned off to the highest bidder. This unique and one-of-a-kind NFT will come with some added bonuses and utility; such as monthly token reward drops, a high quality metal print shipped anywhere in the world, and lifetime access to the soon-to-be launched Monsta Arcade, as well as a number of other real-world prizes. All funds raised from the auction will be used to buy $MONSTA from the open market and burn it in addition to the 69 million token burn, plus the burn from the 'Burn Portal' event.
Countdown to Vault Opening
As Cake Monster enters the second half of its first deflationary cycle, the vault opening grows closer, and demand for this innovative project is expected to increase significantly as investors aim to further increase their designated share.
Since launch, the project has accumulated a staggering 280 000+ $CAKE which was locked into the PancakeSwap fixed syrup pool for the remainder of the cycle. Preliminary data estimate over 416,000 $CAKE by the end of the fixed term. With the $CAKE holdings quietly growing, the team set their sights on a new secondary asset, and $BNB was added to the vault. Despite the market downturn, the protocol has already accumulated over 160 $BNB in just over one month since its introduction.
All $CAKE and $BNB are distributed to token holders proportionally to their $MONSTA holdings at the end of each cycle.
About Cake Monster
Cake Monster (MONSTA) offers a multitude of great features aimed at building a flexible and multifaceted dividend yield and reward system for participants without compromising the sustainability or security of the ecosystem and combines this with smart design, creativity, and organic growth. With Monsta Party NFTs you level up your own algorithmically generated NFTs and compete with others for the hottest spots on the leaderboards to earn the sweetest buffet of rewards.
Link Page: https://ckmnstr.com/welcome
Brand: Cake Monster
Contact: Marketing Team
SOURCE: Cake Monster