What is BasketCoin?
BasketCoin is a new cryptocurrency that offers users a unique set of features. The platform is meticulously crafted, featuring a basket of seven cryptocurrencies that are utilized in numerous trusted staking and DeFi platforms to strengthen the buy-back and burn process. BasketCoin is the first deflationary token that is secured with a basket of cryptocurrencies, providing users with the possibility of staking.
The BSKT token is deflationary, with collateral that covers its value and a system of repurchase and burning of BSKT tokens. A fee of 2% of the value of each transaction will be taken from the transfer. Half of this fee is burned out, and the other half goes to the staking/reward redistribution pool, which speeds up the process of reducing supply. The smart contract itself assumes that a total of 90% of all BSKT will be burned, decreasing the supply from 21,000,000 to 2,100,000.
The BSKT token is secured with a basket of seven cryptocurrencies that cover its value, providing a stable increase in the value of tokens. The platform's security is intended to ensure that the value of tokens remains constant and stable, regardless of fluctuations appearing in the cryptocurrency market. The BSKT token security chart includes the following cryptocurrencies:
- Bitcoin (BTC) – 10.75 BTC
- Ethereum (ETH) – 300 ETH
- Polkadot (DOT) – 6,000 DOT
- SmartKey (SKEY) – 850,000 SKEY
- YfDAI.finance (YF-DAI) – 42 YF-DAI
- USD Coin (USDC) – 245,000
- Basketcoin (BSKT) – 423,736
All the cryptocurrencies that make up the BSKT basket will be used to generate additional profits on platforms such as Crypto.com (profits of 3%-12% APR), YF-DAI (profits up to 72% APR), Swissborg (profits up to 20% APR), and other decentralized profit-generating platforms in DeFi format.
Revenues from these platforms will be used in the repurchase process for the redemption and burning of BSKT tokens, contributing to a significant reduction in supply on the secondary market. 90% of the above profits will be used for repurchase and burnout, while the remaining 10% will be used for ongoing and necessary expenses related to the maintenance and development of the platform.
Overall, BasketCoin is a unique cryptocurrency platform that provides users with an opportunity to invest in a deflationary token that is secured with a basket of cryptocurrencies, providing a stable increase in the value of tokens. The platform's system of repurchase and burning of BSKT tokens ensures a significant reduction in supply on the secondary market, creating a scarcity of tokens that will inevitably lead to an increase in their value over time. Additionally, the platform's utilization of trusted staking and DeFi platforms to generate additional profits further enhances the value of the BSKT token, providing users with a unique set of opportunities in the world of cryptocurrency.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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