Blockchain
Safemoon Competitor Bitrise Coin Now Available on Bitmart Exchange
New York, New York–(Newsfile Corp. – November 14, 2021) – Safemoon is a DeFi protocol built on Binance Smart Chain. The native token is Safemoon, and was launched on 9th May 2021. Safemoon team is developing a decentralised financial system, a platform that will be providing users with a range of products. Though Safemoon has been doing well in the market as a DeFi project, it faces competition from newer DeFi projects.
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Bitrise, a coin that is growing at a very fast rate and is quickly becoming a tough Safemoon competitor. The coin recently joined Bitmart Exchange. Like Safemoon, Bitrise is developing a DeFi protocol on the Binance Smart Chain. The Native token is $BRISE and was launched on 28th July 2021, almost five months after Safemoon. Bitrise platform is looking to decentralise the financial system just like Safemoon. But the team has delivered more than Safemoon so far.
Just like Safemoon, Bitrise coin is planning to provide users with a wide range of products on its platform. From the roadmap, Safemoon is developing a Safemoon mobile wallet, Safemoon exchange, Safemoonhard-wallet and a Safemoon V2 (Safemoon protocol contract). Bitrise is also developing a wallet, exchange, Audit tools, buyback protocol, and also blockchain.
What makes Bitrise different from Safemoon?
The Bitrise team has already launched Bitrise Audits and Techrate Audit just a month after the coin launch. They are free auditing programs for smart contacts and blockchains. Safemoon is not offering free audit tools. Bitrise dApp wallet was launched on 28th October, two months after the token launch. Safemoon has the mobile wallet out, but it took them a long time. Such fast accomplishments are making Bitrise coin a tough Safemoon competitor.
Bitrise is now in the process of developing its exchange. So far, not much has been said about the Safemoon exchange. Safemoon has developed only one product since March. Unlike Safemoon, Bitrise already has three products, and in November, the team is launching its revenue sharing staking program.
Bitrise has now taken its competition with Safemoon to the next level after joining Bitmart Exchange. This is one of the biggest exchanges, and with Bitrise joining, the coin will be more available to the Safemoon community. The coin recently reported receiving new members from Safemoon. With more Bitcoin available, more Safemoon members could join Bitrise.
With Bitrise joining Bitmart exchange, it will be competing with Safemoon. Both Safemoon and Bitrise are developing similar products. Being on an exchange means now traders can swap from Safemoon tokens to Bitrise tokens with ease.
After joining the Bitmart exchange, Bitrise will be taking competition a notch higher against Safemoon with the launch of the staking process. This will be a huge opportunity even for the Safemoon community members. With the staking launch, more Safemoon members will join.
Bitrise will be sharing 80% APY of all revenues generated from utility products on the ecosystem. This is an income that will even attract Safemoon users. Safemoon is yet to announce token staking on its ecosystem.
The value of BRISE is increasing at a higher rate than the Safemoon token because of the automated buyback and burning of liquidity pool tokens. Safemoon also automatically buys back but burns manually. On rewards, Safemoon is not sending reflections to token holder’s wallets automatically like Bitrise.
The Bitrise crypto team will be way ahead of the Safemoon team in delivering their roadmap. With Bitrise available on the Bitmart exchange, competition with Safemoon will become tougher. The exchange will make it possible for users to swap Safemoon to Bitrise, which will make it easy for Safemoon users to join Bitrise.
Media Contact
John K
Email: [email protected]
Website: https://www.bitrisetoken.com
Telegram: https://t.me/bitrisetoken
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103465
Blockchain
Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics
The post Phoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics appeared first on HIPTHER Alerts.
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
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