What is the LibraProtocol project based on and what is its token LIBRACOL.
LIBRACOL is designed to have three main components:
-The first is the “reflection” where LIBRACOL transactions are charged a fee which is distributed among the token holders.
-The second is a commission levied on transactions that will be allocated to various pools of liquidity on Pancake Swap and other platforms.
-The third component is a token burn that occurs with every transaction taxed a 10% fee split in two ways.
5% goes to thinking rewards and 5% goes to cash pools. 2.5% of the 5% sent to the liquidity pools is converted to Binance Coin (BNB) to ensure the liquidity of the LIBRACOL and Binance Coin pair.
Some token burns will be done manually by the team.
Having burns controlled by the team and promoted based on achievements helps to keep the community rewarded and informed.
LibraPROTOCOL aims to implement a burn strategy that is beneficial and rewarding for those engaged for the long term.
Furthermore, the total number of LibraProtocol burned is featured on our readout located on the BscScan.
Burning coins, artificially reducing the supply of the asset and increasing the long-term supply / demand ratio may not affect the price of the asset in the short term.
But it is safe to say that this practice is beneficial because in the long run it brings big profits.
Burning a certain amount of coins can artificially keep the price of the asset at the desired level.
This prevents depreciation of parts, which are not used for a long time.
If this strategy is neglected, the value of the coins tends to zero and the project becomes unprofitable.
Combustion does not often lead to an immediate appreciation of an asset’s value, as it often destroys coins that have not been in circulation for a long time.
But as the demand for coins increases over time, it can contribute to significant growth, and updating previous highs can be reached much faster.
LIBRACOL is a BEP-20 token launched on the Binance Smart Chain (BSC) ecosystem whose LIBRACOL contract was verified on November 17, 2021.
LIBRACOL is built on the Binance Smart Chain which uses proof of authority as a consensus mechanism.
In proof of authority, the creators of blocks are called validators. These validators are pre-approved and chosen by Binance, centralizing the blockchain.
Due to the centralization of the Binance Smart Chain, users of its platform must trust and rely on Binance for security.
The Binance Smart Chain uses a consensus mechanism called proof of authority. In proof of authority, the block creators are known as validators. These validators are pre-approved and chosen by Binance. To be approved, they must confirm their real identities, invest money to prove long-term commitment and be equal to all other candidates. This makes proof of authority reputation-based by design.
In this model, Binance has absolute control over the blockchain. They decide who becomes a validator and they remove validators at their discretion. All of the chain’s users must trust that Binance will behave in everyone’s best interest. Should Binance decide to alter any aspects of the chain or ecosystem it has the power to do so.
The Binance Smart Chain is a great way for investors to get lower transaction fees, and faster speeds.
Despite launching in September 2020, Binance Smart Chain has already reached 90% of Ethereum’s daily traffic — demonstrating rapid growth and adoption.
The Binance Chain is growing quickly every day and as mass market adoption continues, the supporting case must quickly emerge. The vision is very large with this protocol and the potential is even larger.
Little reminder :
LIBRACOL has been certified on the Binance smart chain.
Before buying the trending token, you should know that LIBRACOL penalizes sellers with a 10% fee and redistributes half to other token holders as an incentive to buy and hold.
LIBRACOL was created to address several issues plaguing cryptocurrencies today, including price volatility and crypto investors’ bad habit of selling prematurely; hence the 10% sales charge.
You will buy LIBRACOL tokens with very interesting bonus.
More information on the ICO click here.
No link.These are different protocols.