# GLOOM Token 101

By [Gloom](https://paragraph.com/@gloomtoken) · 2024-03-05

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GLOOM is a meme coin, deployed on Base inspired by Vitalik's cast in the /gloom Farcaster channel!

**Old Contract Address:** 0x4Ff77748E723f0d7B161f90B4bc505187226ED0D

**New Contract Address:** 0xbb5D04c40Fa063FAF213c4E0B8086655164269Ef

LP Pairing on Pancake Swap & Uniswap V2

**TOKENONMICS**

**_Ticker:_** _$GLOOM_

**_Blockchain:_** _Base_

**_Max Supply:_** _1,000,000,000_

**_Circulating Supply:_** _1,000,000,000_

**_Listing Price:_** _$0.0000008226_

**_LP Pairing:_** _$GLOOM/ETH_

**_Initial Liquidity:_** _900,000,000 $GLOOM / 0.25 ($727.69)_

**_Airdrop:_** _(10%): Airdrop to $DEGEN & $POINTS holders_

**_Reflection Fee:_** _1% on transactions (buys, sells, transfers)_

What makes $GLOOM unique compared to other meme coins on Base is that it is a **Reflection Token**. This a type of cryptocurrency that implements a reflection mechanism as part of its tokenomics. The reflection mechanism is designed to reward holders of the token by automatically redistributing the transaction fees back to existing holders. This redistribution occurs proportionally based on the amount of tokens held by each individual.

**HERE'S HOW IT WORKS**

**Transaction Fee:** Whenever a transaction involving the reflection token takes place (buy, sell, or transfer), a percentage of the transaction value is charged as a fee, in the case of Gloom the fee is 1%.

**Redistribution:** Instead of burning or sending these fees to a specific address, the protocol redistributes them among all existing token holders. This is done automatically. The more tokens a holder possesses, the more they receive in reflections.

**Passive Rewards:** Holders benefit from this redistribution in the form of additional tokens credited directly to their wallets. It creates a passive reward stream for long-term holders.

The concept behind reflection tokens is to incentivize and reward token holders for their loyalty and encourage them to keep their tokens rather than engage in frequent buying and selling. It is a mechanism aimed at fostering community engagement, reducing volatility, and providing a form of passive rewards to those who believe in and support the project.

**WILL I SEE THE REFLECTIONS TRANSFER INTO MY WALLET?**

Yes you will see your balance increase, but no, you will not see transfers into your wallet on BaseScan. This is because reflection tokens set your balance as a formula, not a fixed integer value.

**DID YOU KNOW SHIBA INU IS A REFLECTION TOKEN?**

With a supply of 589.29 trillion and a marketcap of $23B, Shiba Inu is currently the most popular reflection token.

**WHAT IS THE FUTURE OF GLOOM?**

The goal is to create an Ecosystem of Gloom. This includes a pfp collection and a Farcaster client that will integrate $GLOOM as utility. More updates to come as they develop, until then - Stay GLOOMY!

**_\*Please note, as of March 11th Gloom has migrated to a new contract address which removes the reflections making Gloom a standard ERC20 token._**

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*Originally published on [Gloom](https://paragraph.com/@gloomtoken/gloom-token-101)*