Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
New York, New York–(Newsfile Corp. – November 12, 2021) – A relatively new coin called Bitrise is trending in the crypto market for positive reasons. The coin seems to be outperforming safemoon & overall great performance in the crypto market over the last few weeks and is one of the reasons people are talking about it. It has been compared to Safemoon before, but recent developments show that Bitrise coin might even be a more powerful crypto project than Safemoon. Bitrise is a DeFi protocol built on Binance Smart Chain. The native token, $BRISE, was launched on 28th July 2021 has been performing very well in the market and is not as old as safemoon.
To view an enhanced version of this graphic, please visit:
In the last few days, the demand for the token was reported to have shot up due to the upcoming staking program, which is said to be giving tough competition for safemoon. According to the Bitrise team, even users from other crypto communities such as Safemoon are joining the coin. As a DeFi project, Bitrise platform is competing with other projects, like Safemoon, that are also developing decentralised financial systems. Safemoon came earlier, but it is now being overtaken by newcomers, like Bitrise, in developing a DeFi protocol. In fact, Safemoon community is admitting that Bitrise is delivering faster than Safemoon. They are also admitting saying Bitrise has managed to accomplish things that took Safemoon a while.
Bitrise coin has done a better job in executing the buyback process than Safemoon. According to their whitepaper, Bitrise was the first cryptocurrency to implement an automated buyback and burning system, where safemoon doesn’t support auto-burn. Until now, Safemoon is still using manual processes to burn tokens that have been bought back from the liquidity pool.
Safemoon coin was launched on 3rd March 2021, which is around five months before Bitrise. From Safemoon’s website, the team promised to develop a wallet, contract (Safemoon V2), hardware wallet, and exchange for the platform. So far, Safemoon has only managed to develop a safemoon wallet. It can be downloaded on Google Play Store and Apple App Store. All the other products are still in the development stage.
Like Safemoon, Bitrise has also developed a native crypto wallet of Bitrise token. The Bitrise dApp wallet was launched on 28th October, just two months after the launch of the token. This was quickly done compared to the time Safemoon took to launch the wallet. The Bitrise team has also developed the Beta 2 version for the wallet.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103261