Hungarian Vizsla Inu
What is Hungarian Vizsla Inu?
Hungarian Vizsla Inu (HVI) is a BEP-20 token that is the first Hungarian charity and distribution token. Its whitepaper states that the platform aims to create two marketplaces: a merchandise marketplace and a unique NFT adoption marketplace. HVI also seeks to integrate a payment processing system that allows token holders to pay with HVI anywhere and connect to the animal-friendly community through charity. Additionally, the network aims to reduce the price impact when larger wallets decide to trade their tokens.
HVI is a decentralized peer-to-peer digital currency where all users are equal owners and contributors. A peer-to-peer network (P2P) is created when two or more computers are connected and share resources without going through a separate server computer. The P2P network may be an ad hoc connection (computers connected by a Universal Serial Bus to transfer files) or a permanent infrastructure (linking six computers over copper wires).
Moreover, HVI operates on the Binance Smart Chain and follows the proof-of-stake consensus mechanism. Binance Smart Chain (BSC) was launched in 2020 to develop decentralized applications (dapps) with greater capacity, lower latency, and faster pace. The chain uses a modified version of the Proof-of-Stake mechanism called Proof-of-Staked Authority and seeks to leverage high transaction capabilities.
Each HVI transaction incurs an automatic 13 percent tax, with 10 percent going to the automatic liquidity pool (LP) acquisition and 3 percent to reward holders. LPs enable users to trade crypto tokens on decentralized exchanges (dex) and other decentralized finance platforms (defi) without needing any centralized market makers. In other words, LPs refer to a pool of cryptocurrencies or tokens that are crowdsourced and locked in a smart contract that supports the trade between assets on a decentralized platform. HVI’s automatic liquidity pool algorithm helps reduce large price fluctuations.
The team behind Hungarian Vizsla Inu comprises ten members, including Fabian S. (Director), Lazlo K., Andras G., Daniel K., Peter G., Mathias A., and others. HVI's total supply is 10,000 quadrillion tokens.
As a charity and distribution token, HVI aims to give back to animal-friendly causes through its payment processing system, which allows users to donate to these causes using the HVI token. HVI's NFT adoption marketplace also provides a unique opportunity for animal lovers to collect and trade NFTs that represent their favorite animals. These marketplaces provide an additional use case for the HVI token beyond its value as a digital currency.
HVI's use of the Binance Smart Chain also allows for faster transaction times and lower fees compared to other blockchain networks, making it a more attractive option for users looking to buy, sell, or trade digital assets. The proof-of-stake consensus mechanism ensures that HVI remains a secure and decentralized network, with all users having equal rights and responsibilities.
Overall, Hungarian Vizsla Inu is an innovative charity and distribution token that seeks to provide unique use cases for its users while giving back to animal-friendly causes. Its use of the Binance Smart Chain and automatic liquidity pool algorithm make it an attractive option for users looking for fast and affordable transactions. With its team of dedicated members and a large total supply, HVI has the potential to become a prominent player in the world of decentralized finance.
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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