Banana Gun Token Relaunched on Uniswap After Glitch
On September 14, the Banana Gun team relaunched its token on Uniswap, a decentralized exchange. The relaunch comes after a glitch caused prices to dump 99%, prompting the team to compensate holders with an airdrop. The relaunched token will open at $6.2 with a market cap of $14.8 million and $2.1 million in liquidity locked on Uniswap v2 for two years.
Out of the new circulating supply of 2.39 million tokens, 2.22 million are earmarked for holders, while the team will hold 1.1% in reserve for outstanding airdrops. If these tokens are not needed for correctional airdrops, they will be burned to reduce the total supply.
The relaunch is the result of redemption efforts by Banana Gun’s team following smart contract issues in the earlier version. A bug in the smart contract allowed holders to sell without paying taxes, raising concerns about the team’s diligence and intentions.
Hot Take: Banana Gun Makes a Comeback on Uniswap
The relaunch of Banana Gun’s token on Uniswap marks a fresh start for the project after facing significant setbacks due to a glitch and smart contract issues. By compensating holders through an airdrop and implementing measures to prevent future problems, the team aims to regain trust and rebuild confidence in their project. The relaunch price and market cap demonstrate that there is still interest and potential for success in the Banana Gun community. With lessons learned from past mistakes, Banana Gun has an opportunity to prove its commitment to transparency and security in order to attract new investors and establish itself as a reliable player in the crypto space.
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