How ViralCoin Stands Strong in the Crypto Market
It is no secret that the cryptocurrency market is very volatile. The good thing about this is that investors can sometimes increase their profits rather easily a la Dogecoin or during a Bitcoin spike. The bad thing about this is that investors are constantly getting caught in the crosshairs of the market’s ups and downs.
Projects can crash as easily as they rise and this has discouraged many investors from participating at all. Then there is the risk of pump-and-dump schemes. Some scammers have taken advantage of the market’s volatile reputation to peddle shady ventures that crash as soon as they take off.
Now, ViralCoin, a promising new crypto project, has announced a new mechanism that will ensure that its investors can participate without the fear of shaky token prices and an uncertain financial situation.
How Does ViralCoin Work?
ViralCoin is a project that helps consumers pay their bills with cryptocurrency, creating dedicated links between its ViralWallet and merchant sites and making sure monthly debits can be made with ease.
The early stage of a crypto project is often one of the most volatile, and for many reasons. Some early adopters of the project, looking for quick returns, dump their token supply and this drives down the price of the asset. The market is also rife with pump-and-dump schemes at every turn.
But what about the investors who are in it for the long haul? What about those that want to tangibly invest in a project and not deal with endless dips and ‘to the moon’ phases? This is one of the upsides of ViraoCoin in that it intends to keep its token price stable during its minting phase.
The minting phase is usually one of the most chaotic times for a crypto project. This is because so many people want to quickly buy and sell their tokens and make a profit. But ViralCoin is insulating itself against this with the ViralCoin Vault contract.
This contract essentially means that the token supply of VIRAL is held in a liquidity pool in a VIRLA/USDC pairing. This pairing can be easily adjusted by the ViralCoin team to make sure that the price remains stable.
For example, if the circulating supply is too low and the token is overpriced, more are minted to stabilize it. The USDC tokens are then paired with VIRAL to further strengthen the liquidity pool.
Likewise, if the circulating supply is too high and the price risks dropping, tokens are bought back and this helps to keep the price stable.
In the event of the native token being stable, the purchasing tokens are paired with VIRAL to further strengthen the liquidity pool.
The result of this is that the price of the token is kept stable and early investors can buy at a consistent price. As the project itself develops, investors can watch their initial investments grow rather than fluctuate.
This will be done throughout the morning period to help early investors get in on ViralCoin in a non-volatile environment. Ultimately, this means that those who want to buy and use viralCoin can do so with peace of mind.
Even though the price is relatively stable, investors benefit from the 3% reflection that occurs on every transaction. Investors can focus on their VIRAL balance increasing rather than watching a token price fluctuate.
Standing Afloat
In a sea of projects promising a quick buck and no discernable value, ViralCoin is breaking the mold. By identifying and addressing the common problems associated with paying bills with crypto, ViralCoin is creating a new revolution for crypto use.
Also, by putting a structure in place to create price stability during its mint, ViralCoin investors can enjoy the best of the industry with no worries.
The post How ViralCoin Stands Strong in the Crypto Market appeared first on Blockonomi.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Oliver Dale, @Khareem Sudlow