La ciotat, PACA, France, 25th Jun 2022, King NewsWire, Influencers hold the key to advancing cryptocurrencies in times when major platforms aren’t inclined to promote them. This calls for a fresh perspective, new concepts and innovation – such as Bitcat, the first social network to be designed using the new concept of social token. This is the place where an influencer can mint his/her own crypto token!
The social token and network are radical concepts, where every member can create their own crypto token which reflects their influence value.
So what’s a social token? Simply put, it represents an influencer who gets a nod from Bitcat tech team to mint their own cryptocurrency. They also get the right to burn Bitcat tokens and thus help maintain its value. The influencer can promote their career with monetized content, and even share their video on the Bitcatcoin Telegram channel.
“We all know that traditional digital advertising for cryptocurrency is not yet favored in the mainstream ecosystem. Major advertising platforms have shunned its advertising. Thus crypto influencers are now the critical alternative marketing method. Influencers with attractive ideas hold the power to affect cryptocurrencies and blockchain projects in the global community of cryptocurrency enthusiasts,” says a spokesperson for Bitcat.
Surveys also point to how influencers are among the leading voices in marketing today. A Nielsen survey revealed that 92% of users rely on ‘earned’ media, or word-of-mouth publicity, and suggestions coming from family and friend circles.
Bitcat coin has an exclusive platform where it works wonders – Pictomag. Pictomag is a free social media app where livestreaming is popular. Users here get to connect and earn digital points for engagement activities. When users sign up for the app, they earn Diamond points for using the app. They go on to create content, which is then rewarded by other users in diamonds during live streaming. The diamonds can be redeemed in Bitcat coins, or converted to credit so as to be gifted to anyone else in live streams.
Pictomag influencers can earn the privilege of creating their own crypto coins as per their presence. The coins have many uses in the app, like in the Bitcat reward distribution. Half of Bitcat coins earned by users are meant to be distributed proportionally among all coin holders. The coins can be traded internally by Bitcoin holders. The Bitcat coins can also be bought from the Binance sidechain in sale.
“If we look at crypto projects, many of them leave people in the dark about who the team is, where the money will go, or what users will receive from the ecosystem. Bitcat is designed to avoid pump and dump tactics and such other scams,” said the spokesperson.
The Bitcat coin is the native token for the network with a hard limit of 200MM. The blockchain is BSC with BEP20. Each quarter will see buyback of Bitcat coin through 20% of profits, the aim being to buy back half (100MM) of them, to be eventually destroyed. Such buyback events will be announced to all members.
In terms of social token tokenomics, Bitcat coin blends both passive income with new features. There is a static rewards system, where influencers can be rewarded as follows: 1% goes to liquidity pool, 2% to influencer, and 2% to Bitcat. 20% profits are reserved for buying back the token for burning.
Bitcat will earn revenue from three sources. The listing fee for innovative tokens and assets when they are put on the exchange is the first source. Secondly, there will be an exchange fee at an initial 0.2% per trade. Subsequently there will be options like make and taker fee, volume-based tiers and zero fee promotions. The third source, social token, will earn 1.8% for the company.
The ICO for BitCat has been announced and sales will begin from 3pm, July 1 onwards on first-come-first-served basis.
Investors can purchase BITCAT tokens in 3 phases: the max limit will be 100,000,000 tokens. The price will increase with each passing phase. Bitcat tokens will be received by investors within 5 working days after the ICO finishes. To start, download a Web3 wallet such as Trust Wallet or Metamask. There will be many avenues to buy Bitcat coin, including PancakeSwap.
For more information, please visit: https://bitcatcoin.net/
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Kolkata Local journalist was involved in the writing and production of this article.