Solana Inspired Project Bitrise Coin Team Is Working on Parachain

New York, New York--(Newsfile Corp. - November 15, 2021) - Solana is a blockchain platform hailed for being one of the biggest Ethereum competitors. The Solana team is building a blockchain platform that will address Ethereum shortcomings. SOL is the Solana native coin, and at present, Solana ranks among the fastest-growing Ethereum competitors in the crypto market.

Bitrise

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Solana has accomplished so much since it was launched in early April of 2020. The Solana team has made huge strides in building a blockchain network. Already, Solana has more than 400 projects spanning from Web3, DeFi and NFTs running on its ecosystem.

Apart from the fast accomplishments, the Solana team has also ensured that Solana users are getting value. The Solana coin, SOL, has grown from dollar cents to over $230 at the time of writing.

Solana has inspired many projects, one of them being Bitrise coin, a DeFi protocol built on Binance Smart Chain. Like Solana, the Bitrise team is building one of the biggest projects in DeFi. Launched on 28^th July 2021, slightly one year after Solana's launch, Bitrise coin has made incredible accomplishments for a project that was started barely 4 months ago.

Like Solana, Bitrise's decentralised financial system is far ahead of similar projects that started together. Like Solana, the team is building this project at a great speed. Within a month of token launch, Bitrise launched Bitrise Audits and Techrate Audit. These are audit programs for smart contracts and blockchains like Solana.

In the next month, after releasing audit programs, the team was back with the much-awaited Bitrise dApp wallet. The multi-currency wallet can be used to transact hundreds of coins, including Solana coin, SOL. That's how much Bitrise has done so far in terms of products, and like Solana, the coin will be launching more products soon.

Solana has been rewarding members in a big way. Bitrise has been using the same Solana model. The team at Bitrise says that they are designing a platform that will reward members, just like Solana. The project tokenomics and staking are designed for success like Solana.

The Solana team has a mechanism that ensures Solana's value is maintained. The Bitrise team has a similar mechanism to Solana. The protocol uses a buyback contract, just as the Solana network, to control the reduction of tokens in the liquidity pool. The contract ensures pool tokens are gradually reduced to create demand. Like Solana, the Bitrise coin has been very stable in the market and has impressive growth.

Bitrise coin is also offering its token holders rewards for just holding coins. Solana networks reward Solana token holders. Bitrise network charges 12% for every token sale, and 4% is distributed to token holders.

Bitrise at present is taking its rewards even further in this month of November. Like Solana, the team will be launching the much-awaited staking process. Bitrise will be distributing a huge chunk of the revenue degenerated.

Bitrise, just like Solana, is in a push to release more products in its ecosystem. Bitrise is producing more products to increase network revenue collection. The centralised Bitrise exchange is coming, and this means more staking rewards.

The Solana ecosystem is already supporting hundreds of products. The Solana team has announced that more products will be joining the Solana ecosystem. There is a lot going on at Solana, and the team behind Solana blockchain has been updating users on a regular basis.

There is a lot to show that Solana will be one of the fastest-growing blockchain platforms. As a competitor to Ethereum, the Solana team is working to make the Solana blockchain live to user's expectations. Like Solana, the Bitrise team is doing everything to make Bitrise the biggest thing in DeFi.

Media Contact

John K
Email: contact@bitrisetoken.com
Website: https://www.bitrisetoken.com
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