Bitrise Coin Built On Binance Smart Chain, Skyrockets 1000%
New York, New York--(Newsfile Corp. - November 14, 2021) - Bitrise is a DeFi protocol built on Binance Smart Chain. The coin recently skyrocketed 1000%, making it one of the fastest-growing Binance Smart Chain tokens in the market today. The crypto project has also launched incredible decentralised products over the last few weeks.
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Bitrise coin was launched on 28th July 2021 as a Binance based coin because it runs on the Binance blockchain. The team behind this Binance Smart Chain project is developing a decentralised financial system that is going to disrupt the traditional financial industry. The DeFi system will be running on the Binance Smart Chain.
For starters, Binance Smart Chain is the biggest development platform for dApp projects. Building dApp project on Binance Smart Chain legitimises the coin. Using Binance Smart Chain ensures higher liquidity of the BEP20 token on the Binance exchange. It will also be easier to have their coin listed on Binance when the dApp is built on Binance Smart Chain.
Bitrise coin has, over the last few weeks, experienced bullish growth. The team reported registering thousands of new members joining this Binance Smart Chain platform. Hitting a 1000% growth is a great milestone for a cryptocurrency project that is barely 4 months old. But there are a number of things this Binance Smart Chain platform has been doing right.
Providing appealing rewards to investors is one thing this Binance Smart Chain platform is doing correctly. Bitrise tokenomics is very innovative and appealing. The team burned 50% of the quadrillion tokens immediately after the Binance Smart Chain token was launched. This immediately created a demand for the Binance Smart Chain token.
The team has the remaining 50% Binance Smart Chain tokens in supply distributed as 7% future development, 5% for the development team, and 38% for the liquidity pool. The Binance Smart Chain tokens in the liquidity pool are what is available for investors.
Bitrise is a hyper-deflationary token, and thus, the pool is reducing as tokens are bought. The team has developed a buyback contract that buys back the Binance Smart Chain tokens from the pool and burns them immediately. The Binance Smart Chain platform will charge 12% for every token sale.
The 5% of the tax goes to the buyback contract to automatically buy and burn Binance Smart Chain tokens. This is how this Binance Smart Chain platform, Bitrise, is keeping the value for the coin high. The price of the Binance Smart Chain coin, $BRISE, has also been constant all through because of automation.
The automated buyback and burning of Bitrise tokens are making the project more trustworthy. According to the team, it is one of the reasons thousands of new members are joining the coin every day. Bitrise tokenomics reward token holders with Binance coin (BNB). Holders can sell or convert these Binance coins.
The Binance coins rewards have a lot to do with the recent 1000% growth of the Bitrise coin. According to the Bitrise team, token holders receives Binance coin automatically into their wallet every 60 minutes. This static income is attracting new members into joining this Binance Smart Chain platform.
The team recently announced the launch of the staking process. The Binance Smart Chain platform already has products that will generate revenues for staking.
The products already on this Binance Smart Chain network include Bitrise Audits, Techrate Audit, and Bitrise dApp wallet. The Bitrise team has also announced the development of Bitrise exchange and IBitrise Blockchain. These utility products are making this Binance Smart Chain more attractive.
As a Binance Smart Chain platform, Bitrise will continue making huge moves in the market. The team says they are aggressively competing with other DeFi protocols because they have a better DeFi project. The team says the Binance Smart Chain platform will be the biggest thing in DeFi.
Bitrise coin will continue to experience skyrocketing growth with the upcoming products launch. Soon the Binance Smart Chain platform is launching an exchange that will host Binance coin and hundred others, and push the coin value up.
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