Cryptocurrency has been on a steady climb over the last couple of years. Today, early investors share their success stories in the industry, while those who didn’t believe in digital currency earlier are scrambling to get a piece of the action. Consequently, this space has seen the introduction of numerous cryptocurrencies in the market. Particularly noteworthy among them is $CBD Coin, one of the most talked about coins in the space.
$CBD Coin is the world’s first coin that donates CBD products to the less fortunate. At launch, 60% of $CBD Coin’s tokens were burned. This left 2 billion tokens in circulation. According to $CBD Coin stats, every coin has an 8% transaction tax, whether it is purchased or sold. This tax is divided into four parts of 2% each, for LP, back to the holders, marketing, and charity funds.
Cloud mining has made it possible for investors to mine without needing expensive hardware. However, the industry is now clouded by scammers selling the rags-to-riches narrative to unsuspecting buyers and investors. Granted, many people have turned their lives around as a result of cryptocurrencies. Yet, it is essential to tread carefully to avoid falling prey to scammers.
Pump-and-dump schemes have also become more prevalent. These are fraudulent price manipulations that are carried out by spreading misinformation. While this is not a new practice, it is negatively affecting the cryptocurrency industry. $CBD Coin is working hard to ensure that unauthorized dumping is eliminated from its trade to combat this.
According to $CBD Coin’s anti-dumping initiative, the token rules ensure that unauthorized dumping is limited and that the coin will persist for a long time. Intending to shape the industry’s future, $CBD Coin’s tokenomics lock the founder and pre-sales tokens. These can be unlocked only at a rate of 10% per week.
$CBD Coin is also implementing a 1% transaction cap to add to its efforts of curtailing pumping and dumping. Since the cryptocurrency industry is largely unregulated, it is up to creators to make rules that fight against pump-and-dump schemes. The brains behind $CBD Coin say that the effort to limit dumping ensures short-lived inflations do not cause a disadvantage to retail investors.“We are not here for the short haul. We are not here to please a few whales. We are here to stay and change the way the CBD industry operates.”
The post Here’s what $CBD Coin is doing to limit unauthorized dumping appeared first on The Village Voice.
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