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SweetPeach - 16.12.2021
·6 min read
A reward and collectors token educating about personal finance. ??
This blog post outlines the plan with the SweetPeach project and its connected $Peach token.
At the heart of the project are educational content and specific topics around personal finance. The scope of the content may be expanded upon sometime in the distant future. The team will create infographics and information around personal finance and post them on media outlets such as Instagram and Twitter. The community will be rewarded for engaging with the content with $Peach tokens. Later on, it may be possible to unlock premium content with the $Peach token and for content creators outside of the team to create content and be rewarded with $Peach.
Why did we pick personal finance as a starting point?
It’s quite simple. We, the founders, have for years followed ideas on how to educate younger, but also older generations about budgeting, investing, retirement planning, and saving. Using a token as a reward system presented itself as an opportunity to engage with a community in many ways. The past year has shown an unseen shift in the financial landscape. Central Banks expanding their balance sheets, government spending and debt skyrocketing, stock and real estate markets reaching daily all-time highs all while long-term inflation worries linger. Looking out for one’s own retirement and investment goals, such as owning a property, has become more important than ever. It’s difficult to say if our generation will benefit from the state pensions that we pay into in many countries.
Central banks are creating fiat and with that expanding their balance sheet at a worrying pace and the consequences could have unequivocal impacts on financial stability. 40% of all USD ever existed were printed in the 12 months. (Louise, 2021)
During the pandemic Central Bankers spoke about no to minimal anticipated inflation or if any inflation should occur it would be transitory. Last month, October 2021, saw the highest inflation rate in 31 years. Yes, supply chain issues are impacting inflation as well, yet it’s difficult to ignore monetary policy if central banks since the financial crisis in 2008.
Everyone’s portfolio is rising due to all-time highs on stock markets worldwide. As star investor Ray Dalio said, some people make the mistake of thinking that they are getting richer because they are seeing their assets go up in price without seeing how their buying power is being eroded. The ones most hurt are those who have their money in cash.” (Dalio, 2021) For many, his remarks may not be understandable and at SweetPeach we want to make it easy for people to learn and understand such comments.
Unfortunately, the school system hasn’t provided the necessary tools and education to navigate personal finance albeit it is more important than ever. Even more worrisome is a survey conducted by the Federal reserve in which almost 40% of American adults stated that they wouldn’t be able to cover a $400 emergency with cash, savings or a credit-card charge that they could quickly pay off.”(Youn, 2019)
The tragedy behind this survey is that you can’t blame any one of them. We were never taught how and why to invest, even on a basic level, how to submit an income tax return — you’re just expected to know, how to create a budgeting plan, how to think about financial goals and retirement. Maybe our parents passed along that saving is important, but mostly we were left alone to figure it out. In addition, some investment theories don’t really apply anymore, but are still out there and seen as truths.
At this point in the blog, we have to disclaim that we’re financial advisors, and nothing should be interpreted as financial advice. Always consult with a professional and don’t make investment decisions based on our content. We have degrees in business and finance and have been investing in stocks, bonds, real estate, crypto, and other alternative investments and managing investments for friends and family. We just want to share our knowledge in a rewarding and fun way.
What will the project entail?
Although we have many ideas in what direction the project could evolve to at some point in time, we’ll only disclose the bare minimum, as this is what we’ll get started on. The idea is very simple. We’ll post educational content about finance on social media outlets. We might ask questions about the content, create polls and questionnaires that the community can interact with. For interaction, you’ll get rewarded in $Peach. We believe learning about finance should be fun — for everyone. Nobody should get punishment for a poor grade, for getting something wrong, or having a different strategy or idea. We ourselves don’t claim to know everything and look forward to discussions within the community.
You will get rewarded for trying, being creative, and being eager to learn. For this reason, we created the $Peach token. The token has no inherent value other than being a reward token. In simple words, you’ll receive $Peach in return for your efforts. Let’s call it a reward and collectors token if you will.
Why does the project need a token?
As described above we believe it’s much more engaging if you get a reward for answering a question or poll, responding creatively to a question about investing, figuring out a math problem, or simply interacting with our content. The token doesn’t have a value and we don’t conduct any efforts to increase the value of $Peach. However, you can store it on any BNB supporting wallet, exchange it with friends and family, and if for some reason a market evolves you can trade it.
The SweetPeach $Peach token:
The token was created on the BINANCE Smart Chain (BSC) as a BEP20 token and has the following idiosyncrasies.
Deflationary
The token has a 1% transaction tax included that is currently being sent to a burner address. If there is an opportunity at some point in the future there might be a community vote to redirect the transaction tax to an accessible wallet and support charity or community projects around education. For the time being the $Peach token is deflationary.
Holders Reward:
Every transaction made from $Peach to another asset (PEACH/XYZ) or from one $Peach wallet to another (PEACH/PEACH) entails a transaction fee of 2% that will be distributed to every holder of the $Peach token.
Liquidity Pool
In addition, there is a 3% transaction tax going into a liquidity pool at PancakeSwap.Finance. This may also be up for a vote sometime in the future.
SweetPeach Contract Address: 0x9DdCC669A34F3B1abC1a6B148711BAf63f8c51E6
Link to Explorer:
https://bscscan.com/token/0x9DdCC669A34F3B1abC1a6B148711BAf63f8c51E6
The founders of SweetPeach kept 15% of the total supply while the remaining supply is currently kept in the contract address. It will be used to fund airdrops the community interacting with SweetPeach content and fund potential liquidity. We are aware that the project is very heavily centralized in supply and are striving to reduce the centralization of supply over the next months by rewarding engagement. There will not be any private token sale. To highlight once more, it’s a collector and reward token and should not be invested in to expect financial returns.
What to expect in the coming weeks?
This blog post is an introduction to the project and the token. In the future, we’ll use Medium not only for project outlooks, but also our take on financial markets, educational content, and summarizing monthly activity. In terms of airdrops and rewarding interaction, you’ll start seeing content on our social media channels. Comment, like, subscribe, drop your BNB address in the comments and we’ll start collecting them for future airdrops. Make sure you subscribe as it will increase your chances.
Where to find us?
https://twitter.com/SweetPeach_Coin
Instagram: https://www.instagram.com/sweetpeach_coin
Telegram: https://t.me/sweetpeachcoin
We look forward to building a community around $Peach that has some fun with our content, learns about personal finance, and have some fun with peach memes. Let’s grow our peach pits to peach trees full of peaches.
Louise, Nickie. “40% Of US Dollars in Existence Were Printed in the Last 12 Months: Is America Repeating the Same Mistake of 1921 Weimar Germany?: Tech News: Startups News.” Tech News | Startups News, 23 Oct. 2021, https://techstartups.com/2021/05/22/40-us-dollars-existence-printed-last-12-months-america-repeating-mistake-1921-weimar-germany/.
Dalio, Ray. “On Inflation and Wealth.” LinkedIn, LinkedIn, 11 Nov. 2021, https://www.linkedin.com/pulse/inflation-wealth-ray-dalio/.
Youn, Soo. “40% Of Americans Don’t Have $400 in the Bank for Emergency Expenses: Federal Reserve.” , ABC News Network, 24 May 2019, https://abcnews.go.com/US/10-americans-struggle-cover-400-emergency-expense-federal/story?id=63253846.
