Earlier today, Bitcoin (CRYPTO: BTC) flash crashed to $8,000 on Binance U.S., the American trading platform of the world's top crypto exchange Binance.
For the last few weeks, a huge number of Safemoon community members have been joining the Bitrise coin, but the move by the whales, after a Zoom call, solidifies what experts have been saying that Bitrise is the next 'Safemoon.'
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Although CZ is the leader of Binance, he is not in charge of running Binance.US. In fact, in April 2021, Binance.US announced that it hired Brian Brook as its CEO. Brian Brooks is a former Coinbase executive who also served as Donald Trump’s Acting Comptroller of the Currency.
But the reduction of the tokens in supply is what makes the Bitrise token unique from other tokens. The network uses the buyback process, which is automated using a smart contract. Bitrise is the first token to automate the buy back process. The platform charges 12% on every transaction, and 5% is sent to the buy back smart contract, which buys tokens from the pool and immediately burns them. That's how investors make money with the rising token value.
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3 reasons why DeFi users are bullish on Abracadabra, Magic Internet Money and SPELL
The Kroger Company website is displayed on a laptop in the background with a hand holding a bank card. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) (Rafael Henrique/SOPA Images/LightRocket / Getty Images)
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Creates and returns a Decipher object that uses the given algorithm, key and initialization vector (iv).
Additionally, 4JNET has its smart contract audited by a world-leading blockchain network security firm. CertiK is known for working with big platforms. Their portfolio includes providing audit services for Binance, Huobi, and OKEx, in addition to blockchain ecosystems like Ethereum, Terra, and Neo.
Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.
However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
At the lowest volume level, VIP 0, trading fees are 0.1% for both makers and takers. For those customers who generate enough volume to qualify for the top level, VIP 9, trading fees are 0.02% for makers and 0.04% for takers.
Safemoon Cash was stealth-launched by members of the BSC community in April 2021 after Safemoon reached a market cap of over four billion dollars. With its higher transaction tax, the early holders of Safemoon have profited most. In contrast, Safemoon Cash gives holders passive rewards through static reflections. By staking Safemoon Cash in a pool, it raises capital, ensuring liquidity. Safemoon Cash believes in superior tokenomics, through a 3% lower taxation, and the fact that ownership of the smart contract is fully renounced making the project more unique.