Anons first Crypto. Post #16
I've been investigating cryptocurrency and the decentralized web since the start of May 2020. This blog is an avenue of documentation and expression of my experience.
Updates incoming from the /biz/coin team!
I was unsure if this project remained active so I dropped by the discord to find out what I could, I was pleased to see they're quietly working away.
I'll cover what is announced tomorrow and break down the white paper once released. Check out my previous post regarding /biz/coin and the team.
I've omitted the names as they're a group of anons after all, that being said they're a very friendly bunch and never discourage new people dropping by the discord
I wasn't worried from an exposure point of view, I haven't risked enough to worry. I simply like the idea of the coin and would be very happy to see it become an established part of /biz/, whist I enjoy the site and its content the community has drifted in the last year or so, perhaps a community engagement token is exactly what it needs especially if it promotes solid content and doesn't reward things that don't reflect the communities values.
So what can you do with the project at the moment?
Alt Season 2020's favorite buzzword Staking!
I had snagged some coins in the early days and decided to try out their staking portal at the start of the month with alt season being as fast and loose as it has been I seemingly forgot about /biz/coin for a while, very pleased to find a nice little stack of rewards this morning. I'll end up staking them again once its worth the gas transaction to do so!
The staking rewards are a product of the tokenomics. 1% of each transaction on the chain will be pooled into your stake rewards that can be collected at any time, only fee's your paying are the gas to stake/withdraw and the 1% of the overall transaction which is distributed to other stake holders.
Staking has certainly proved a hit for the team with almost 50% of the overall supply being locked away in the staking pool.
From what I can tell there is an unofficial pool on UniSwap you're able to stake at a 1:1 value ratio of ETH:BIZ - an opportunity for the gambling types out there however I haven't been game enough, we'll see what the team announces in their update.
I'll leave this post here, hopefully there's some cool news to report tomorrow!
Thanks for reading as always, you legends.