The fact that no release date has been set yet speaks of TipsyCoin’s credibility since Tipsy’s team wants to cover all parameters and not rush for a launch. In today’s crypto era where coins can be minted in minutes and then deployed onto a contract instantly (simply copying and pasting from other projects), it does not take long to buy a social media following and develop a sketchily designed website. Of course, TipsyCoin has done the complete opposite – their skilled developers are meticulous in coding smart contracts which are innovative, doing sufficient beta testing, waiting for an audit to complete before launch and they are locking a remarkable amount of BNB in their liquidity pool. The time-lock is impressive too – 5 years – more than most other projects. In line with their promise of a long-term commitment, the Tipsy team has their equity vested over 12 months. TipsyCoin has started to build and engage with communities and the project has even committed to non-profit causes before its launch.
Owning $tipsy unlocks a world of privileges. Besides being part of a fun community, holding $tipsy automatically earn rewards. There is no need to deposit $tipsy anywhere – there is no farming or staking mechanism since no new $tipsy is ever generated. $tipsy has a limited, maximum supply and the passive rewards to its holders are generated from tax proceeds of sale transactions (instead of minting new coins). As the first-ever coin to only have a sell tax (sellers pay a 10% tax when selling $tipsy) and no buy tax, $tipsy is built to encourage buying and to be part of a tightly knit community. Having no farming or staking mechanism is also another step in assuring $tipsy holders that their funds are forever safe as long as their wallets are secured. In the past, Binance Smart Chain (BSC) has been prone to economic exploits and TipsyCoin is doing everything possible to protect its holders.
Part of the proceeds from the selling tax is used as rewards for $tipsy holders, while another part is used to buy back $tipsy during downward market trends. The project has created the buyback fund called the tipsyVault which basically accumulates BNB during sell transactions (generated from the tax proceeds). During downward market trends or whale dumps, the buyback is activated and thus BNB is converted to $tipsy, and this $tipsy is then burnt therefore reducing the supply. This means that the amount of BNB in the liquidity pool would increase, and the amount of $tipsy in the pool would decrease, resulting in a price increase. The burn then happens immediately after – this would reduce the supply and therefore further increase $tipsy’s value. As we have seen in economics, assets that have a diminishing supply can only grow in value over time.
In a press statement, Pingu, Chief Penguin of TipsyCoin said “The coolest crypto projects were born over drinks. $tipsy fosters a community of love, trust, and kindness between humans”. TipsyCoin also has exciting ambitions for the future – metaverse partnerships with clubs for VIP hospitality and
collaborations with concerts for front-row seats. This will create an added utility for $tipsy, in addition to its NFT collection that is in the pipeline.
TipsyCoin is poised to be the hottest launch of 2022. Launching between January and March next year, it positions itself to be a community-only cryptocurrency with a maximum supply of 100 billion $tipsy and coupled with its burn mechanisms, one can only expect $tipsy to increase in price. It will be available on PancakeSwap on BSC.
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Source: Cryptocurrency - investing.com
