What is BinStarter?
BinStarter (BSR) is a decentralized insurance protocol that serves as a mining-style approval mechanism. The protocol brings together projects and liquidity providers and is designed to examine projects according to specific criteria for thirty days while safeguarding liquidity providers from potential damages.
The decentralized structure has brought about some risks, resulting in damages to project owners or liquidity providers. These risks include software errors, token and fund-related errors, overselling of tokens to users, and exchange-based cases that cause negative impacts on the growth rate of ecosystems. To solve these issues, BinStarter created an insurance protocol that protects liquidity providers from probable fraud cases. The network acts as an approval mechanism like an "evaluation pool" designed to solve such issues without fundraising concerns of project owners.
The asset features insured fixed swap pools, a clearing pool that offers a fixed price, fast, transparent, cheap exchange, and insurance coverage against possible fraud cases. The transactions are fair, transparent, and secure, providing low transaction charges.
BSR is the utility token of BinStarter that is built on the Binance Smart Chain and runs on the BinStarter ecosystem. The BSR coin's importance and utility depend on the holding of tokens and the holding duration. The BSR token sets each holder's role in the ecosystem, creating the governing body of the protocol. BinStarter has burned 15,200,000 BSR coins to reduce availability and increase market value.
The developer team of BinStarter released this platform in July-August 2021, with a total supply of one hundred million BSR coins. The token allocations go to seed sale (20 percent), public sale (25 percent), private sale (20 percent), developer team (10 percent), marketing (10 percent), foundational reserve (10 percent), pool rewards (10 percent), and marketing (10 percent).
In summary, BinStarter is a decentralized insurance protocol that protects liquidity providers from possible damages against any negativities. The platform acts as an evaluation pool designed to solve issues without fundraising concerns of project owners. With its insured fixed swap pools, a clearing pool that offers a fixed price, fast, transparent, cheap exchange, and insurance coverage, BinStarter ensures fair, transparent, and secure transactions.
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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