GOMA Finance: Hyper-deflationary Community DeFi Ecosystem

What is GOMA Finance

Friends, imagine if there were a “financial amusement park” in the digital world, where not only could your digital assets (that is, cryptocurrencies) become more valuable, but you could also participate in all kinds of fun activities, such as “mining” like farming (the technical term is “liquidity mining” or “staking”), or buying and selling unique digital collectibles (NFTs). GOMA Finance (abbreviated as GOMA) aims to build such a platform.

Simply put, GOMA Finance is a decentralized finance (DeFi) ecosystem built on the blockchain, with the goal of providing optimized returns and new opportunities for holders. It places special emphasis on a “hyper-deflationary” mechanism, like an asset that keeps “slimming down,” hoping to increase the value of each unit by reducing the total supply.

This project mainly operates on the Binance Smart Chain (BSC), which you can think of as a “digital highway” that processes transactions quickly and at relatively low cost.

Project Vision and Value Proposition

The vision of GOMA Finance is to provide simple, low-risk, and rewarding DeFi tools and opportunities for both newcomers and veterans in cryptocurrency.

The core problem it hopes to solve is to provide an independent, decentralized platform in a world full of inflation and regulatory changes, allowing users to autonomously manage and grow their digital assets.

Compared to similar projects, GOMA Finance has several features:

• Dual-token model: It doesn’t just have one token, but two core tokens—GOMA and GOMAx, each playing different roles and jointly supporting the ecosystem.
• Hyper-deflationary mechanism: By continuously burning tokens to reduce the total supply in the market, it theoretically helps increase the scarcity and value of the tokens.
• Community-driven: The project emphasizes community participation and empowerment, allowing holders to participate in governance and share in the rewards.

Technical Features

The technical foundation of GOMA Finance mainly includes:

• Blockchain Platform

  GOMA Finance is primarily deployed on Binance Smart Chain (BSC), which means it leverages BSC’s fast transactions and low-cost advantages. Binance Smart Chain is a blockchain compatible with Ethereum, but typically has faster block confirmation times and lower transaction fees.

• Dual-token Ecosystem

  GOMA Finance adopts a unique dual-token model:

  • GOMA: The main token of the ecosystem, carrying governance (voting rights) and reward functions.
  • GOMAx: The auxiliary token, providing “tax-free” utility and allowing holders to receive BNB (Binance Coin) dividends, GOMA redistribution, and tax-free staking rewards. GOMAx is designed as a “reflection token,” incentivizing users to hold GOMA to drive demand and value for GOMA.

• Deflationary Mechanism

  The project has a burn mechanism, where a portion of tokens is burned with every GOMA transaction, aiming to reduce the total supply and thus increase the value of the remaining tokens. Specifically, for each GOMA transaction, 3% is distributed to existing holders, and another 3% is burned.

• Smart Contracts

  GOMA Finance’s smart contracts feature a variable tax rate, meaning the project team can adjust transaction fees after deployment. In addition, the project plans to launch the GOMAsterchef v3 staking contract for staking GOMA or GOMAx, enabling BNB dividends and tax-free staking rewards.

Tokenomics

The tokenomics of GOMA Finance revolve around its dual-token model:

• GOMA Token

  • Token Symbol: GOMA
  • Issuing Chain: Binance Smart Chain (BEP20 standard).
  • Total Supply and Issuance Mechanism: There is some inconsistency regarding the total supply of GOMA. Some sources indicate a maximum supply of 1 quadrillion (1P GOMA), while others show a current total supply of 250.64 trillion. This discrepancy may be related to token migration or ongoing burns.
  • Inflation/Burn: GOMA is a hyper-deflationary token, with 3% of each transaction burned to reduce the total supply.
  • Current and Future Circulation: There are also differing reports on GOMA’s circulating supply. Some data shows 90.179 trillion (about 9% of the total), while self-reported circulating supply is 147.66 trillion (about 14.76% of the total). Notably, platforms like Coinbase show the GOMA [OLD] version’s circulating supply as 0 and do not offer trading.
  • Token Utility: The GOMA token plays multiple roles in the ecosystem, including:
    • Governance: Holders have voting rights and can participate in community decisions.
    • Rewards: Serves as a reward mechanism within the ecosystem.
    • Yield Farming and Staking: Participate in liquidity mining and staking to earn returns.
    • NFT: Supports the creation and trading of NFTs.

