The concept of cryptocurrencies powered by blockchain technology promotes equality via decentralizing decision-making among participating people. As this idea became popular, many developers came up with unique projects and ideas. A simple computer code could run the entire financial system with no central authority that could control or manipulate it and giving rise to Decentralized Finance (Defi). However, the Defi has never truly decentralized it just made a few computer nerds who could play around with codes new bankers. These nerds’ lack of deep financial knowledge, mismanagement of funds, and inability led to the collapse of the dream of decentralization. Projects like Terra’s luna, UST, FTT, Voyager, 3AC, Alemdea research, Celsius, Blockfi, etc are some of the biggest blows to the industry that increased doubt among people about the crypto industry.
The recent development in the market and the ease with which anybody can create a token out of the air and dump it on unsuspecting investors has undoubtedly impacted the crypto community. Greed remains dominant among the investors ignoring everything for profit that has put us into this palace. Crypto is not just currency or money it’s a technology that will be powering modern finance. Trusting computer code with a protocol transparent enough for everyone to see works perfectly.
There are tons of cryptocurrencies in existence and each one promises you an enormous fortune but unfortunately as soon as it gets launched in exchange your dreams get shattered. Protecting a project from a dump is impossible but what if a dump could drive the price of the token higher? Not possible, crypto is all about innovation and there is a protocol called surge that drives the price of a token upwards no matter if someone buys or sells. 2Spice is a new token that implements surge protocol to protect investors from the dump in the price.
Woking of surge protocol:
Condition 1: when someone buys the token
Let’s say you pay x amount of assets to buy the n number of tokens, with the buying tax the total number of tokens minted = [ntokens – {ntokens*tax}] some of the tax goes to the liquidity inflating the current price of the token.
Condition 2: when someones dump the token
There are y amount of tokens someone dumps to redeem the underlying asset, a certain amount of buy tax is applicable, and the amount redeemable from the token = [ytokens – {ytokens*tax}] which you exchange for the asset and the amount of the tokens sold is bunt.
Basically, when you buy the token you get a newly minted token, and when you sell that amount of token is burned. The supply and demand are always balanced so that the price of tokens always appreciates in value no matter what the condition.
As the Price of the Token = liquidity/ circulating supply, the token price will never depreciate whether people buy or sell as the ratio of supply and demand is maintained by the smart contract.
2spice is an ERC-20 token BUSD as trading pair on Binance Smart Chain (BSC). The team is offering tons of utilities for the content creator with a unique revenue model for the sustainability of the project. However, Xsurge is working to stabilize the price of their token 2spice is focused on the growth in the value of tokens from each trade. The smart contract is different from the Xsurge and is not just a fork but done carefully from scratch following their protocol.
2spcie solves the problem that most investors are facing in the crypto world: their assets are deprecated with time. Market volatility won’t affect the price as it has stable trading pair. Smart Contract is an internal DEX and developers won’t be able to mint any new tokens after the first mint, making 2Spice a safe investment for investors. Only 400K $Spice are minted, 200K are allocated for presale, and the rest 150K $Spice are locked on the reward contract and 50K $Spice for Airdrop.
2Spice is not just another token but a revolution in the crypto space, the team behind the project is utilizing a unique concept that will power the Defi and distribute power to its holders and community. The presale will start on 28th Dec. don’t forget to join when the price is still low.
Website: https://2spice.link/
Join 2Spice: spice_channe.t.me
Twitter: https://twitter.com/2spice2
Email: spice@2spice.link
Contact Info:
Name: 2Spice
Email: Send Email
Organization: 2Spice
Website: https://linktr.ee/2spice
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Original Source of the original story >> Implementing Surge Protocol To Protect Investors From Dump
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