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Here’s Why Safemoon V2 Will Not Be Able to Compete with Bitrise Coin

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  • Bitrise platform comes with innovative tokenomics
  • The platform offers attractive rewards to investors
  • Fast accomplishment in building DeFi protocol

New York, New York–(Newsfile Corp. – December 2, 2021) – Bitrise, one of the fastest-growing crypto coins today, is now ranked as one of the toughest competition for Safemoon. Launched on July 28, 2021, the token has been performing very well even during the time that Safemoon is plummeting. Safemoon has just launched the widely anticipated Safemoon V2. As the team says, the upgrade was a comeback that would get Safemoon back to an upward trajectory after the coin experienced a price fall for weeks. But the question the crypto community is asking is whether the upgraded protocol (V2) will be able to compete with already fast-rising DeFi projects offering the same product.

Bitrise

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Bitrise is developing a protocol that will be the next big thing in DeFi. This is the same product that Safemoon is working on, and that’s why both projects are constantly compared. Bitrise coin launched five months after Safemoon and it has accomplished a lot.

Bitrise is currently one of the fastest-growing cryptocurrencies, and the launch of the Safemoon V2 was thought to rival this growth. It is yet to live up to the expectations. Unless the competitor starts growing at a higher rate than Bitrise, it will be impossible to compete with this coin.

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Unlike Safemoon V2, Bitrise has multiple products running in its ecosystem. Whereas Safemoon has the wallet, the competitor has Bitrise Audits, Techrate Audi, and dApp wallet. The team has also announced the launch of the exchange in Q1-2022. Safemoon V2 will not be able to compete with this coin at the current pace of development. The team will need to deliver its roadmap faster to be competitive.

The Bitrise team has announced the launch of the staking program, which is a big milestone for the project. The announcement has seen the size of the Bitrise community grow bigger as thousands of new members join every day to get a part of the staking rewards. Safemoon is yet to announce the plans to start the staking process.

Innovative and attractive tokenomics is another reason the crypto community says Safemoon cannot compete with Bitrise. The platform tokenomics are developed to reward investors, and that’s why the coin community is growing fast. The platform is taxing 12% on all transactions, and 4% is redistributed to token holders in BNBs. Unlike Safemoon V2 reflections, the rewards are sent automatically to the token holders’ wallets every 60 minutes.

The 5% of the tax goes to buying back tokens from the liquidity, and the bought-back tokens are burned automatically. These are tokenomics making Bitrise super competitive. The attractive rewards plus the staking rewards are making the coin even a tough competitor.

With Bitrise coin’s fast growth, fast accomplishments, and attractive tokenomics, the crypto community says it will be difficult for Safemoon V2 to compete with it.

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Follow Bitrise social media platforms for the latest updates.

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/106282

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Blockchain

Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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Blockchain

Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation

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The Manta Foundation has launched its $50 million EcoFund to build a robust ecosystem for leading blockchain projects, as per Manta Network. This initiative demonstrates the foundation’s commitment to funding opportunities and developer support for innovative blockchain ventures.

Funding and Support Opportunities
Starting June 15th, the one-year EcoFund will offer significant financial support through its Ecosystem Grant Program, which provides early-stage projects with grants of up to $50,000. This initial funding is crucial for bringing innovative ideas to life.

Additionally, the EcoFund dedicates $35 million for direct investments in promising projects on the Manta Network. These strategic investments aim to foster high-growth ventures that align with Manta Network’s long-term objectives, promoting a collaborative and mutually beneficial environment.

Diverse Project Focus
The Manta Foundation supports a broad range of projects across sectors such as DeFi, Gaming, NFTs, and more. These initiatives are chosen for their potential to drive consumer adoption and significantly enhance the Manta Network ecosystem.

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Applications for the EcoFund are accepted on a rolling basis, ensuring ongoing funding and support opportunities. The foundation prioritizes projects with robust business models and scalability, aiming to ensure the ecosystem’s financial health and sustainability.

Specialized Funding Categories

In addition to general grants, the EcoFund targets specific high-growth areas:

– AI/DePIN: Focused on using AI and Decentralized Physical Infrastructure Networks for sustainable solutions.
– Zero-Knowledge: Investments in zero-knowledge technology to boost privacy and security in the blockchain space.
– Memecoins: The Moon Mission Grant supports the development and growth of meme projects on Manta Pacific, fostering a vibrant memecoin culture.

Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, fostering a culture of innovation and collaboration within the Manta Network community.

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Source: blockchain.news

The post Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation appeared first on HIPTHER Alerts.

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