Pitbull Token, the flaming dog of BNBChain Have you heard of $PIT? This amazing token has been on the cryptocurrency market for 2 years now and is holding its own in the competitive rankings being fully decentralized. Let's analyze some priority points, apparently Pitbull's model is quite special compared to most;
The PIT community boasts of being managed by its community under a DAO mode, but how is this possible? Going into the technical details of their whitepaper, we can see that this token's contract was waived at its genesis, after burning 50% of its total supply. This means that in its renounced contract state, no one has access to its liquidity, with no owners or partners managing the financial assets. What a peculiar situation, isn't it? After this milestone, the PIT community began to take the reins of managing this token, which had been aimless.
What do the holders of this currency earn without control over its liquidity? Generally market tokens generate profits around the economic resolution of their tokenomic models, but in Pitbull Token there are no investment, marketing or development wallets. This special condition of Pitbull Token seems to attract a lot of attention as it fulfills something very scarce and required in these times; An ownerless, fully decentralized currency with its liquidity funds protected forever under the most irrefutable proof, the total waiver of its contract.
What a spectacular and risky move they have made, I personally do not know of any ownerless currency besides BTC. Understanding that the entire Pitbull ecosystem has been generated under the volunteerism of its community, it completely breaks the corporate management scheme and its areas. In more detail, a company is usually managed by its owners, and these hire technicians for their development areas, as a normal team in charge of a company, but in the case of PIT, its entire community is in charge of all these areas, being a little known phenomenon in decentralized finance and companies in general.
After the above, something that is really notorious and perhaps few people know, is that PIT competes in the market by being totally organic (?) That's right, and this is really impeccable without a doubt. Pitbull's team has never invested a penny in marketing, and lacking wallets for this task, this Token has had to grow solely based on the unstoppable effort to spread the PIT brand around the world, having connection bases all over the globe and with its community gathered mainly in the area of Turkey.
Another factor that keeps the public's attention is its deflationary model, as $PIT's smart contract tokenomics are based on auto-burning and auto-staking. While for every transaction that happens, 2% of it goes to the PIT blockchain wallet (dead wallet) and another 2% goes to each holder. We can infer that under this model, the coin increases its value based on the burning action but also incentivizes its users to retain $PIT's in their wallets through a passive profit model. A bank could probably never deliver a higher profit rate than this and also under a decentralized model per se.
Other data collected that is solidly connected to the BNBChain are; - The liquidity of $PIT is one of the top in the Binance chain. - Its community of holders already exceeds half a million users and is second after BabyDoge. - It is the token that has contributed the highest amount of BNB's burning in the BNBChain. We are in front of a real jewel project of the Blockchain and founded on the Binance foundations. A coin with no risk of Rugpulls or manipulation, and therefore also the impediment of bad actors in its performance over time. Today $PIT is on more than 35 DEX and CEX for use in the market, in addition to being available as a payment currency for individuals and businesses.
Thank you for your time community. The value of information is the main catapult to success, and the safety of investors should always be the primary responsibility of market players.
