#PitbullToken, which has become popular in our country recently, is a project affiliated with a decentralized crypto community. Pitbull Token (PIT), which was introduced to the Binance Smart Chain (BSC) ecosystem on March 17, 2021, is a project that depends entirely on the community and has no central control, according to the introductions.
PIT coin is the name given to the local token of the Pitbull Token project and has been working independently of the center and belonging to the community since the moment it was first issued. Everything about the token is actually linked to the actions of the community.
How Does Pitbull Token Work?
The project, which was developed by the community and continues to grow since its introduction in the first quarter of 2021, is now listed as the 441st largest token and its total value was around $ 34,215,000. The token, which has a total supply of 100,000,000,000,000,000 (100 quadrillion), is highly dependent on the "burning" principle due to this excess number. As the community acts together and increases token burning, different situations such as interaction, integrations and increasing usage will increase the value of the token. The vision and mission of the project are currently focused on the long term.
More than half of the total PIT token supply of 100 quadrillion has been burned and the circulating supply is around 40%. The system automatically makes a relatively large deduction of 4% when performing PIT token transactions. The purpose of this outage is to increase the PIT token value. Half of the 4% transaction received is automatically burned, and the remaining half is distributed as a reward. In this respect, the system has both an automatic burning mechanism and a staking mechanism.
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