Published
2 years ago on
October 31, 2021
Table of Contents
The cryptocurrency industry is facing the problem of inflation from the very beginning. A number of nice cryptocurrencies have collapsed due to the effect of inflation on its price. SafeBLAST comes to the rescue to this long-standing problem. With its deflationary nature, SafeBLAST works by reducing the total supply with each buy/sell transaction on the chain. With the inherent transparency and security of the Binance Smart Chain, SafeBLAST provides its users one of the safest and profitable methods to invest and earn passive income just by holding the token, thanks to the reflections the token provides as a prize to its holders.
The uniqueness of SafeBLAST is that instead of being just an ordinary deflationary token, users can also use it as a utility token, making it at par with any fiat currency. Just like any other fiat currency, customers can directly use SafeBLAST to pay for the purchases they make on vending machine, retail shops using their POS, as well as for making online payments to e-commerce platforms worldwide. This is a major shift in the utilization of cryptocurrencies, which was traditionally only used to trade and earn more cryptocurrencies. Prior to this, users were needed to first convert the token to the desired fiat currency like the dollar, pound, yen, etc which involved significant conversion charges. With this new usability feature, SafeBLAST has opened the doors to the worldwide adoption of cryptocurrencies as an alternate payment method.
How SafeBLAST fights against inflation
SafeBLAST taxes a 10% transaction fee on every buy/sell transaction. 5% of this fee is used to reward customers by distributing it to all the holders of its native token $BLAST. The platform maintains a “Dead” wallet which also receives a share of this reward. As the reward distribution is percentage-based, the wallet containing more tokens gets more tokens as rewards. The maximum share of the reward goes to the “Dead” wallet which never comes back into circulation. These tokens are burnt and thus the total supply of the token is reduced with every buy/sell transaction. This is the mechanism by which SafeBLAST fights inflation in its price. The other 5% of the transaction fee goes towards maintaining a liquidity pool in PancakeSwap.
When using SafeBLAST tokens "Blast," it is possible to exchange them for other tokens using the website BLASTswap.com. The SafeBLAST token application, as well as all of the platforms on which the SafeBLAST token is available, are very user-friendly. Using the internet, investing, and trading SafeBLAST tokens to generate money is simple even for those with little or no prior understanding of the subject.
The smart contracts of SafeBLAST have been audited by CyberCrime Shield, which is one of the leading security audit services for cryptocurrencies and other financial platforms.
In order to make the platform more easily reachable by customers, the SafeBLAST team is working to develop a smartphone application for all leading smartphone platforms. Users will be able to easily utilize its services using their smartphones that will soon be available to all the major app distribution platforms.
In its quest to bridge the gap between crypto and fiat currencies, SafeBLAST is also working towards integrating its services with VISA and Mastercard. This will be a giant leap towards its usability and will definitely attract more customers to directly use their token holdings for their everyday shopping needs.
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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