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TRIBUTE: The Community Controlled DeFi Platform with Deflationary Mechanism

Team Bitcoin Daily

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TRIBUTE (TRBT) is a deflationary DeFi platform that uses game theory analysis and social influence to create an exciting and unique economic landscape. 

The TRBT ERC20 token follows a liquidity distribution mechanism called “Proof of Decentralized Liquidity” (PoDL), with about $1M in liquidity currently locked in the protocol. 

This model allows users to have a direct share in stabilizing the TRBT price, which is currently holding steady at $9.65 on CoinMarketCap

The platform saw a $3M trading volume on its first day, with 640 unique wallets holding TRBT in 4 days. In the past few days, about 4% of the total token supply was burned. This high burn rate creates an incentive to hold the token by bolstering the circulation’s token demand. 

The Tribute ecosystem already has three dApps at its disposal; conTRIBUTE, ENFORCED TRIBUTE, and TRIBUTE TO LIQUIDITY. These dApps give the project a rare aspect of instant utility in the DeFi space.

Moreover, these dApps create a separate incentive to interact with the project’s native token and maintain a steady flow of TRBT moving through the ecosystem.

Why is TRIBUTE Unique in DeFi?

Tribute features fully decentralized elements that delegate full ownership and control to its users, allowing them to choose which dApps integrate into the platform. The team has no dev fees on any of the dApps. 

The project has started building upon the starting suite of dApps with the long-term vision of outlining longer-term dApp incorporating governance. 

The first dApp, conTRIBUTE, is well funded and has an established token distribution model which rewards TRIBUTE token holders and staked users via a “synergistic method.” 50% is sent to conTRIBUTE as dividends to the stakers directly.

The dApp’s solid distribution model guarantees that 5% of all buys and 15% of all sells into conTRIBUTE are disbursed to players as dividends. Each user gets rewards that are proportionate to their percentage share, with 

In the past few days, 11% of the total token supply was staked in conTRIBUTE. Holders utilizing the dApp earned $51,000 dividend rewards, with $730,000 worth of tokens now remaining.

Moreover, the conTRIBUTE PoDL concept offers TRBT users access to initial liquidity after 100 days via a Decentralized Autonomous Organization (DAO). 

 

TRIBUTE’s Deflationary Mechanism Bolsters Token Demand

The project’s ENFORCED TRIBUTE dApp uses a solid distribution model with an initial supply of a scarce 75,000 tokens. 

Every 12 hours, any user can trigger a smart contract to transfer 10,000 TRBT tokens, which go into a secondary contract within the dApp. 

The top 50 holders receive 5% of the total number of tokens transferred, while 500 TRBT are burned instantly, as per the project’s whitepaper

This process repeats itself after 12 hours, where the same contract transfers 10,000 tokens from the secondary contract to the initial one and burns 500 TRBT while triggering a reward drop of 5%. 

In this way, the dApp creates an increased sense of scarcity in an already scarce economy, bolstering the circulation’s token demand. The reward and burn process creates a self-cycling and hyper deflationary ecosystem. 

The TRIBUTE Lottery Rewards System

The final dApp at launch, TRIBUTE TO LIQUIDITY, further implements the PoDL mechanism by granting the community members full control of the DeFi protocol.

It does this via a lottery system in which users can purchase tickets using TRBT to enter into a daily raffle. The raffle utilizes a secure and trust-less algorithm to pick one lucky winner. 

50% of all TRBT entered into the lottery is burned, creating a hyper deflationary mechanism into the platform’s smart contract. 

Rewards issued for the lottery are a percentage of the total number of tokens controlling the TRBT/ETH liquidity pair on Uniswap

The DeFi Platform for Community Development

The TRBT project promises to solve many of the problems facing DeFi by building an ecosystem that focuses on community-driven growth. The Tribute team announced different partnerships already, with more collaborations expected soon. 

The future now looks bright for this project that seeks to establish itself as one of the pioneering protocols exploring the DeFi/Deflationary landscapes.

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Press Release

EXOLO’s Triple Success: Revolutionizing Crypto at Key 2024 Events

Crypto Chain Wire

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In a year marked by extraordinary advancements in the cryptocurrency sector, EXOLO has solidified its position as a frontrunner in innovation, security, and transparency. Their participation in three prestigious events – TOKEN2049 Dubai, Hong Kong WOW Summit, and Crypto Expo Dubai 2024 – highlights their commitment to transforming the digital finance landscape and showcasing pioneering security measures and transparent operations.

