BitNance Token X BeInCrypto AMA Session

During a recent AMA session, BeenCrypto spoke with Sceb, creator of the BitNance Token ($BTN), to discuss the exciting future of BitNance. In the year In 2017, Esseb shared his journey from investing in the first ICO, BNB, to creating BitNance, driven by his passion for decentralized technology.

BitNance Token is built on the Binance Smart Chain to solve common crypto problems like high fees and slow transactions. With only 10.5 million tokens, BitNance aims to provide users with a safe, fast and cheap alternative.

Sceb emphasized that BitNance is all about community. Holders of the token have the power to make decisions, ensuring true decentralization. With a clear roadmap and strong community support, BitNance is poised to make a big impact in the crypto world.

Let's see what interesting insights Sceb has to share about BitNance Token!

AMA session with Sceb of BitNance Token

BeInCrypto: What is your background in web3? And what made them create the BitNance token?

Skate:

My journey in Web 3 started a few years ago with their passion for transforming decentralized technologies and finance. In the year In 2017, in Asia, I heard and invested in the BNB ICO, my first foray into the world of cryptocurrency. In the year In 2018, I attended a conference where the founder of Binance, CZ, was the chief guest.

Although we didn't get to talk, the experience was very inspiring and reinforced my belief in the transformative power of blockchain technology. Since then I have been a strong supporter of Binance and BNB and have worked on various DeFi projects in the Ethereum Virtual Machine (EVM) ecosystem.

The creation of the BitNance Token ($BTN) stems from the desire to provide true decentralization on the Binance Smart Chain and address some of the industry's inefficiencies. Despite its revolutionary nature, Bitcoin struggles with high transaction fees and slow processing times, making it less practical for everyday use. Additionally, the market is flooded with “shitcoins” and insider-centric projects, leading to widespread mistrust.

BitNance aims to remedy these issues by offering a secure community-based token that offers low fees and fast transaction times thanks to the Binance Smart Chain. Our mission is to enable true decentralization and empower our communities with transparent governance. By addressing these critical pain points, BitNance is a sustainable and trusted alternative in the digital asset landscape, committed to making things right.

BIC: Can you highlight the key features that differentiate BitNance from other tokens?

Skate:

for sure! BitNance Token ($BTN) stands out with several unique “features”:

No Founder Token: We ensure true decentralization by not holding any token for the founders. Not like most crypto in 2024. Not even like Bitcoin. Power to Holders: Our governance model puts token holders in control, allowing them to make all important decisions. Secure and efficient transactions: Built on the Binance Smart Chain, BitNance offers secure, fast and low-cost transactions. Enhanced Security: Our smart contracts are audited and revoked prior to launch, ensuring they can't be tampered with, providing added trust and security. Scarcity: Offering only 10.5 million coins in total, BitNance is designed to be a valuable store of value. Fair distribution: $5.6 million BTN tokens are available for fundraising, 2.75 million for centralized exchanges, and the rest for initial liquidity. True Decentralization: After launch, I step out of the project, handing control over completely to the community and implementing a team of experts to ensure the smoothness of day-to-day operations. Transparent and community-focused: We prioritize transparency and actively engage with our community to grow BitNance to benefit all stakeholders. BitNance is a movement towards a truly decentralized and community-based future of finance that stands out in crypto.

BIC: What about ownership? How does your approach benefit token containers and the overall project?

Skate:

By holding zero tokens and abandoning the contract before launch, I ensure that BitNance is truly decentralized. This approach means that no central authority can manipulate the system, which creates confidence and security for all investors. It empowers the community to make all the decisions, which ensures that the project benefits everyone.

I am not doing this for profit; By 2024, I am committed to building the missing essentials. This strategy fosters active participation and innovation, aligning the success of the project with the needs of stakeholders and making BitNance a truly community-oriented project.

BIC: Why did you choose Binance Chain? What advantages does BitNance offer compared to other blockchains?

Skate:

I chose Binance Chain for BitNance because it offers fast transaction processing, minimal fees and strong security. Binance has a large, active ecosystem, providing a ready-made user base. Interoperability with other blockchains improves the BitNance service.

Additionally, Binance Chain's support and resources, including developer tools and trading, are invaluable. This choice also allows me to give back to the Binance ecosystem as BNB was my first ICO, and I have always admired what Binance has done for the crypto space.

BIC: What advantages does BitNance have over Binance Chain, especially in terms of transaction fees and leverage? How do the low fees on Binance Chain compare to other blockchains like Bitcoin?

