What is BurgerCities?

BurgerCities is a DeFi platform that has taken BNB Chain by storm back in 2020. This platform first started as a humble AMM called BurgerSwap. You can tell they launched during the heat of the DeFi summer because of the food name (SushiSwap, BakerySwap, PancakeSwap). BurgerSwap was too good to miss. I mean, who doesn't like burgers?

Users got a taste of BurgerSwap immediately and started trading on it. Being the first AMM built on BNB Chain, the protocol had well over 55K transactions during its first 24 hours. The protocol had no LP token, so there was no risk of migrating liquidity. The fees were 0.3%, which was competitive in the crowded BNB ecosystem.

The biggest factor in their early success was the hype around DeFi. New protocols were deployed left and right, to the point where it became difficult to keep up. As an AMM, BurgerSwap derived its value from aggregating liquidity from multiple sources. This feature gave them a first-mover advantage in a market saturated with scam protocols.

BurgerSwap was accused of being a scam project too. Maybe it was the name, the chain they deployed on, or the fact that the project didn't have a face. The BurgerSwap team later clarified that the protocol was initiated by a community of developers who are self-funded. Moreover, BurgerSwap was building its governance blocks to let the community take the reins. 

What can be better than a decentralized governance system that can't be controlled and doesn't require KYC? In the spirit of DeFi, all activity on the protocol is mediated by smart contracts, and every decision goes through the BURGER token holders first. Too bad that BNB Chain is not as decentralized as they say.

Speaking of smart contracts, the protocol had a good run until the worst thing happened. On May 28, 2021, BurgerSwap suffered a flash loan hack on the BNB Chain version. More than $7M was stolen from the platform, leaving users speechless. Hackers created their own Fake Coin and formed a new trading pair with BURGER. They then manipulated the Fake Coin supply and used it to cash out on several crypto assets. 

The BurgerSwap team took some time to think about a compensation plan. Their idea was to issue a new token (cBURGER) and airdrop it to the affected users. cBURGER holders would be compensated through the protocol fees. It was a slick idea, but the damage was already done.

In 2022, the DeFi hype came and went, so the team hopped on the new trend: NFTs and gaming. From that day on, BurgerSwap became BurgerCities!

How does BurgerCities work?

BurgerCities integrates DeFi and NFTs into a larger metaverse scene to produce a standardized Web3 metaverse. They use the term "MetaFi" to describe the menu of features. MetaFi is made of two terms: metadata (not metaverse) and finance. Binance first came up with this concept to describe crypto dapps running on the same standard as Web2 apps. By bringing these two terms together, Binance plans to unify blockchain standards into a single, cohesive standard across all digital realms.

Metadata refers to a set of data that gives information about other data. Think of the photos on your iPhone. They normally have metadata associated with them like resolution details, date and location where the picture was taken. The same goes for blockchain transactions, especially when we refer to NFTs, with each storing information or “traits”.

The finance aspect is already present via the established BurgerSwap. As such, BurgerCities started building a virtual environment by merging 2D and cyberpunk. 

BurgerSwap

The tech behind BurgerSwap is based on DEMAX, a pre-existing DEX on Binance. Aside from the general swapping mechanisms we see in DeFi, BurgerSwap has a characteristic that make use of its decentralized governance system.

BurgerSwap enables anyone to list their coin on the protocol. They must first pass the community vote and pay a listing fee. The listing fee is then added to a pool and shared among BURGER holders that participate in voting at least once per week.

BURGER token holders have a 7-day period to do their due diligence before voting on listing a new coin. This places a degree of responsibility on the shareholders, who have a direct incentive to make the right decisions. If we refer to the hack incident, victims have been compensated from the protocol fees, which ultimately affected the price of $BURGER.

BurgerCities Metaverse

BurgerCities is a game that relies on "gold mining" as the primary activity to upgrade your hero. The game mixes NFTs, such as your hero and the game items, with multiple economic models that make it akin to the infamous play2earn model. 

With a brand new minted NFT hero, users can complete daily activities, play versus other players (PvP), or versus the environment (PvE). The main plot is happening in the BurgerCities metaverse, where users can become land owners and customize their environment.  

The joy of earning rare items is to trade them for the right price. BurgerCities has a Black Market where users can quickly trade or swap in-game assets. The Black Market is powered by an aggregator protocol that swaps tokens at highly competitive rates. In other words, the Black market is basically BurgerSwap under a new name.

Inside the BurgerCities metaverse you may come across the Energy Plant Liquidity Pool, a peaceful place where you can earn passive income. If you are not contempt with the honest yields on the Energy Plant, then it's time to visit the Central Bank 2077, a mysterious building that promises greater return. The Central Bank is a single-coin dual-mining revenue aggregator. In plan terms, the Central Bank maximizes your staking rewards by matching your assets with high-yield pools. 

You can think of BurgerCities Metaverse as DeFi with added steps, or simply a place where you can have some fun and make a buck. Either way, new settlers will come on the land and establish businesses inside the BurgerCities metaverse. 

How to make money on BurgerCities?

DeFi, NFTs, metaverse...that sounds like a nothing burger if we add them all together. How about we demystify BurgerCities and see how you can make some sweet gain$ off it? Let's be honest, saying you're in it for the technology is like saying you work at Starbucks to improve your barista skills. 

BurgerCities can be a confusing experience at first, especially if you are new to DeFi. There are many ways to make money off it, if you know how to navigate their platform. On the good side, BurgerCities has done a good job simplifying the user interface. On the bad side, you are on BNB Chain, so you never know what the quality of listed projects will be.

BurgerSwap

Back to the roots, starting with the product that put BurgerCities on the map. On BurgerSwap you can do the following activities: swapping, liquidity provision, staking, bridging, and governance. All these mechanisms have the $BURGER token as the main vehicle for profits. 

