Bitcoin

BUGG INU – A Unique Model for the Future of Finance


About a decade ago, no one knew what DeFi was. What’s more, a large number of people did not envision the $1 trillion market cap of the cryptocurrency space. Despite this, a lot has changed today and it appears that decentralized finance is the future of finance.

While there are many decentralized crypto projects in the space, Error It seems to stand out because of the unique innovations it would like to introduce to the crypto and DeFi space.

Project BUGG مشروع

Bag you It was established on May 29, 2021 and the project appears to be the fastest growing project of its kind. Bugg aims to bring popular cryptocurrency concepts into the mainstream.

Bugg is a decentralized independent revenue generation protocol. This means that the form allows its users to earn its native token automatically.

The original symbol for the project is $BUGG. Every time a transaction is made, whether a token is bought or sold, 2% of the transaction fee is distributed to each token holder. This model is much more useful than the traditional financing system.

Banks for example may decide to give a certain percentage of interest to their users after a certain period. However, this benefit is usually subtle and usually fixed regardless of the number of transactions that occur.

On the other hand, the Bugg protocol gives more rewards to its holders if more transactions take place on the protocol. This additional passive income that users earn can be tracked through the user’s wallet balance, token price, and more.

BUG’s contraction mechanism

To reduce supply and create token scarcity, Bugg burned 50% of the total supply. In addition, half of the redistribution fee will be burned to dump the token. This burning mechanism will increase the value of the token in the long run.

BUGG . Swap

The $BUGG token was created on the Ethereum network. As such, gas fees used in transactions are expected to be high. The Bugg team has come up with a way to lower fees on the network. Since the Ethereum network offers a reward for burnt items, BUGG transactions on the network will be much cheaper. Every time a transaction is made, Bugg tokens are burned. Bug implements gas tokens to significantly reduce costs on the network.

The cost of gas in Bugg transactions is about 20% cheaper than the regular ETH fee. Bugg swap is powered by version 2 Uniswap. It supports the exchange of all ERC20 pairs with each other on the network instead of a single ERC20 pair against ETH.

BUGG app

The BUGG app is not yet released. However, the team is working hard to ensure that the app will be launched soon on the Google PlayStore as well as the Apple Store. The app will support internal payments between Bitcoin, Ethereum, Litecoin, Dogecoin and BUGG token. Other coins can be added in time to improve user experience.

The unique feature of Bugg as a payment platform is its ability to support offline payments. Users who live in rural areas or locations with poor internet connection will not have any problems using the app to make payments as it also has an offline feature

The offline feature can be used if the user owns 10%-20% of their assets. The stacked tokens can then be used to make offline payments. However, to achieve this, the sender and receiver will need to communicate with each other on the app.

The use of cash or physical cash continues to decline with each passing day. The Bugg team envisions a world of finance where users will be able to seamlessly transact with each other and make payments digitally. The Bugg app’s offline payment feature will be a step in the right direction to make it happen.

conclusion

Decentralization, transparency and trust are some of the core values ​​of Error. The project is growing rapidly and currently has a strong team and community supporting its goals. The project’s roadmap is distinct and with the problems it solves in decentralized finance, mass adoption of BUGG is almost inevitable.



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