Skate:

The benefits of BitNance's inclusion in the Binance Smart Chain (BSC) are numerous, especially when it comes to transaction fees and scalability. BSC is a high-performance blockchain designed to handle high-volume transactions at a much lower cost than blockchains like Bitcoin.

Transaction fees on Binance Smart Chain are a fraction of those on the Bitcoin network. Bitcoin's switching issues often lead to high transaction fees and slow confirmation times, especially during periods of high network activity. In contrast, the BSC architecture is optimized for high speed and low latency, enabling faster and cheaper transactions. This makes BitNance more accessible and practical for everyday use, as users can trade more often without worrying about high costs.

Moreover, Binance Smart Chain's integration with the Ethereum Virtual Machine (EVM) allows for easy migration of Ethereum-based projects to BSC. This will increase BitNance's potential user base and improve the overall functionality and utility of the ecosystem. And who doesn't want to save a few bucks on transaction fees? It's like getting spare change on your couch cushions, but more fun!

BIC: What is the total token supply of $BTN?

Skate:

BitNance Token ($BTN)'s total token supply is 10.5 million coins. This limited supply ensures that $BTN remains a rare and valuable asset supporting its role as a secure store of value.

BIC: Can you explain the reasoning behind choosing this particular supply limit?

Skate:

The total token supply of BitNance Token ($BTN) is capped at 10.5 million coins, and this limit will never increase. Several key factors influenced this decision. First, a limited supply creates a sense of scarcity like Bitcoin's 21 million capital, which can increase the value of $BTN.

In addition, by masking the supply, we control price inflation by preventing the creation of new tokens, which preserves the value of existing tokens and ensures that $BTN remains a reliable store of value.

This supply chain is aligned with the needs and wants of our community, ensuring long-term sustainability and growth. Given the demand for a secure and decentralized asset, a packaged supply can help maintain or increase the value of $BTN, making it a solid investment.

By setting the supply limit at 10.5 million tokens, we aim to create a sustainable, valuable and inflation-resistant cryptocurrency that meets the needs of our community and supports BitNance's long-term growth.

BIC: Why do you believe that store-valued assets, such as BitNance, will become more desirable as global inflation increases?

Skate:

Store-of-value assets such as BitNance Token ($BTN) are increasingly in demand as they help maintain purchasing power as inflation rises globally. Inflation lowers the value of traditional currencies, prompting investors to seek better assets. For example, gold has seen an increase in demand and price during periods of high inflation and economic uncertainty.

Bitcoin has also gained popularity as a digital store of value, with its scarcity and predictable supply making it a favorite against inflation (Global X ETFs). Recent global inflation, due to supply chain disruptions and the impact of geopolitical events such as the war in Ukraine, have raised consumer prices and created challenges for the International Monetary Fund (IMF).

Against these trends, BitNance offers secure storage value with a fixed supply of 10.5 million tokens. As inflation remains a concern, demand for assets that protect against inflation may continue to grow.

BIC: What steps have you taken to ensure BitNance's security and regulatory compliance? How do these steps contribute to the integrity and longevity of the project?

Skate:

To ensure BitNance's security and regulatory compliance, we have implemented several key measures that increase the integrity and longevity of our project. First, our smart contract is thoroughly audited by reputable third-party security firms before it goes live. This auditing process helps identify and fix potential vulnerabilities, ensuring the integrity and security of the token.

We also eliminate any central authority's ability to change or manipulate the smart contract prior to its launch. This step ensures that BitNance operates transparently and securely, increasing trust among our investors. While maintaining our commitment to DeFi principles, we ensure that our operations comply with relevant legal standards during the CEX listing.

Transparency is another cornerstone of our approach. We are in constant contact with our community and provide regular updates on project developments, building trust and encouraging active participation.

Focusing on these steps will ensure that BitNance remains secure, transparent and compliant, creating a solid foundation that will promote the project's longevity and build trust among investors and users.

BIC: What are your plans and roadmap for BitNance over the next few years? Can you share any future developments or partnerships with us?

Skate:

Our roadmap focuses on strategic growth, improved safety and community engagement over the next few years. Here's a detailed look at our plans:

Step 1: Launch and initial development

Smart Contract Launch and Security Audit: We launch our smart contract and ensure that it undergoes rigorous security audits by reputable third-party companies to identify and address vulnerabilities. Advertising Campaign and Initial Details: We will launch a comprehensive advertising campaign, including strategic partnerships with influencers, to increase awareness and attract a wider investor base. CoinGecko/CoinMarketCap Listings: Listing on these platforms increases visibility and attracts more users. 1000+ Holders: We aim to reach more than 690 holders soon from launch. Building a strong supportive and supportive community will be a priority.