TOKEN2049: Pioneering Security in the Crypto World

TOKEN2049 was a significant milestone for EXOLO, held from April 18-19, 2024. The event attracted over 10,000 attendees from more than 4,000 companies worldwide. EXOLO’s booth showcased cutting-edge security technology through an engaging mind game, highlighting their 7-layer security system. EXOLO’s speaker’s address on the aftermath of the FTX collapse and the importance of “proof of reserves” resonated with the audience, emphasizing their dedication to transparency and security.

The event’s after-exhibition party, sponsored by EXOLO, was a perfect opportunity to deepen connections with industry leaders, including influential venture capitalists and Key Opinion Leaders (KOLs). EXOLO’s active participation underscored its role as a pioneer in integrating advanced technology with core financial principles.

Hong Kong WOW Summit: A Milestone in Web3 Revolution

Sponsoring and participating in the 2024 Hong Kong WOW Summit was a key milestone in EXOLO’s Web3 revolution journey. The summit provided EXOLO with an unmatched opportunity to engage directly with industry leaders, forge valuable connections, and showcase innovations. Their exhibition booth, a vibrant hub of engagement and excitement, drew attendees into a unique experience, reflecting the innovative spirit at the heart of EXOLO.

EXOLO’s speaker’s presentation at the summit delved into the evolving economy, institutional adoption of Bitcoin, and the implications of major crypto entities’ collapses, providing profound insights into the shifts and trends shaping the financial future. His interview highlighted EXOLO’s mission to innovate safely and transparently, celebrating the growing acceptance of crypto by once-skeptical institutions.

Crypto Expo 2024: A Showcase of Transparency

Crypto Expo 2024 brought together the brightest minds in the crypto universe. EXOLO’s booth, designed with a transparency theme, stood out for its cutting-edge security features and engaging interactions. Visitors praised EXOLO’s 7-layer security system and the proof of reserve consensus mechanism, which set them apart from other exchanges. The booth’s design and technology received huge compliments, reinforcing EXOLO’s reputation for prioritizing security and transparency.

A Unified Vision for the Future

EXOLO’s consistent performance across these events highlights their unwavering dedication to security, innovation, and transparency. By implementing a robust 7-layer security system and adopting the proof of reserve consensus mechanism, EXOLO ensures a secure and transparent platform for all users. These features, combined with their regulatory compliance, make EXOLO one of the most trusted crypto exchanges in the market.

About EXOLO

EXOLO is at the forefront of the cryptocurrency exchange industry, offering one of the most secure trading platforms worldwide. With advanced security measures and a strong emphasis on transparency, EXOLO is dedicated to providing a safe and robust platform for digital currency transactions. For more information, visit EXOLO’s website.

By excelling at these landmark events, EXOLO has solidified its reputation as a leader in the cryptocurrency exchange space. Their commitment to innovation, security, and transparency continues to drive them forward, ensuring they remain at the cutting edge of the digital finance revolution.

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Press Release

3000+ Attendees Hail Crypto Expo Dubai 2024 as a Resounding Success.

Crypto Chain Wire

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The highly anticipated Crypto Expo Dubai 2024 commenced with remarkable enthusiasm and energy, marking a successful event with more then 3000+ Attendees, 50+ Speaker, 50+ Sponsors. Industry leaders, innovators, and enthusiasts gathered at the event to explore the future of cryptocurrency and blockchain technology.

The Expo featured an array of influential speakers who shared their insights and visions, captivating the audience with their knowledge and experience. Notable speakers included:

  • Ahmed Elmetwally, CEO & General Director, Private Office of Sheikh Mohamed Bin Ahmed Bin Hamadan Al Nahyan, who delivered an inspiring keynote on the transformative power of blockchain in the UAE’s financial landscape.
  • Peter Peng, Founder & CEO of GPT Protocol, provided an engaging talk on the advancements in AI and blockchain integration.
  • Pekka Kelkka, Founder, web3 advisor, and educator at Papa Blockchain talked about in a panel Pushing the boundaries of Web 3 innovation – How to build a successful WEB3 brand – Digital Identity in Web 3.0: Privacy, Security, and Self-Sovereignty
  • Belal Jassoma, Director of Ecosystems at DMCC, discussed the pivotal role of Dubai in fostering a thriving crypto ecosystem.
  • Sasha Ivanov, Founder of Units Network, shared his vision for Re-staking and Endgame for Blockchain Scalability: extended consensus and proof of re-stake.
  • Arthur Azizov, CEO of B2Broker, highlighted the Revolutionizing Finance: The Power of Digital Assets in Brokerage
  • Serena Sebastiani, Director of Financial Services Advisory and Virtual Assets Consulting Lead at PwC Middle East provided expert insights discussed in a Panel about Blockchain Shaping the Future of Decentralized Technologies and Beyond.
  • Anton Patrynika, Founder of Haust, talked about DeFi Dilemmas: Navigating the Wild West of Decentralized Finance.
  • Myriam Ben Sayeh, Director of Product Management at Mastercard, discussed in a Panel about Blockchain Shaping the Future of Decentralized Technologies and Beyond.
  • Paul “The Profit” Dawalibi, CEO of Holodeck Ventures, captivated the audience with his strategies in a panel about Metaverse 2024: Forging the Route to a Novel Reality in Cultural and Entertainment Spheres
  • Max Lighter, General Manager MENA & CIS at XT.com, who delivered a keynote on Tokenization Revolution: Building Tomorrow’s Financial Landscape
  • Pratik Gauri, CEO of 5irechain, provided a visionary outlook on Blockchain for Sustainability: Exploring Decentralized Solutions in the Fifth Industrial Revolution

