#### What is Gummy Bull Token? Gummy Bull Token, also known as GUMMY, is a digital asset that operates on the Binance Smart Chain (BSC). It serves as the primary token for the GummyBull platform, a lottery-based gaming platform that aims to provide a fun, social, and exclusive gaming experience. GUMMY is used as the main currency for participating in various games on the platform, including the Gummy Lottery and the Flavor Teams. The token has a total and maximum supply of 100 million [tokens](https://www.coinbase.com/learn/crypto-basics/what-is-a-token). A unique feature of GUMMY is that a 5% fee is applied on each transaction, which is divided among the Gummy Pot, a burn mechanism, and the team. #### How does Gummy Bull Token work? GUMMY operates on a unique transaction fee structure. For every transaction, a 5% fee is applied, which is then divided into three parts. 3% of the fee goes to the Gummy Pot, 1.5% is burnt, and the remaining 0.5% goes to the team. This mechanism aims to maintain the token's value and incentivize participation in the platform's games. The burning mechanism, which destroys 1.5% of the transacted amount, is designed to reduce the total supply of GUMMY over time, potentially increasing its value. The Gummy Pot, on the other hand, is a pool of funds that is likely used to finance the platform's games and rewards. #### What are the potential use cases for Gummy Bull Token? GUMMY's primary use case is as a currency for participating in the games offered on the GummyBull platform. Users can use GUMMY to enter the Gummy Lottery and join the Flavor Teams, among other games. The token's unique transaction fee structure, which includes a burning mechanism, also makes it a potential tool for value preservation and growth. As more tokens are burnt, the total supply of GUMMY decreases, which could lead to an increase in its value. Furthermore, the Gummy Pot, which receives a portion of each transaction fee, could be used to fund rewards and incentives for players, further enhancing the token's utility within the GummyBull ecosystem. #### What is the history of Gummy Bull Token? GUMMY was created as the native token for the GummyBull platform, a lottery-based gaming platform on the Binance Smart Chain. The platform aims to become the largest social gaming [protocol](https://www.coinbase.com/learn/crypto-basics/what-is-a-protocol) on the BSC. The GUMMY token was designed with a unique transaction fee structure to incentivize participation in the platform's games and potentially increase its value over time. The token has a total and maximum supply of 100 million tokens. Since its inception, GUMMY has been used as the main currency for participating in various games on the GummyBull platform, including the Gummy Lottery and the Flavor Teams.