Phase 2: Expansion and community building

Partnerships: We will form strategic partnerships to enhance the service and reach of BitNance. Guerrilla Marketing: Our marketing efforts will be broad and innovative, making BitEns visible everywhere. Exclusive Owner Content/Community Hangouts: To engage and reward owners, we offer exclusive content and organize community events. 2500+ Holders: A key milestone will increase our holder base to over 2500. CEX Listings: We maintain listings on major centralized exchanges to increase accessibility and liquidity.

Step 3: Advanced integration and development

Utility Partnerships: Partner with other platforms to improve BitNance's utility. Tier 1 Exchange Listings: Maintaining listings on top tier exchanges to further enhance liquidity and credibility. 10,000+ Holders: We aim to grow our community to over 10,000 holders. Flip USD: Our biggest goal is to surpass the value of USD and make BitNance the main store of value.

Step 4: Transition to full community management We will gradually move to a full community-based management model. This includes implementing an expert team to monitor operations and promote a democratic and transparent ecosystem for token holders to make all important decisions.

Step 5: Continuous Development and Strategic Partnership We will form strategic partnerships with other blockchain projects and financial institutions. These partnerships help us integrate new features and services, increasing the value of the entire BitNance ecosystem. A product can be reviewed and shared in the final stages of pre-sale.

Throughout these stages, we are committed to transparency, regular updates and active engagement with our community. By focusing on these strategic areas, we aim to build a robust, secure and innovative platform that meets the needs of our users and fosters long-term growth and success.

BIC: My favorite part: Questions from the community 🔥

@sooemerson: Can you elaborate on BitNance Token's 10.5 million supply distribution strategy and explain how 5.6 million tokens will be allocated to crowdfunding, 2.75 million to centralized exchanges and the remaining initial liquidity will benefit early investors?

Skate:

The distribution strategy of BitNance Token ($BTN) is carefully designed to support the development of the project and ensure the best results for early investors. Check out the strategy and its benefits in detail:

Total Supply: The total supply of BitNance Token is capped at 10.5 million tokens, ensuring scarcity and possible value appreciation over time.

1. Fundraising (5.6 million tokens): Allocating 5.6 million tokens for fundraising is necessary to raise capital and market BitNance. This seed capital will help build the infrastructure, secure partnerships and execute our overall marketing strategy. Early investors benefit from this allocation as it allows them to purchase tokens at a lower price initially, which can be appreciated as the project grows and gains more visibility. Additionally, any unsold tokens at the end of the presale will be burned. This decrease in supply may increase the value of the remaining tokens.

2. Centralized Exchanges (2.75 million tokens): Reserving 2.75 million tokens for the Central Exchange (CEX) will ensure that BitNons will have the funds needed to facilitate smooth trading. Listing on significant CEXs increases the token's reach and visibility, attracting more investors and traders. Early investors will benefit because the increased liquidity and visibility can increase demand and, consequently, the value of the token. Also, if the total amount of tokens allocated for liquidity is not used, the excess tokens will be burned, further reducing the supply and potentially increasing the value of the token.

3. First liquidation (2.15 million tokens): The remaining 2.15 million tokens are allocated for the first liquidation. This is critical to ensuring adequate liquidity of decentralized exchanges (DEX) from the start, allowing seamless transactions and reducing price volatility. For early investors, a highly liquid market means you can easily buy and sell tokens without experiencing significant slippage. This stability attracts new and existing investors, contributing to a healthy and vibrant business environment.

Benefits to Early Investors: Early investors will benefit greatly from this well thought out distribution strategy. By participating in the fundraising stage, you can earn tokens at a low entry price. As the project progresses and BitNance gets listed on major CEXs and maintains strong liquidity on DEXs, the demand for $BTN will likely increase, driving up its price. The combination of increased visibility, accessibility and stability makes BitNance an attractive investment, with potential value appreciation and a safe trading environment.

We implement measures such as burning unsold presale tokens and unused liquidity tokens to ensure a more favorable supply-demand balance. This strategic allocation ensures the successful launch and growth of BitNance and provides significant benefits to early investors, allowing them to benefit as the project gains rapid and widespread adoption.

