Bitzznet Review - A Project Wishing to Launch a Social Revolution in Blockchain
Blockchain technologies and cryptocurrencies are on the rise. Over the last decade, the popularity of cryptocurrencies has steadily increased, becoming a pillar of contemporary society.
However, crypto skeptics may feel the need to possess a high degree of technical knowledge to understand this world. The market may fall into the trap of ignoring the web 2.0 users, missing on relevant potential.
Bitzznet, a project headquartered in the United Arab Emirates, aims to alter that. Our short and impartial overview will analyze the initiative’s vision and features in the following sections.
Bitzznet: The Project’s Definition
In a nutshell, Bitzznet is a Social DeFi network. An integrated social media network and DeFi Ecosystem are at the core of this initiative.
Users of Bitzznet may connect, share, and communicate with one another in a purely social media network style. The project bets on its monetization capabilities, allowing users to earn money through content creation and subsequent community engagement.
The following sections will allow us to spend more words on the project’s ecosystem and its main features.
The Intention of Bringing a Self-Sustaining Ecosystem into the Project
The social aspect of Bitzznet wishes to reach decentralization through a DeFi ecosystem. Users will be able to trade, exchange, and swap currencies on a Decentralized Exchange (DEX).
The ecosystem relies on three tokens:
- $BTZ: Bitzzcoin facilitates transactions both on the blockchain and on the Bitzznet platform. Bitzzcoin has a deflationary nature, with the team aiming to sustain its floor price.
- $USDB: $USDB is a stablecoin acting as a collateral cryptocurrency asset during the transactions.
- $BBT: A utility coin users can obtain on the Bitzznet platform and serve as a reward system.
Liquidity Pools
The liquidity pools attempt to guarantee that the entire exchange system has enough liquidity. Investors in the liquidity pool, according to the team, can produce several streams of income for the community.
DAO
Using a Decentralized Automated Organization (DAO) is a typical strategy in the blockchain sector. The fundamental objective of the DAO is to ensure the effective governance of the buyback fund and the treasury fund to optimize the fairness of transactions. The platform's investors are in control of the modifications to its internal mechanism.
Adspot NFTs
Bitzznet's platform seeks to extend the concept of advertising on a decentralized network by utilizing Adspot NFTs. The community can buy these NFTs to obtain a share of the revenue the moment an advertiser purchases the ad.
In other words, holders of the Adspot NFT can obtain a passive income. Being NFTs, users can sell or exchange each Adspot on the portal.
NFT Marketplace
An NFT marketplace is available on the Bitzznet ecosystem. NFTs are receiving enormous hype, so it is not surprising that the team decided to bet on this technology.
SkillNet and CryptoEye
The goal of CryptoEye is to provide a portal for all blockchain-related services. The mechanism will include marketing tools (such as Airdrops and AMAs), a crypto launchpad, and a rating system for existing and future blockchain initiatives.
SkillNet aims to become a digital place to sell and hire Web 3.0 services.
Bitzznet’s Metaverse
The project should include all the features above in a Metaverse designed by Bitzznet’s team.
How Does Bitzznet’s Tokenomics Work?
Each operation on the platform will come with a 10% transaction charge. The fee will be split among a buyback fund, revenue distribution to investors and holders, marketing operations, and a treasury fund. The Bitzznet community will have access to the following liquidity pools:
- It will be possible to trade the BTZ/BNB pair on the first liquidity pool.
- Exchanging the BTZ/USDB combination in the second liquidity pool is possible.
- Finally, the third liquidity pool lets traders trade the BBT/USDB currency pair.
One can look at the whole system’s architecture from two points of view:
- Users can earn $BBT, exchange them for $USDB to obtain $BTZ, and access the market to get $BNB.
- Investors can exchange their $BNB for $BTZ, which in turn will lead to $USDB and $BBT.
Both users and investors can take full advantage of this decentralized exchange (DEX) system. Crypto enthusiasts are generally very familiar with the benefits of joining a DeFi ecosystem, such as:
- Transparency: blockchain contains records of every transaction that takes place on the network.
- Removing intermediaries: projects like Bitzznet create a peer-to-peer (P2P) system, where users can benefit from the lack of third parties in the transactions.
- Avoiding human errors: a well-coded smart contract eliminates human mistakes from the process on a daily basis.
Key Takeaways
Bitzznet’s official website and social media accounts may be accessed by anybody who wants to remain updated on the project (Discord and Twitter).
The project’s fully-doxxed staff is on a mission to bring about a blockchain revolution. By participating in the $BTZ private sale, the market will have the opportunity to evaluate Bitzznet at a 40% discount.
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