What is TITANO? What You Need To Know
What is TITANO? What You Need To Know
There are a few ways to earn from the cryptocurrencies you own, such as staking or yield farming.
However, with the latest advances in cryptocurrencies, you are now able to earn an APY, even without staking!
This is what the TITANO token offers, and here’s a guide that explains how this token works:
Disclaimer: The information in this article is provided for informational, educational, and entertainment purposes only, and does not constitute any financial advice.
Please do your own research before investing in any project!
What is TITANO?
TITANO is a token on the Binance Smart Chain that utilises the TITANO Auto-Staking Protocol. The aim of this token is to provide a high APY on the TITANO token without having to stake the token on the platform.
As an auto-staking cryptocurrency, all you’ll need to do is to buy the TITANO token and hold it in your wallet. You will be able to receive the rewards just by holding the coin in your wallet.
Titano uses a Positive Rebase formula, where extra TITANO tokens are distributed to your wallet every 30 minutes.
This rebase is backed by a Risk-Free Value, which is a part of the TITANO Auto-Staking Protocol (TAP).
What is the TITANO Auto-Staking Protocol (TAP)?
The main idea behind TITANO is the TITANO Auto-Staking Protocol (TAP), which involves different factors that determine the price of TITANO, as well as the rewards that you receive.
There are 3 main features of this TAP:
Buy and Sell Fees
Risk-Free Value
Treasury
Buy and Sell Fees
The main way that Titano is able to provide such a high yield is through their buy and sell fees.
Each time someone buys or sells the TITANO token on a platform, Titano collects some of it as fees.
Here is the breakdown of the percentages that go to Titano:
For example, if you sell 100 TITANO tokens, you will only receive the value of 82 TITANO tokens. The other 18 TITANO tokens will be allocated towards these 3 different areas.
The fees for selling TITANO is higher than buying, which will be advantageous when many people start to sell the TITANO token.
Risk-Free Value (RFV)
The Risk-Free Value is the main way that the rebase rewards will be paid out to TITANO holders. Whenever a trader buys or sells TITANO, part of the fees will go to the RFV.
These TITANO tokens will then be distributed every 30 minutes. You should see an increase in the TITANO tokens that you hold in your Krystal wallet.
What if the RFV is less than the total amount that Titano is supposed to pay out for the yield? This is where the Treasury comes in.
Treasury
The Treasury is another place where the trading fees will be allocated to. This is like the reserve of the entire project, and the funds are used for 3 functions:
Funds the distribution tokens for TITANO holders if the rebase rewards to be redistributed is greater than the RFV
Fund new products, services and projects
Provide funds for marketing purposes
The number of fees that are allocated to the Treasury is higher if a trader sells TITANO (8%), compared to a trader buying TITANO tokens.
This makes TITANO rather self-sustainable
With this TAP model that Titano uses, it seems that Titano will be able to sustain itself, mainly via traders buying and selling TITANO tokens.
If we look at the trading volume of TITANO on CoinGecko, it can range around a few million USD.
This means that the project itself will earn some significant revenue, solely from these trades!
However, there may be a concern when the TITANO token is no longer being traded as much, as this will reduce the amount of TITANO tokens the project will receive as revenue.
If the RFV is less than the rebase rewards that is supposed to be distributed, the project will have to dip into the treasury to pay out the rewards.
Once this keeps happening, there may be a time when the treasury runs out, and Titano won’t be able to pay you such a high reward.
As such, this is something you may want to consider if you’re invested in this project!
What other features does TITANO have?
Titano introduced the TITANO PLAY feature, which works like a lottery. TITANO PLAY gives you the opportunity to earn even more TITANO tokens compared to the staking rewards.
How this works is that you and other TITANO holders will deposit tokens into a pool, where you have a chance of being one of the 10 winners who wins a large prize of TITANO tokens.
The more TITANO you enter into the pool, the higher the chances of winning the prize.
When you deposit TITANO into PLAY, you will not receive the 102,483.58% APY. Instead, you will receive an APY that depends on the number of TITANO tokens that have been deposited into the pool in total.
Is TITANO safe?
The TITANO smart contract was audited by Solidity Finance in November 2021, and found that there were no external threats being identified. However, TITANO PLAY was hacked in Feburary 2022, which was suspected to be a third party attack.
The hacks that occur in decentralised finance (DeFi) projects is a risk that you’ll need to be aware of before investing in such projects.
Another thing that you may want to consider is that the identities of the developers have not been made public yet.
Nevertheless, the developers have hosted 2 AMAs on their YouTube channel, where they talk about their project and the roadmap that they have in store.
If you prefer to invest in a project where the identities of the developers are known, this project may not be for you!
How do I buy TITANO on Krystal?
Here’s are the steps to buy TITANO on Krystal:
Switch to the Binance Smart Chain
Make sure you have BNB in your wallet
Add TITANO as a custom token on Krystal
Swap a token for TITANO on Krystal
#1 Switch to the Binance Smart Chain
TITANO is a token that is native to the Binance Smart Chain, so you will have to switch to this network first.
Apart from the Binance Smart Chain, Krystal supports 5 other blockchains including Ethererum, Polygon, Avalanche, Fantom and Cronos.
#2 Make sure you have BNB in your wallet
To process transactions on the Binance Smart Chain, you will need to have some BNB in your wallet that is connected to Krystal.
It may be good to leave around 0.03 BNB if you are looking to make multiple swaps.
#3 Add TITANO as a custom token on Krystal
The next step will be to add TITANO as a custom token on Krystal.
You can go to the main page on TITANO finance, and scroll down until you see the contract address.
Alternatively, you can copy the contract address from CoinMarketCap.
Once you have the address, you can go to ‘Settings → Add Custom Token’ on the Krystal app or desktop.
You will need to paste the contract address, and Krystal will automatically detect it to be the TITANO token.
#4 Swap a token for TITANO on Krystal
Once you have added TITANO, you can now trade other tokens for the TITANO token.
You can go to the Swap function on Krystal to make the trade.
You will be using Krystal’s SmartSwap, which helps you to get the best rates with minimum slippage.
TITANO mentions that you may need to set the slippage to at least 13% for the transaction to go through.
To do this, you will need to go to the ‘Gear’ icon,
and manually set the slippage rate.
Once this goes through, you should be able to receive TITANO tokens in your wallet connected with Krystal.
This will allow you to start earning the staking rewards right away!
Conclusion
Titano is an interesting project that is definitely worth looking into. Nevertheless, it is an extremely high-risk play, but it may be worth putting in some money and seeing how it turns out!
As with any investment, please practice extreme caution and do not invest in anything more than you can afford to lose!
Start your DeFi journey with Krystal
Krystal is a non-custodial multi-chain platform that simplifies access to popular decentralised finance (DeFi) services and portfolio management (including NFTs).
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Don’t have a wallet with Krystal yet? You can either create or import a wallet with the referral code ‘KRYSTAL’ to earn referral rewards as you trade!