The exhibition floor buzzed with activity as attendees explored the latest innovations from leading exhibitors, including MULTIBNK, EXOLO, HASHAI, BST, and CRATD2C. These titans showcased cutting-edge technologies and solutions, further solidifying Crypto Expo Dubai as a premier event in the crypto space.

Highlights:

  • Inspiring Keynotes: Industry leaders presented groundbreaking ideas and future forecasts.
  • Innovative Exhibitions: Attendees engaged with the latest products and services transforming the crypto landscape.
  • Networking Opportunities: Professionals from around the world connected, fostering collaborations and partnerships.
  • Interactive Workshops: Participants gained hands-on experience and practical knowledge from experts in various fields.

George, chief operating officer at multibank.io commented, ” Our booth’s attracted substantial traffic despite the summer season, and the turnout has exceeded our expectations. This being our first expo, we’re eager to participate in future Crypto Expo Edition and see continued innovation in the expo experience.”

Bumi Kamesh Manchal, Head of Growth at EXOLO Commented “The organization of Crypto Expo Dubai 2024 was excellent. As a representative of Exolo, I had the opportunity to connect with fantastic people and potential partners. The event set a high standard for future expos, and we received an incredible response at our booth. I look forward to participating in future editions with my team.”

Charles Cieters, Co-Founder/Core BIZ ADV, CratD2C commented, we are very pleased with the event’s setup and the organization of our booth, which was exceptionally well managed. The management team was excellent, and we had great interactions with attendees. This being our second participation, we are definitely looking forward particate in future Crypto Expo editions.

Crypto Expo Dubai is a premier event that brings together the brightest minds and leading voices in the cryptocurrency and blockchain industries. Held annually in the vibrant city of Dubai, this expo serves as a global platform for industry professionals, investors, enthusiasts, and innovators to converge and discuss the latest trends, technologies, and developments in the crypto space.

For more information, visit https://cryptoexpodubai.com/ .

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Press Release

Memecoin Madness: Eddie Seal Team Insults Investors and Returns Money from Presale

Crypto Chain Wire

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Two weeks ago, the Eddie Seal memecoin project ($EDSE) began raising funds for development through a presale event. On Wednesday, a controversial post appeared on the project’s Twitter, where the team labeled the presale investors as ‘morons’.

“You morons. You invest in a presale of a new memecoin and then cry when someone runs off with the money. Get a grip and be careful because 99% of presales are scams. We have returned all the payments to the wallets from which they were sent. Eddie will proceed without a presale!” reads the tweet from Eddie Seal profile.

This incident is quite unusual, given market norms. Memecoins are not financial instruments, hence funds raised through presales are not regulated in any way. It is unprecedented for a project team to refund all investments made by individuals.

The refund might have been an attempt by the Eddie Seal team to build credibility within the crypto community, especially as Eddie Seal has announced six marketing rounds aimed at reaching a $1 billion marketcap. The campaign will culminate in an Eddie Seal cartoon, in the style of Rick and Morty or Family Guy. The six marketing rounds include sponsoring a Formula 1 team, a Harry Styles (or another top tier star) concert at Wembley with tickets for $1EDSE, a ‘spending money competition’ with 10,000 credit cards linked to one account, and a $3 million donation to MrBeast for spending in one of his videos.

It was also announced that the team plans to distribute part of the $EDSE tokens to the community gathered around the project in the form of an AirDrop. Sign-ups are expected to start soon.

The price of the $EDSE token in the coming days will reveal how the market has reacted. The token contract address for price tracking is available at eddieseal.org or listed here: 2Zvo6bnwJtyXhsPgbcfajTrEtB7NwrJhK8mMmtEXvHHc

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