Cryptocurrency investors worldwide are reeling under the throes of the bear market, which is an absolutely common phenomenon in this space, with the last one taking place two years ago when the pandemic buried the US economy. Nonetheless, the 2022 collapse could symbolize the first downturn for the younger and newer investors who began trading during the pandemic.
The bear market refers to a situation when supply is greater than demand, prices drop, and the investment portfolio turns red. The global crypto market has shrunk from $1.02 trillion in 2021 to $983.72 billion in 2022, and investors are losing hope. But, on the other side of the fence, this might be precisely the kind of market in which an innovative Polygon token like Bearcoin can appear as the knight in shining armor. Bearcoin, the first decentralized financial instrument, aims to enable investors to profit when bitcoin’s price reduces. When the price of bitcoin decreases, Bearcoin rises proportionally in value.
Bearcoin is going to launch on DxSale with 100% locked liquidity. But before we delve more into that detail, here’s some information on how Bearcoin functions.
What is Bearcoin (BTCBEAR)?
It is a token created on the Polygon network to employ the power of engineered deflation and inflation so that it moves opposite the price of bitcoin without adopting insecure centralized strategies like short selling.
With the increase in the price of bitcoin, Bearcoin tends to inflate proportionally on all the transactions taking place. This enables token holders to carry out “inflation mining” just by holding the token BTCBEAR (minimum 100).
On the other hand, at the time when the bitcoin’s price drops, a small part of each Bearcoin transaction goes through the burning process, deflating the currency and eventually resulting in the rise of the token price.
Additionally, the token has been audited by Certik, a formal verification technology ensuring security in systems software. It has also gone through KYC by Coinscope. Bearcoin is currently launching on DxSale. DxSale is a Platform as a service system (PaaS) that aims to ensure that users have an incredible experience while using a token. It places itself as a decentralized, token management PaaS.
Bearcoin on DxSale
Bearcoin has announced that it will launch soon on DxSale with some interesting tokenomics up its sleeve. To obtain an equitable distribution with an indefinite market cap, the initial distribution of the token will greatly prioritize 38% of free airdrops to token holders for the first year. Also, the initial token sale will be unofficially priced (which is 0.001 USDC = 1BTCBEAR) and move entirely toward funding the liquidity pool. The resulting LP tokens will be locked entirely for five years to maintain the pool’s stability. And finally, the remaining total supply will be reserved for start-up costs and team rewards.
The mechanics for airdrop are pretty simple. 21,868 BTCBEAR tokens will be allocated per day to randomly selected wallets holding a minimum of 100 BTCBEAR tokens. The Airdrops amounts will also be random. Therefore, a winning wallet has the chance to receive anything between 21,868 BTCBEAR and 100 BTCBEAR.
Besides airdrops, Bearcoin aims to provide another incentive in the form of inflation mining. When the price of bitcoin rises, the platform makes it eligible for each account holding at least 100 BTCBEAR to join the inflation pool and earn inflation rewards. Furthermore, ten addresses are selected at random from the inflation pool every time inflation is created. Then the account having the highest balance of BTCBEAR tokens gets the inflation from that transaction. Therefore, it is even possible for an account with a negligible number of tokens to obtain the inflation produced on a large transaction. Nevertheless, as it is the most significant transaction that gets inflation, token holders holding more BTCBEAR tokens are more likely to earn inflation rewards.
BTCBEAR signifies a new category of decentralized contrarian assets. Also, Bearcoin offers investors the option to either buy when bitcoin’s price falls, sell when it rises or hold even when bitcoin’s price is on the rise and mine during inflation.
During bear markets, even the most positive crypto investors are forced to sit idly. However, with the introduction of Bearcoin in the market, the market truly can witness the ideal token for those market conditions.
Bearcoin has onboarded Blockwiz, a premium crypto marketing solutions provider, to help with expansion in new markets.
Disclaimer: This is a paid post and should not be treated as news/advice.