• GOMAx Token

  • Token Symbol: GOMAx
  • Utility: GOMAx is the auxiliary token of the GOMA ecosystem, mainly providing tax-free utility. Holding GOMAx allows you to receive BNB dividends, GOMA redistribution, and tax-free staking rewards. It is designed to create demand and value for the GOMA token by incentivizing holding GOMA.

Team, Governance, and Funding

• Core Members and Team Features

  The GOMA Finance project was launched in March 2021, initially named GOMA Shiba Inu, later rebranded as GOMA Finance. The project was initiated by “a group of individuals from different industries,” or “a group of passionate individuals.” No specific names or detailed backgrounds of core team members are found in public information.

• Governance Mechanism

  The GOMA token is the governance token of the ecosystem, meaning GOMA holders have voting rights and can participate in the project’s decisions and development direction. This community-driven governance model aims to make the project more decentralized and reflect the will of holders.

• Treasury and Funding Runway

  No detailed disclosures about the size of the GOMA Finance project treasury, capital reserves, or operational funds (runway) are found in public information.

Roadmap

According to available information, GOMA Finance had a detailed roadmap in 2022, which included some important milestones and plans:

• Historical Key Events and Milestones

  • March 2021: Project launched under the name “GOMA Shiba Inu,” later rebranded as GOMA Finance.
  • 2021: Project officially launched.
  • Recent: Goma Finance has migrated from the old contract to a new contract.

• Future Key Plans and Milestones (Based on 2022 Roadmap)

  • Q1 (2022):
    • Main website redesign and rebuild.
    • GOMA.fi website redesign and rebuild.
    • GOMA Litepaper (abridged whitepaper) updated and migrated to Gitbook.
  • Q2 (2022):
    • Launch GOMAsterchef v3 staking contract, supporting GOMA or GOMAx staking.
    • Implement GOMAx dividend separation, allowing BNB dividends even when staked.
    • GOMA Finance token upgrade, including removing “Inu” from the name, increasing flexibility, resolving quantity issues, removing transfer and staking tax, and adding a whitelist for major centralized exchanges (CEX).
    • Conduct Certik audit of GOMA Finance contract.
    • Launch GOMA NFT Genesis Series.
  • Q3 (2022):
    • Initiate token upgrade.
    • Based on upgrade results, list GOMA on a centralized exchange (CEX) for the first time.
    • List GOMAx on a centralized exchange (CEX) for the second time.
    • Conduct GO MAN FT CMC airdrop.
    • 888 utility upgrade (prediction feature).
    • Establish liquidity partnerships with exchanges (DEX and CEX).
    • Implement GOMA holder governance.
  • Q3+ (Post-2022):
    • Based on results, conduct the second CEX listing for GOMAx.
    • Launch GOMA mobile app, including in-app ecosystem rewards, dividends, and redistribution data.
    • Launch GSWAP.

  It should be noted that these are plans from 2022. While some sources indicate GOMA Finance is still actively developing, its official website `gomatoken.com` has been marked as inactive, and some major crypto data platforms show insufficient price and trading volume data. Therefore, the actual execution and current progress of the above roadmap need further verification.

  Common Risk Reminders

  Investing in any cryptocurrency project comes with risks, and GOMA Finance is no exception. Before considering participation, be sure to understand the following potential risks:

  • Technical and Security Risks

    • Smart Contract Vulnerabilities: Although the project mentions plans for a Certik audit, smart contract code may have undiscovered vulnerabilities, which could lead to asset loss.
    • Variable Contract Tax Rate: The GOMA token’s smart contract has a variable tax rate, meaning the project team can adjust transaction fees after deployment. This flexibility may also bring uncertainty, so pay attention to the project team’s transparency and community communication.
    • Token Migration Risk: The project has undergone token contract migration, which is not uncommon in crypto, but if not handled properly, could lead to user asset loss or confusion.

