GIBXSwap was founded on the basis of the digital asset exchange GIBXChange. GIBXChange is an internationally integrated internet brokerage company under the GIB Global Investment Digital Bank and Capital Trust Group. It is a subsidiary of the AFF Multi Finance Group and is an international integrated digital asset exchange and LP traffic provider under the GIB Digital Bank.
To ensure that GUSDT’s value continues to grow over time, GIBXChange has established a proof-of-burn model that burns a certain percentage of the coins sold through its exchange. This model adds value, which further increases the price of the coin. Not only does it increase the symbolic price every hour, it also protects it from market fluctuations.
What is a proof of burns / POB?
Proof of burn is a method of investing in a brand new cryptocurrency: in order to obtain a new currency, you have to “burn” (destroy) another currency such as Bitcoin, Ethereum or GUSDT. In theory, every new cryptocurrency equals the value of the destroyed coin, but in fact you cannot destroy the cryptocurrency. The system requires you to send it to a location that will reduce its total supply. For example black holes!
What exactly is token destruction? Why destroy tokens? Where do the coins go after they are destroyed?
Coin burning is the permanent removal of tokens from circulation. In other words, the destroyed tokens are equivalent to a permanent freeze and can no longer flow into the market.
So how can you achieve token destruction? The most common method is to send tokens to addresses of black holes. A blackhole address (eater address) refers to the address at which the private key is lost or cannot be determined. These addresses are like black holes. They can only be entered and not exported. Any token that hits the black hole address cannot be transferred and enter the market.
Below are the more popular addresses of Bitcoin and Ethereum Black Holes:
About 13.2 BTC in the Bitcoin black hole address mentioned above and about 7780 ETH in the Ethereum black hole address.
The most remarkable thing in the world is that the crypto company will launch a new decentralized currency called “X”. The new currency will be the centerpiece of the GIBXSwap platform, which can be used for voting, buybacks, fundraising, trading and making coins. The emergence of “X” is mainly due to the gradual increase in circulation of the original GUSDT ™ ️ market. Market value desperately needs a larger carrier to deliver breakthrough growth; the market needs a new currency to stimulate. The maximum offer of “X” is 1 billion, and the block reward: Each block rewards 20 Xs. Open source code is reviewed by professional organizations like Ernst & Young and Deloitte, which are safe and secure. At the same time, X will support the decentralized cross-chain transaction protocol from BSC, HECO and ETH by using “dual mining incentives through liquidity mining and transaction mining”, which can enable participants to achieve maximum returns and seamlessly integrate Integrate Binance and Huobi’s massive global traffic and head resources.
The digital asset industry is evolving very quickly and changing every day. Many technological innovations and changes always come unintentionally. It is believed that GIBXSwap’s disruptive pioneering work can find a breakthrough in the market, reconstruct the traditional financial order and eventually become the first product to step into the next blockchain era and become a dark horse that will stand out in 2021.