Source : coinquora.com
Safemoon price has been plummeting over the last few weeks. A look at charts shows that the price of the coin has been falling by a huge percentage over the last month. During the same period, Bitrise, one of the mooning crypto coins in the market, has been experiencing bullish growth.
- Bitrise platform offers innovative tokenomics
- The platform gives attractive rewards to investors
- Automated token buyback and burning creating token scarcity
Like Safemoon, Bitrise is a Defi project that has proven to be a force to reckon with over the last few months. It was launched end of July, almost 5 months after the launch of Safemoon, and it has become its toughest competitor. In the last few weeks that Safemoon prices have been plummeting, thousands of fans have been joining Bitrise coin. But there is more that this coin is offering besides the being fast-growing token value. The protocol this team is developing, tokenomics, and attractive rewards are key factors making the coin super competitive and attractive to crypto investors.
The Bitrise is building one of the biggest DeFi products on the market. The team is developing a decentralised financial system that will be a game-changer in both DeFI industry and the traditional financial system. The development is ongoing, and the team has already launched Bitrise Audits, Techrate Audi, and dApp wallet, which will be the major products on the platform’s ecosystem.
The development of the cryptocurrency exchange is underway, and blockchain research has already started. This is information released by the team a few days ago. The innovative tokenomics is another appealing factor to the Safemoon community members and other crypto fans. To start with, Bitrise is a hyper-deflationary token.
The depreciating token supply creates token scarcity and automatically grows the token value. The team has developed a buyback contract that buys back tokens from the liquidity pool and burns them automatically. The automated buyback uses 5% of the tax collected on token transactions, which is 12%.
Crypto investors are also getting 4% of the tax collected as a reward for just holding BRISE tokens. The token holding reward is redistributed automatically as BNB into the token holders’ wallets every 60 minutes. This is a static income that is attracting Safemoon fans to join the coin.
The announced launch of the staking process is attracting Safemoon and other communities to join Bitrise coin. An 80% APY of the revenue generated by the products on the platform’s ecosystem will be shared among staked tokens. The three products already on the ecosystem, plus the exchange that’s coming up soon, will generate a lot of revenue, and this is attracting crypto investors. The upcoming Bitrise coin is staking is the biggest thing right now, but the coming exchange and blockchain will be a significant milestone for this DeFi project.
Follow Bitrise coin’s social media platforms for the latest updates.
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