Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. Moreover, another main reasons why cryptocurrencies are more fashionable is because we know that traditional banks, as modern as they want to be, have an old-fashioned culture and mentality. Beyond the typical financial instruments, they have only evolved to provide some online services. Now, with the emergence of DeFi (decentralized finance), a world of financial instruments is opening up, accessible, open and without permissions for anyone with a cell phone or a computer connected to the Internet. It is a movement that takes advantage of decentralized networks to transform old financial products into transparent protocols that work without intermediaries.
For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
Moving on, the project I’m going to present you is Nebula Protocol (https://nebulaprotocol.org/), Binance Smart Chain based project that use a decentralized finance.
Definition
In more detail, the Nebula Protocol (https://nebulaprotocol.org/) is a community-driven DeFi Token launched at the show that offers three functions during each exchange: Reflection, LP Acquisition and Burn.
Let’s take a closer look at what each of these functions entails:
- Reflection: A purchase, sale or transfer incurs a 2% fee, which goes directly to each user who holde their token, in proportion to their holdings with respect to the total subminister.
- LP Acquisition: Each purchase/sale goes through an automatic liquidity generation of 6% to sustain the passive yield and give balance and stability to the token. The idea is that the token becomes a locked liquidity token and remains permanently as LP.
- Burn: the platform collects 2% of the fees on each transaction. This allows the supply to decrease with higher trading volume, which introduces more scarcity and buying pressure into the ecosystem.
How does it work?
The Nebula token is community-driven. In the first instance, the initial liquidity is provided by the team on a blockchain basis for half a year. In the meantime, each and every transaction made, be it buying, selling, staking, etc., automatically generates liquidity within the Pancakeswap Liquidity Pool.
In this way, token holders are passively rewarded through the transaction fee that is distributed.
important and striking feature is the smart contract that the team has created in order to avoid the ability to remove all liquidity at once. Through this contract, the token is blocked for a specified period of time. Until it is completed, the restriction remains.
During the next phase, Nebula is focused on developing its performance aggregator, which allows investors to earn more rewards through our participation and liquidity pools.
Finally, the intention is also to create its own marketplace of selected NFTs, allowing Nebula holders to bet on and earn dedicated NFT digital art cards.
Bounty program
The project gives the opportunity to earn SafeNebula tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (https://bitcointalk.org/index.php?topic=5339690.0), where you can access the link in order to see what are the conditions to become an early Nebula Protocol contributor and start acquiring tokens.
For more information about the project, you can visit and read their WhitePaper available here (NebulaProtocol_WP). You can also stay tuned in their official Telegram Channel (https://t.me/safenebula). I hope you liked the post and soon I’ll send you new ones.
Token details
The SfeNebula token will be the $ SNBL, which will serve to provide price stability and be used as a combustion mechanism. The idea is to add value to the project ecosystem and to be able to create a sustainable environment for projects launched in it.
The token is based on the Binance Smart Chain (BSC) network, which is a blockchain network built for running smart contract-based applications, which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC. What is special about Binance Smart Chain is its low fees and fast transaction speed, but what is even more special is its compatibility with EVM (Ethereum Virtual Machine). Due to EVM compatibility, DApps developed on Ethereum can be ported (imported into Binance Smart Chain as-is), and Ethereum wallets like Metamask can be used as-is.
Social Media Links
- Website: https://nebulaprotocol.org/
- Twitter: https://twitter.com/safe_nebula
- Telegram: https://t.me/safenebula
- Facebook: https://www.facebook.com/nebulasnbl/
Profile : https://bitcointalk.org/index.php?action=profile;u=2750501
BSC wallet : 0x476366b6839e2046bE2DCf258476633cAE21195e
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