GIBXSwap was established based on the digital asset exchange GIBXChange. GIBXChange is an international integrated Internet brokerage company under the GIB Global Investment Digital Bank and Capital Trust Group. It is a subsidiary of the AFF Multi Finance Group and is an international integrated digital asset exchange and LP traffic provider under the GIB Digital Bank.
To ensure that the value of GUSDT continues to grow over time, GIBXChange has established a Proof-Of-Burn model that burns a certain percentage of coins sold through its exchange. This model helps to create value, which helps the price point of the coin keep growing. It not only makes the symbolic price rise every hour but also protects it from market fluctuations.
What is Proof Of Burn / POB?
Proof of burning is a method of investing in a brand-new cryptocurrency: to obtain a new currency, you must “burn” (destroy) another currency, such as Bitcoin, Ethereum, or GUSDT. Theoretically, this will make each new cryptocurrency equal to the value of the destroyed coin, but in fact, you cannot destroy the cryptocurrency. The system requires you to send it to a place that will reduce its total supply. For example, black holes!
What exactly is token destruction? Why destroy tokens? Where do the coins go after they are destroyed?
Coin Burning is the permanent removal of tokens from circulation. In other words, the destroyed tokens are equivalent to being permanently frozen and can no longer flow into the market.
Therefore, how to achieve token destruction? The most common method is to send tokens into black hole addresses. A blackhole address (Eater Address) refers to the address where the private key is lost or cannot be determined. These addresses are like black holes. They can only enter and cannot be exported. Any token that hits the black hole address cannot be transferred out and enter the market.
1BitcoinEaterAddressDontSendf59kuE
0x0000000000000000000000000000000000000000
The following are the more famous Bitcoin and Ethereum black hole addresses:
1BitcoinEaterAddressDontSendf59kuE
0x0000000000000000000000000000000000000000
About 13.2 BTC in the Bitcoin black hole address mentioned above, and about 7780 ETH in the Ethereum black hole address.
The most remarkable thing worldwide is that the crypto company will launch a new decentralized currency, “X.” The new currency will be the core token of the GIBXSwap platform, which can be used for voting, repurchasing, fundraising, trading, and earning coins. The emergence of “X” is mainly due to the gradual increase in the circulation of the original GUSDT™️ market. The market value urgently needs a larger carrier to achieve breakthrough growth; the market needs new currency to stimulate. The maximum supply of “X” is 1 billion, and the block reward: each block rewards 20 Xs. Open source code is audited by professional organizations such as Ernst & Young and Deloitte, which are safe and secure. At the same time, X will support the decentralized cross-chain transaction protocol of BSC, HECO, and ETH, using “dual mining incentives through liquidity mining and transaction mining,” which can enable participants to obtain maximum returns and seamlessly integrate with Binance and Huobi’s massive global traffic and head resources.
The digital asset industry is developing very rapidly, and it is changing with each passing day. Many technological innovations and changes always come inadvertently. It is believed that GIBXSwap’s disruptive pioneering work can find a breakthrough in the market, reconstruct the traditional financial order, and eventually become the first product to enter the next era of blockchain and become a dark horse project that stands out in 2021.