Oct 5, 2021
BONFIRE Resurrection Grave Coming Oct. 5th
Zombies everywhere rejoice! A new GRAVE is upon us. Bonfire Token was one of the more successful community tokens on BSC. BONFIRE began as a community reflection token with a focus on social media and decentralized apps, with deflationary economics built into it from the start.
So What Happened?
Honestly, at the time of this writing, the drama is still unfolding. Like many v1 pancakeswap projects that have renounced contract ownership and locked liquidity, the original bonfire dev team stated the trouble of working on such a token and decided to introduce a “sister” token to their community because the present token did not allow for them to “grow the project”. But there is more.
Their original devs posted this sentiment in their telegram chat, much to the chagrin of their community. Technically, the locked LP and renounced ownership make BONFIRE impossible to “hard rug” in the classic sense of the word, but the actions of the devs who walked away from it clearly constitute a negligence one might associate with soft rugging. They dumped their bags of BONFIRE, leaving the community to hold the match. We can’t comment on their true intentions, and so therefore will remain just shy of calling it a rug pull (soft rugs are very difficult to call with confidence) but in this instance, we will note that actions speak louder than words. BONFIRE had briefly become a token with no development team, a handful of remaining mods trying to douse the fire, and lastly, shaken investor confidence, with many people rightly angry over the situation as it had developed.
But some good news, HODLers rejoice! There are a few active mods and a brave team member who have stated their intentions to resurrect the project and close this ugly chapter in bonfire history. This is a noble endeavor. RugZombie cannot comment on those current efforts, however we hope these are true intentions and that they result in a resurrection of this project. To the new team who has taken the reins, we wish you the best of luck cleaning up defi and restoring trust and value to your token holders.
What is RugZombie doing?
RugZombie will be listing a commemorative GRAVE for BONFIRE holders to earn an NFT to ease the pain of the recent events and close this chapter in their story. We know it does not recover the thousands lost by investors, but it may serve as a fun and cathartic memento to keep along the way, acknowledging this bitter moment in defi history and a solemn reminder of the need for safe, and healthy defi practices. Introducing a RARE BONFIRE GRAVE:
- Expected Release Date: Oct 5, 2021 ~2PM UTC
- Minimum Staking Amount: 5000 ZMBE
- Deposit $BONFIRE token(s) and $ZMBE into our BONFIRE grave for 30 days. The Grave will be open for 120 Days total, leaving token holders time to mint 3–4 of these NFTs.
- Our BONFIRE GRAVE has a deposit fee of ~5BUSD.
- At the end of the minting timer of 30 days, the BONFIRE will be extinguished and you will have your NFT, and you may exit the grave or continue staking for additional ZMBE rewards and another NFT to sell on a secondary market, or to save for our upcoming game.
About the Art
A special note for our newest Zombie Members from the BONFIRE community:
We are glad you are here. We try to make our use-case easy to understand, but if you need help you can always ask in our telegram community HERE.
How Does it Work?
Bonfire holders may deposit one bonfire Token (an effigy you might say?) and a small deposit fee (to pay our starving artists). Once you have done so, simply by staking a minimum amount of zombie (5000) your timer starts and you are on your way to earning this collectible! To answer a few questions;
Do the NFTs have any utility?
Glad you asked! All of our NFTs Will play a role in our upcoming collectible card game. For now, you can simply do them in our graveyard or sell them on secondary markets if you do choose.
What’s the catch?
There is none. You can get your NFT with us if you want, or you can choose to opt out. The choice is yours, and we would never want to you to join us without doing your due diligence!
I thought bonfire rugged? Why collaborate with them?
We have addressed this above; The nature of BONFIRE’s contacts mean that “hard rugging” is not possible. The old developers of this token simply abandoned the project; this was a terrible thing to do. However, the current leadership is planning to overtake the project and reimagine what it can be. Simply put; the ruggers have already left and those that remain are intent on restoring the project. Zombie On, The Undertakers
Originally published at https://www.publish0x.com.