The Coinbite Token

- $BITE -

We have minted 1 Trillion Coinbite Tokens to the BEP-20 standard on the Binance Smart Chain (BSC).   

$BITE is designed as a 'deflationary' token.  This means that  there is a hard cap on its maximum supply and therefore, no additional tokens will enter the supply from mining, minting or other methods. The maximum supply is clearly detailed on the token page of BscScan above.  This supply will reduce however, as the $BITE token has a burn feature built in.  We will publish our Burn Policy which will be an annual event on Crypto Day.

Token Lifecycle

All cryptocurrencies begin their life when they're minted. That is, a special 'smart contract' has been published to the blockchain and it's characteristics - i.e, how the token's transactions occur, if and how taxes are treated, whether it is depleted (burned), over time etc.  This is referred to as  a crypto' Tokenomics.

The next stage for a cryptocurrency is to add liquidity (value), to the token. This is achieved through the creation of a liquidity pool on Pancakeswap - (a decentralized exchange native to BNB Chain).  This action sets the initial price/value of the token and it is at this point that early investors seek to jump into trades to maximise their returns.  This is because once the token's first transaction block is written, thousands of automated trading bots and apps kick into action to buy the token at the lowest price.  This initial demand pushes the price of the token up which can also create free marketing as the token may appear in league tables around the world on different exchanges.

Pre-selling (Pre-Sale), is a practice performed by some crypto projects ahead of an initial coin offering, in which tokens are sold to interested parties at a negotiated discounted price. This could be considered beneficial for both investors and the development team, if all was to go well and the digital currency was to be a success.

The Initial Coin Offering (ICO), refers to a formerly popular method of fundraising capital for early-stage cryptocurrency projects.  Think of ICOs as 'digital crowdfunding' as they enable startups not only to raise funds without giving up equity but also to establish a community of incentivised users who want the project to succeed so their presale tokens rise in value.

DYOR

It is absolutely crucial for you to 'DO YOUR OWN RESEARCH' whenever you are considering investing in cryptocurrencies.  Fortunately, due to the nature of blockchain all transactions are open for everyone to see and organisations like Etherscan have created powerful tools designed to help you understand all you need to regarding any particular crypto, regardless of what chain it is on.

This is a screenshot of the Coinbite Token on BscScan as of 03/04/2023. Notice the current holders at the bottom of the screen being only Company wallets as this is pre-token launch.

Exchange Listings

One of the main methods to get a newly launched cryptocurrency or token in the hands of as many people as possible is to get it listed on crypto exchanges, each selling thousands of cryptocurrencies around the world, 24/7.  The crypto market never closes! 

With our roadmap focussed on getting $BITE into as many peoples' wallets as possible, coupled with our marketing plans to airdrop holders, burn tokens and offer discounts and incentives to all holders, we are in a strong position to grow the value of the Coinbite Token.

Ultimately, once we get a project from incubation and sold to external VCs, all the value from that transaction goes straight into increasing it's value through a buy-back and burn policy.

Increased liquidity + Reducing circulation

= Increased token value