Polygon-based smart contract Bearcoin is launching on July 15. The intelligent contract offers a feasible and competent solution to crypto volatility.
It’s tied to the price of bitcoin, allowing it to stay stable even when bitcoin is going through a deflationary cycle.
Bearcoin offers a perfect buffer against crypto volatility
Bearcoin is an Ethereum-compatible immutable smart contract based on the Polygon blockchain with significantly lower transaction fees than Ethereum. The contract uses the Chainlinks BTC/USD price feed to determine whether to inflate or deflate.
The freshly minted Bearcoins, which carry an inflation rate of up to 5% with each transaction, is sent to a randomly selected address in the inflation pool.
With every transfer, a transaction fee is lost when the value of Bitcoin falls and the currency is deflated.
Understanding price regulation mechanism- inflation mining
By distributing the inflation generated with each transaction to a randomly selected address in the inflation pool, Bearcoin compensates buyers in times of inflation.
Inflation is distributed by selecting ten random accounts from the inflation pool, with the highest account balance receiving inflation. Bearcoin makes inflation mining possible for anyone with at least 100 BTCBEAR in their account.
Bearcoin employs two-pronged measures to counteract deflation: First, during a deflation cycle, Bearcoin can mark up to 5% of each transaction as deflationary.
Bearcoin’s second method of being DEX-friendly is by only draining accounts that have chosen to participate in inflation mining. Any account that benefits from inflation mining are also subject to deflation.
Bearcoin prepares for launch in a fittingly bear market
- Bearcoin has been audited by Certik, undergone KYC by Coinscope, and is nearing ICO on DxSale.
- The initial token sale will be at conservative prices and fully fund the liquidity pool (60%). The resulting liquidity pool tokens will be locked for five years to ensure the pool’s stability.
- 38% of the total supply will be randomly distributed to addresses holding at least 100 BTCBEAR with inflation mining enabled.
- The project will airdrop the tokens for mass crypto adoption throughout the year. The remaining 2% is reserved for team rewards and startup costs.
Strategic partnership
The decentralized asset BTCBEAR allows investors to buy when the price of Bitcoin falls or hold when it rises. Bearcoin has boarded Blockwiz, a premium crypto marketing solutions provider, to help with expansion in new markets.
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