New York, New York–(Newsfile Corp. – November 12, 2021) – Bitrise is a DeFi protocol built on Binance Smart Chain that is launching incredible decentralised products. The token was launched on 28th July, 2021. The platform is currently competing with big DeFi projects like Safemoon. From the Bitrise team, thousands of investors are buying Bitrise tokens, including investors from other crypto projects such as Safemoon.
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Bitrise crypto coin is developing a decentralized financial platform. Like Safemoon, Bitrise is leveraging blockchain technology to develop a DeFi protocol that will disrupt the current centralised financial systems. The system will enable more people to access finances and enjoy financial freedom and choices.
There are many DeFi projects in the market today, including Safemoon, but using different approaches to decentralise the financial system. Just like Safemoon, Bitrise coin has taken the investor-oriented approach.
According to the Bitrise team, they are designing a DeFi protocol that rewards investors. So far, investors are happy with what the team is offering. A former Safemoon investor on Bitrise official Twitter account admitted that Bitrise coin is better than Safemoon.
Bitrise coin tokenomics are a little different from Safemoon. But just like Safemoon, it is a hyper-deflationary token. This means Bitrise tokens are in the liquidity pool, just like Safemoon, will be reducing with time.
The major difference Bittise crypto coin has over Safemoon, according to the whitepaper, is the token buyback and burning process. Bitrise is the first DeFi protocol to develop a contract that buys back and burns tokens automatically. Safemoon burns manually. This means Bitrise will have a more trustworthy liquidity regulation than Safemoon.
Bitrise will be creating demand for its token more efficiently than Safemoon. This includes providing steadier price adjustments than Safemoon due to the automation advantage. With manual token burning, Safemoon’s price will be a little inconsistent as adjustments take longer.
Bitrise tokenonics also rewards investors for just holding tokens. From the 12% tax collected in sell transactions, 4% goes to token holders as rewards for holding tokens. The rewards are paid in BNB every 60 minutes, and the distribution is automated. Safemoon rewards distribution is a little different.
Safemoon reflections are 5% of the 10% and are distributed to all token holders. But the distribution of Safemoon reflection is not automated. Safemoon investors are required to place requests for them to be released. This makes Safemoon a little bit complicated, unlike Bitrise. With 50 billion Bitrise tokens, the former Safemoon investor will get hefty rewards.
As a DeFi project, the team is developing multiple products to generate revenues for the investors. Safemoon is also developing products for its network users. However, Safemoon products are fewer and might take longer to develop and launch.
Bitrise coin has developed and launched Bitrise Audits and Techrate Audit. They are free audit programs for smart contracts and blockchains. The Bitrise dApp wallet is also developed and running. Safemoon has only developed and launched the wallet. This shows the revenue generated on Safemoon is smaller than Bitrise. This means every token staked on Safemoon protocol.
Bitrise is now developing the exchange and blockchain platforms, which Safemoon is yet to develop. Bitrise platform also provides staking. Safemoon is yet to launch the staking process on its platform. Bitrise has its revenue sharing staking program ready for launching, and little is said about such a product at Safemoon. Staking will be a powerful investment opportunity that will make Bitrise better than Safemoon.
Bitrise’s competition is Safemoon and other DeFi projects offering almost the same decentralised systems. But the team says they have a better DeFi protocol to compete with Safemoon.
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