![]() ![]() With the funds raised through all of this trading action, it becomes possible for these tokens to aspire to greater utility. While interesting in theory, the empirical results have been disruptive to say the least, with countless tokens reaching valuations in the billions, Saturna reaching a $100M market cap within days of existence. This plays off the general conception of "buying low" and "selling high" that people are conditioned to seek out in order to skim profits, punishing those who constantly trade in and out, incentivizing buying and holding tokens. This proportionally levied tax ensures that there is a steady flow of revenue with half going into liquidity, the funds backing trading, and the other half distributed to all existing holders to reward long-term investors. Whereas DOGE can be traded freely, Saturna employs a 10% transaction tax on all buys and sells. Saturna is the latest in a long line of tokens that point to DOGE as the starting point for the code in their contract, borrowing from the popularized SafeMoon model. With DOGE ready to actually be sent to the literal Moon on an actual rocketship, it's become clear that "memecoins" are here as a serious entity that can collect enormous levels of capitals to accomplish previously unfathomable project goals.ĭOGE, a token originally conceived to parody the volatility of BitCoin (BTC) as an asset, has taken a life of its own and bred a new class of hedge funds in the form of these new tokens. In order to pay for these energy costs, miners are rewarded through "gas" fees collected on every transaction.īSC however, and Saturna by extension, utilizes the increasingly-adopted Proof-of-Stake model which cuts down on these costs, both financial and ecological. This process is referred to as proof-of-work, an energy consuming process (though not as large a footprint as traditional banking or gold mining!). While impressive, there are still some barriers to entry when NFT's are traded on Ethereum (ETH), the leading blockchain ecosystem for smart contracts.īlockchain is powerful as a public ledger because new data added goes through rigorous tests and confirmations from multitudes of devices on the network ensuring that no information can be corrupted. Where traditional NFT exchanges have succeeded in setting the standard for distribution of unique and limited supply products in a digital space where things can be replicated with relative ease. Saturna, a frictionless-yield token on Binance Smart Chain (BSC), has released an NFT Marketplace designed to provide users a streamlined experience in purchasing and trading these digital artworks. There are already 50,000 holders for a token that started in May, and a price of over $100M before the recent cryptocurrency market crash. NFT artists will be able to create, share, and trade their products allowing for finality and delivery of art to be safely transacted internationally and less barriers than ever. Saturna's platform runs on Binance Smart Chain which utilizes proof-of-stake meaning that the operations are less computing-intensive, making it much more environmentally friendly than its competitors. ![]() NEW YORK, NY / ACCESSWIRE / J/ One of the world's fastest-growing cryptocurrencies, Saturna combines the appeal of the "meme" token market similar to billion-dollar assets DOGE and SafeMoon and that of the burgeoning NFT market, ushering in a new generation of smart contracts for decentralized and digital commerce. ![]()
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