Keeping up with its hyper-deflationary system, Bitrise burned 549 trillion $BRISE worth $1 million in just 22 days of its launch. As a community-centric platform, Bitrise will also launch its all-comprehensive crypto exchange and a wallet that can integrate with any current from different blockchains. Built with features like spot trading and a trusted centralized system, the new exchange will help users transact in different cryptocurrencies. Bitrise is billed as a hyper-deflationary payment network platform rewarding the users holding BNB in their wallets. The automatic reward sequence will add convenience for the users. Bitrise token also has a buy-back and a regular burning system for price enhancement.
Investing for Better Rewards
Bitrise is an investment-led platform where people can earn by investing in the token. The static reward mechanism operates on the basis of $BRISE tokens owned by the users.
The users who hold $BRISE will get BNB tokens in return. The tokens are automatically transferred to the accounts, which removes the need to claim the same without fail.
Moreover, every transaction on the platform invites a 4% tax, which is redistributed to the token holders in BNB.
P2P Payment System with dApp
The payment system, which is still in its developmental stage, will act as a trustable and reliable peer-to-peer service for the users. It will work via the dApp built for the purpose and will have zero transactions fee along with local currency support.
Two-Factor Authorization makes the platform smarter and more secure, which is added with an intuitive interface. As it is a P2P system, there will be no intermediaries to complete the transactions.
The buyer and seller can interact with each other directly without having to pay any extra fee on the same.
Buyback For Higher Returns
Every transaction on the platform is subject to a 6% buyback tax. The collected amount is separately stored in a contract and used to purchase tokens from the liquidity pool when a user sells the token.
After purchasing, these tokens are immediately burned to promote a reduction in total supply and an increase in the price.
A Roadmap to Look Forward to
The Bitrise roadmap is another interesting aspect of the platform divided into six phases. With every phase, Bitrise is rooting to increase the number of holders and list their platform on different exchanges and listings.
The CERTIK audit is planned to be conducted in the Expansion phase along with running celebrity promotions. The Utility phase will bring forward the payment system along with media coverage and Bitrise DEX integration in the dApp wallet.
Bitrise has plans underway to build a centralized exchange platform (soon to be launched) and the Bitrise Smart Chain development to further enhance the utility of the token and the platform on the whole.
Bitrise is a comprehensive financial ecosystem where users can buy, sell, and hold tokens for better rewards. The Bitrise wallet and exchange, which is yet to be launched, will provide a higher extent of functionalities to the users. They can hold different cryptocurrencies in the same wallet originating from different blockchains. Among the different P2P transactions, the users can also lend money to each other through the platform.