$Fire Token and updates

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Build a man a fire, and he'll be warm for a day.
Set a man on fire, and he'll be warm for the rest of his life."

- Incinerate protocol developer

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Last night I saw my Fire holds went up to the moon. And I was like wow. This is crazy. And today I am giving you some of the reason why did I invest on Fire. Why it amazed me and what is the good news about it. But please don't see this as a financial investment advice. Always, always check and verify. I don't want to get blamed for anything related to investing. 👀

All I can say is this is the $Fire I am willing to get burned into. Haha. 😅

What is Fire?

Fire is the governance token of incinerate protocol and is designed as a deflationary token. It is the first ever deflationary token in smartbch.

Deflationary token means a percentage of token is getting burned depending on the design of the token. It only means that the circulating supply in the market is getting less and less and less, making it more scarce and pricy.

The design of Fire is to get a portion(tax) in every transaction whenever someone is interacting with the smart contracts, be it buy, sell, providing liquidity, removing liquidity. Any tx made.

So how does the tax works?

A 5% tax is being deducted to every transaction and distributed as follows

• 3% would be distributed among holders + the burned address. Developer, LP addy and marketing wallet is not included.

• 2% would be added in the liquidity pool for market availability.

Current supply status;

Source: Incinerate.cash

Why did I invest in Fire?

To be honest, I am only attracted to fire because of the presale distribution. If you invest on presale you'll automatically get 1.6× of your initial investment and that is why I participate on presale.

I only invested about 0.2bch on the presale and got 20+ Million fire and then get my initial investment back by selling 15Mil Fire or 0.2bch after the launch.

And now I am currently sitting with the remaining fire on my wallet. And I am happy with it tho it would have been nice if I did not sold any and just held onto it upto this date. Haha. But nevertheless I could go to sleep and sound not worrying about the price.

Just a day ago my fire was just 5.17Mil or .2bch and last night the price went up and it reaches 5.19Mil and is now equivalent to 0.41bch.

I totally didn't spent anything here because I already got my initial investment so it is already a profit but I have been holding this since the presale. Diamond hands.

Below is the screenshot of my Fire where ai monitor it in coingecko.

In just a matter of 24hrs it soar high up to 65%. I guess people are aping in.

Also another thing I like about Fire is that the developer only holds 5% of the total supply, unlike other tokens! I like the firetokenomics as it is simple, less allocation for devs and marketing.

Firetokenomics

• LP = 30%

• Presale = 48%

• Devs = 5%

• Marketing 5%

• BPAD = 2%

• Burned addy = 10%

Why there is a sudden price surge?

Last year the developer of fire has been constantly announcing an additional usecase that will benefit fire holder. And last night he already made a clear announcement on medium, twitter, telegram group and discord.

Screenshot of the update below:

Source : Meduim

Apparently the developer of Incinerate protocol will launched its own decentralized exchange. There won't be any presale and such but will only giveaway ember token to Fire holders.

And just like that people started buying in. 😅

Was it already late to invest on fire? Well we never actually know! But always be cautious with your investment!

Moreover, If you want to be updated on their next updates or if you want to know more about Fire/Emberswap join in their social media networks.

• Discord

• Twitter

• Meduim

• Telegram

• Website

Disclaimer

I am not affiliated with the developer nor this article has anything to do with them. And nothing that is written here shall be taken as a financial advice. Rawr.

Also I am about to share you one of my hot memes.

Well I bought on presale and still holding a portion of it! Hahaha. Kek!

Thank you for reaching this far! This article was just a proof that smartbch defi space is really a good place to start investing in! And as I always, always, want to remind you, invest only what makes you sleeps better at night. 😅

Because there are nights where I would wake up checking if my tokens are down or has not been rugged. 😅😅

Breaks my sanity af.

Also, if you haven't come across my recent articles you might wanna check it out,

1. Create your smartbch token portfolio on coingecko

2. My smartbch investing strategies