Ginga Finance Aims at Improving Privacy on Blockchain Transactions

Ginga Finance Aims at Improving Privacy on Blockchain Transactions

By Edward Moon | Analysis From Moon | 28 Dec 2021


Over the years, blockchains have become less and less anonymous, despite having a promising start in the early days of Bitcoin. Simply visit the blockchain explorer, insert the wallet address, and boom, you have a trail of transactions and payments made from the wallet address. While it has improved transparency, the public nature of blockchains is not ideal for everyone. As such, crypto users frequently use ‘mixers’ to break the link between the source and destination wallets to improve transactional privacy. 

Ginga Finance ($GIN), a decentralized crypto ecosystem, offers users a fast, cheap, and extremely private mixer, Ginga Mixer, allowing them to mix multiple coins including BNB and BUSD. Ginga Finance is a dog “meme project” aiming to make a change in the crypto-verse via its native $GIN token, which is backed by an actual utility. Unlike other meme projects, Ginga has developed innovative earning systems with instant rewards and real use cases including the BNB Ginga Mixer, BUSD reflection, and The Fastest Dog. 

As the world embraces cryptocurrencies, people are looking for ways to keep their digital assets away from the prying eyes of the public. Ginga Mixer offers a solution by masking transactions made between wallets making it difficult to detect the sender and receiver of the funds. According to the website, the mixer deducts a random platform fee of 1%- 1.5%  from each mixing transaction, and half the fees are then used to buy back and burn the $GIN token. 

The minimum amount of mixable tokens is set at 0.1 BNB (~$58 USD) and takes about 5 minutes to complete the transaction and mixing process. To start off mixing on Ginga Mixer, type out the address to forward the mixed BNB, and if available add the discount code and user secret. Set your delay time preferred with the default delay set at 5 minutes and maximum delay at 1440 minutes (or 1 day). Once you click “Mix my BNB” you’ll be prompted to deposit BNB after which the mixing happens. 

The platform also offers users a 24/7 customer service line with technical support on hand at all times to help in case of any mishaps. Users can also reach the development team directly on their Telegram channel: @GingaFinance. 

In the quest to gain mass adoption in the crypto market, Ginga Finance offers more than the mixer and its meme token, $GIN. Token holders on the platform can stake their $GIN tokens and provide liquidity in exchange for $BUSD tokens, which are claimed and earned on the platform. The contract distributes 6% of every buy/sell in BUSD automatically every hour for users holding more than 250,000 $GIN tokens. This is a simple way to start earning a passive income on the platform. 

The blockchain’s smart contract is audited by Solid Group, an established blockchain and crypto audit service, with the initial liquidity locked for two years. There will be a total of 1,000,000,000 $GIN tokens set to be redistributed in the following way: 6% will be reserved for $BUSD rewards, 1% automatic liquidity, and 1% in marketing and community rewards. The rest will be released to the public in a sale. 

Finally, Ginga Finance also includes the Fastest Dog rewards, which gives you a chance to earn BNB by playing rapid games every day. Once you connect your wallet holding $GIN tokens to Ginga Finance DApp, you become eligible to claim rewards. Every hour a button will appear on the screen that says, “Run”. The first person on the Ginga Finance network to press the button has the chance to earn 1% - 100% of the hourly BUSD rewards earned within the smart contract. 

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Edward Moon
Edward Moon

Crypto trader and analyst.


Analysis From Moon
Analysis From Moon

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