One way is to stake $BURGER in governance and participate in voting to earn staking rewards. As a voter in the BurgerSwap protocol, you get to decide which coin will get listed next. In order to access your voting power, you will first need to lock up your $BURGER tokens:

1. Open the BurgerSwap app

2. Click on the "Governance" tab

3. After connecting your wallet you will have your $BURGER balance displayed in the Governance tab

4. Click on "Stake"

5. Once you have successfully staked BURGER tokens, you are able to participate in any running vote, by clicking the "You can vote" button

6. The vote window appears and you can cast your vote "Yes" or "No"

You can calculate your voting rewards by dividing by the total ballot. The percentage of your stake relative to the total ballot will be your percentage of the vote bonus you receive. While there is no minimum amount of BURGER required for voting there is a minimum lock period. You will receive the rewards regardless of your vote choice or if the vote gets passed or not. Each voter will receive the reward.

Another way of making money on BurgerSwap is to provide liquidity on the protocol. Besides the yields, you are also receiving $BURGER rewards and a percentage of the transaction fees on the specific pair. 

Be aware of the risks of providing liquidity!! Impermanent loss for liquidity providers can be particularly high on volatile assets or assets with very low liquidity!

To add liquidity on BurgerSwap, follow these steps:

1. Open the BurgerSwap app

2. Click on the "Trade" tab and then click on "Liquidity"

3. Click on the "Add Liquidity" button

4. Choose the token from the dropdown list if you want to add liquidity to an existing liquidity pool

5. Click on "Supply"

6. Profit

To activate trading, you need add two pairs of your token to the pool, respectively: token/BNB and token/BURGER. In case of insufficient liquidity you need to add more liquidity to the token/BURGER trading pair.

BurgerCities Application

Generally, each DEX has its separate pools, and the prices and fees vary. You have to manually look for better swap rates and low transaction fees across exchanges. BurgerCities’ Aggregation Protocol finds the most efficient way to ensure the best price by using all the different exchanges and liquidity protocols.

From this point on, you will have to venture in the BurgerCities metaverse to gain access to the rest of services. The process is interactive and fun, we are here to guide you step by step.

Let's go to the Black market where you can swap your digital assets at low fees. Speaking with Ullos to get started, Click on [Swap] and select any tokens you wish to exchange and the transaction can be processed in just a few seconds via the best route. Next you can choose the crypto you would like to swap. 

The Energy Plan works the same as the liquidity provision steps we have provided above. The only difference is that you have to get there by yourself. (Look for a building that writes Energy Plant ⚡️).

Price Prediction for BurgerCities — Can it hit $1000?

Buying and hodling BURGER — the native token of BurgerCities— is one way of potentially making money on BURGER.

The main utility for BURGER is governance and staking rewards. Its value in the long-term is influenced by the number of new users it attracts and the general sentiment regarding Web3 gaming. 

By looking at its current price, it’s natural to think about the chance of BURGER hitting $1000 per token. This can happen sooner, or way in the future, and is determined by a couple of ever changing factors.

Let’s examine the potential growth of the BURGER token by analyzing its tokenomics. BURGER’s current market cap sits comfortably at ${MARKET_CAP}. With {CIRCULATING_SUPPLY} BURGER tokens being in circulation today, that means a price of {PRICE} per BURGER.

How did we come to that calculation? It’s quite easy, the price of a BURGER token is equal to its current market cap divided by the number of tokens in circulation. Dividing ${MARKET_CAP} by {CIRCULATING_SUPPLY} gives us a result of {PRICE} for each BURGER coin. 

By changing the order in the simple formula above we can use it to calculate other things as well. This helps us a lot because we can deduce the market cap of BURGER at different token prices. Then, we can use the result to compare it to the current state of the network and see what would be required for BURGER to hit that price.

At a price of $1000 per token, that means the current market cap of BURGER would equal ${{CIRCULATING_SUPPLY} * 1000}. Remember that we arrived at this number by multiplying the amount of circulating tokens by $1000.

Now let’s shift our attention to the fully diluted market cap.

Some blockchains may have their tokenomics built in a way that only a small percentage of tokens are circulating at the beginning. This can be misleading because we don’t have the full picture and only take into account the current number of coins released in the market.

The fully diluted market cap represents the total value of a coin if all tokens were in circulation. BURGER’s whole supply of tokens is {MAX_SUPPLY - TOTAL_SUPPLY + CIRCULATING_SUPPLY} BURGER which means that no more coins above that number will ever be created.

These tokens are not created at the discretion of a specific entity. They are created automatically by the network to reward different actors that keep it secure.

How does this impact the price of BURGER? Taking into account the current price of a BURGER token, that would result in a fully diluted market cap of ${MAX_SUPPLY - TOTAL_SUPPLY + CIRCULATING_SUPPLY * PRICE}. BURGER coins that have been burned are not taken into consideration because they have been permanently removed from circulation.

Whether it seems gigantic or not, the number we came to above only takes into account the current price of a BURGER token. Doing the same calculation but with a price of $1000 gives us a result of ${{MAX_SUPPLY - TOTAL_SUPPLY + CIRCULATING_SUPPLY} * 1000} for the BURGER protocol fully diluted market cap.

These are all crucial details to know when calculating if BURGER can reach the price of $1 per token. If the diluted market capitalization is way too high, the token has little room left to grow. Blockchains in general have no cap on the value they can reach, whether that number seems possible it’s totally up to you.

The future of BURGER depends solely on its growth as a network used by tens and hundreds of millions of users. Whether BURGER will reach $100 by 2030 is a question of how much will the Web3 gaming sector grow.

If you’re looking to add some BURGER to your portfolio, the most trusted places to get some are Binance and Coinbase.