  • Economic Risks

    • Data Inconsistency: There are inconsistencies in information sources regarding GOMA token’s total supply, circulating supply, and contract address. This may confuse investors and affect judgment of the project’s true value.
    • Liquidity and Price Volatility: Many major platforms show insufficient price and trading volume data for GOMA, and even platforms like Coinbase mark GOMA [OLD] as non-tradable with no price data. This suggests its liquidity may be low and prices may be subject to large fluctuations.
    • Uncertainty of the Hyper-deflationary Model: While hyper-deflation aims to increase value, market acceptance and actual effectiveness of this model remain to be seen. If trading volume is insufficient, the burn mechanism may not effectively support token value.

  • Compliance and Operational Risks

    • Unclear Official Information Channels: The official website `gomatoken.com` is marked as inactive. While there are other sites like `goma.fi` and Gitbook documentation, the dispersion and inconsistency of information may affect users’ access to the latest and most accurate project information.
    • Team Anonymity: Core team members’ names and backgrounds are not publicly disclosed, which is common in crypto but also increases operational uncertainty and risk.
    • Market Competition: The DeFi and NFT fields are highly competitive. Whether GOMA Finance can stand out among many projects and realize its vision remains a challenge.

  Please remember: The above information is for reference only and does not constitute any investment advice. The cryptocurrency market is highly volatile and risky. Be sure to conduct thorough independent research and make decisions based on your own risk tolerance.

  Verification Checklist

  When learning more about GOMA Finance, here are some key pieces of information you can verify yourself:

  • Block Explorer Contract Address

    Since GOMA Finance has undergone token migration, there are both new and old contract addresses. Be sure to confirm you are viewing the latest contract address. According to CoinMarketCap and CryptoCompare, the current GOMA token contract address is:

    0x25c54f9b99eE53eE7ab769D5897B886FE661bd2C
    (on Binance Smart Chain BSC). You can search this address on BscScan to view the number of token holders, transaction history, total supply, and more.

    The old contract address is:

    0xAb14952d2902343fde7c65D7dC095e5c8bE86920
    . CoinMarketCap clearly states not to purchase the old version of the token.

  • GitHub Activity

    GOMA Finance has an organization on GitHub called `GOMAFinance`, which contains multiple code repositories, such as `GOMAsterchef-staking.sol` (staking contract), `TokenContract` (token contract), `Audits` (audit-related), and `Litepaper-v1` (abridged whitepaper). Checking the update frequency of these repositories, code commit records, and community contributions can give you a preliminary idea of the project’s development activity.

  • Official Website and Documentation

    The old official website `gomatoken.com` is currently shown as inactive. It is recommended to visit the new website and documentation links listed on CoinMarketCap, such as `goma.fi` and `goma-finance.gitbook.io/docs`, to get the latest information and whitepaper content.

  • Audit Report

    The project roadmap mentioned plans for a Certik audit. Try to find the full audit report on Certik’s official website or in the documentation provided by the project to assess the security of the smart contracts.

  Project Summary

  GOMA Finance is a decentralized finance (DeFi) ecosystem built on Binance Smart Chain, which, through its dual-token model of GOMA and GOMAx, combined with hyper-deflationary mechanisms, staking, and NFT features, aims to provide users with value appreciation and participation opportunities.

  The project emphasizes community-driven development and providing users with low-risk, high-return DeFi tools. However, during research, we also found some points to note, such as inconsistencies in token supply and contract address information, as well as issues with the activity of the official website.

  Overall, GOMA Finance presents an attractive vision, but like any emerging blockchain project, it also comes with inherent risks and uncertainties. For those interested, I strongly recommend that you conduct your own in-depth research and due diligence according to the guidance in the above “Verification Checklist” before making any decisions. Remember, this is by no means investment advice. Cryptocurrency investment is highly risky—please proceed with caution.