Pitbull Community Review 2021: Everyone Holds, Everyone Wins
The evolution of the crypto market over the past decade is undeniable. While BTC is at the center of attention, it’s just a drop in the ocean of the several innovations erupting with blockchain technology, across various industries.In light of this evolution, this article will cover one of the new innovations that are slowly penetrating the crypto market and gradually carving a niche of dedicated users and community, the Pitbull Community.Today, there are well over 5000 cryptocurrencies in the crypto market, with multiple daily additions. Thus, it can be quite difficult to know which ones to invest in. Not every crypto asset will be successful, some will fail and a few are scams. So, is the Pitbull Community token a worthy investment? We will discover at the end of this guide
What is the Pitbull Community?
The Pitbull Community is one of the relatively recent cryptocurrency projects to hit the blockchain market in 2021. This innovation adopts a community-driven approach to the DeFi ecosystem. Pitbull Community created this innovation with long-term visions that emphasize the success of the currency, and potentials for future integrations as the project progresses.
While this project is relatively recent, it has generated a massive buzz in the crypto space and garnered the support of a dedicated community, as evident in the social media platforms and the population of token holders.
The Token: $PIT
Essentially, this is a self-staking token, owned by the community. Since its launch, dedicated volunteers in the community have constantly strived to improve upon it. The community comprises individuals such as web developers, data analysts, writers, and several other individuals who have made their talents and resources available for Pitbull’s growth into a community-driven success.
Everyone has a voice and can work proactively to grow $PIT. The decentralized nature of this project has evidently positioned it for sustainability and disruptive tendencies in the crypto economy. Again, the strength is in the community, which makes this project one of the pioneers of the thrilling age of social blockchain.
Token Economics and Distribution
There are a total of 100 quadrillions $PIT tokens available for the initial supply. With intentions to control inflation of the token, 50% of the overall supply has been burnt initially and sent to a dead address before making the token available locking there forever with the smart contract.
According to the smart contract, the project is automated in such a way that 2% of every transaction spreads to every $PIT holder and another %2 goes to dead addresses. This signifies that anyone who holds the token qualifies for consistent incentives and rewards while in the process, $PIT circulating supply is significantly reduced as the number of dead address holding increases.
In a bid to create a profitable ground for investors, relative to a higher price floor, for every trade, the platform automatically creates liquidity which it sends to the dead address and locks permanently. As of today, the Pitbull Community has successfully burnt roughly 58% of the overall supply. 7.5% of this value was burnt as a result of the laid down PIT tokenomics for the project since establishment. As of mid-June, 2021, the circulating supply stands at 42 quadrillion and several trillion