BIC: @chuonzga: Does the governance model allow vehicles to be heard and influence the direction of the project, and what mechanisms are in place to facilitate this participation?

Skate:

The governance model of BitNance Token ($BTN) ensures that token holders have a significant impact on the direction of the project. This decentralized system is based on tokens held by voting power. The more $BTN a holder earns, the more influence they have on decision-making.

The model facilitates a transparent and scalable voting process using tools such as Snapshot.org. Any owner can propose changes, and the community votes on them. All administrative work, including proposals and election results, are officially recorded to maintain transparency.

Regular governance cycles allow for ongoing community input, making the system flexible and responsive. Active community forums and discussion forums support informed decision-making by creating debate and consensus before voting.

This structure ensures that BitNance Token governance is democratic, transparent and community-driven, empowering token holders to shape the future of the project.

BIC: @Gamemode619: Can you explain the significance of the low supply of BitNance Token (BTN) and its implications for scarcity and value?

Skate:

The low supply of the BitNance Token (BTN), which is limited to 10,500,000 tokens, creates a significant scarcity, increasing demand and price. This limited supply and strategic pooling and distribution of currency reserves ensure a balanced market, preventing oversaturation.

The scarcity undermines $BTN's appeal as a store of value, like Bitcoin, that encourages long-term holdings and reduces volatility. Additionally, the founders' determination to relinquish control and fuel liquidity will further boost investor confidence, making $BTN a compelling investment with strong growth potential.

BIC: @Zhaolong8888: What are the milestones outlined in the BitNance Token roadmap and how will they contribute to the overall growth and development of the $BTN ecosystem?

Skate:

The BitNance Token ($BTN) roadmap outlines four major milestones critical to the project's growth and development.

Advertising Campaign: After the launch, the roadmap includes an extensive advertising campaign to generate buzz and attract investors. This level leverages Guerrilla marketing strategies and partnerships with influencers to create a strong presence in the crypto community. These efforts are aimed at rapidly increasing awareness and interest in $BTN, driving initial demand and building a strong investor base. Exchange Listings: It is highly noteworthy that $BTN is listed on top cryptocurrency exchanges. Being listed on major exchanges increases liquidity, accessibility and visibility, making it easier for investors to buy, trade and hold $BTN. This step is crucial to improve the token's market presence and ensure it is available to a wide audience. Community Governance: As the project grows, $BTN will transition to a decentralized governance model. This level allows token holders to participate in decision-making through token weight voting, fostering a democratic and robust ecosystem. Community management ensures that the project evolves according to the users' needs and preferences, fostering trust and long-term engagement. Development of additional features: The roadmap simultaneously includes new features and enhancements to the $BTN ecosystem. This can include integrating new technologies, expanding use cases, and enhancing the overall user experience of the brand's competitiveness and appeal.

Each phase of the roadmap is designed to build on the previous one, creating a strong and dynamic ecosystem that fosters growth, stability and community engagement.

BIC: @EvissFord_BTC:$BTN is expected to 10x in value in a few months and could provide generous returns of 1,000% or more. What factors and market conditions support this bright forecast, and what risks should investors consider when investing in BitNance Token?

Skate:

BitNance Token ($BTN) is expected to increase in value by 10x within a few months and potentially generate returns of 1,000% or more. Several factors support this prediction:

Scarcity: With only a total of 10,500,000 tokens on offer, the limited supply of $BTN could drive demand and price higher as investor demand grows. Powerful Marketing: Using guerilla marketing and influencer partnerships will increase the visibility of $BTN and attract a large audience, generating high interest and demand.

Critical Risk: Investor Participation

The most important risk to $BTN growth is passive investor behavior. If too many investors adopt a “buy and wait” approach, the token's rapid growth potential may be stunted. Active participation, community engagement and support of marketing efforts are critical to driving the token's value and achieving the intended revenues.

Although these factors support bright forecasts, the market is free to decide, and this does not guarantee a 1,000% yield. It is a hypothetical scenario based on current market conditions and strategic plans.

Final thoughts

With BitNance Token ($BTN) set to launch, the future looks promising. Sceb's commitment to decentralized and community-based governance sets BitNance apart. By addressing common issues such as high transaction fees and slow processing times, and offering a limited supply of 10.5 million tokens, BitNance aims to provide both value and security to its users.

The emphasis on community participation ensures that every token holder has a voice, fostering trust and transparency. Whether you're a seasoned crypto enthusiast or new to the scene, BitNance offers an exciting opportunity to be a part of a truly decentralized financial future.