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According to CoinMarketCap, Bitrue, a top 50 cryptocurrency exchange, has recently launched an investment management project that combines the three instruments of staking, yield cultivation, and quantitative trading.
The project is being launched in conjunction with the introduction of a new asset management token, BMAX. This will be distinct from Bitrue Coin (BTR), where BMAX will be distributed initially via airdrop to BTR holders. Repurchases will occur at least three times per quarter, with other dividends paid only through Yield Farming pools in the future. The token is entirely community-owned, and neither the team nor the investors receive any allocation.
If BTR is the control token, then BMAX is the reward token. Despite the distinction, the two are still inextricably linked. BTR, for example, will define the BMAX token’s control.
It’s a nice stock market project, and today I had an exclusive interview with Adam O’Neill, Bitrue’s Chief Marketing Officer, where we talked about BTR, BMAX, and much more.
Judy: You mentioned in your announcement that “by using BMAX as a reward token, we will eliminate the problems that currently exist in effort and DeFi reward programs, such as the risks of theft” – could you please elaborate on this?
Adam O’Neill: Existing DeFi protocols typically rely on synthetic assets, which investors must manually reinvest.
For the most part, this means that users must transfer money from one platform to another, which can be risky because it opens up many doors for potential fraudsters and hijackers. There have been numerous instances of bogus websites and carpet pulls in the past.
This is not possible with BMAX because investments are completely automated within the Bitrue platform.
Judy: Why did you feel the need to drop BMAX? Did you consider offering the same benefits, such as rewards, through the existing BTR token?
Adam O’Neill: Indeed, BTR was previously the reward symbol for the majority of the yield farms on our platform – and yes, we have considered bringing this asset management mechanism to BTR instead. However, after careful consideration, we decided that we wanted BTR to be deflationary, so we would limit its circulation.
Judy: As a result of the BMAX token’s release, BTR will no longer be distributed frequently in return pools. This will most likely have an impact on the circulating supply, but do you anticipate any other consequences?
Adam O’Neill: Yes, as there are fewer BTR in circulation, the price will gradually rise, as it is still Bitru’s control token. The BTR token gains no benefit from the introduction of BMAX because users will continue to use it to vote and trade and its redesigned deflationary mechanism will make it much more valuable.
Judy: The crypto market has struggled this year, but BTR has done better than most. In fact, BTR is close to 50% YTD – what are the reasons for this?
Adam O’Neill: In comparison to its peers, BTR is a CEX token that is undervalued. Bitrue, you see, is a stock exchange that is constantly innovating in order to be the best place for trading and investing. Given the number of trading pairs that have recently been listed on our stock exchange on a daily basis, as well as new feature upgrades from time to time, we believe that the crypto community is finally beginning to recognize the long-term potential that we offer here at Bitrue.
Judy: What are the primary reasons people prefer Bitrue over competitors, in your opinion?
Adam O’Neill: To begin with, despite the fact that Bitrue is one of the industry’s major players, our stock market still has a lot of room to grow in comparison to other stock markets. Bitrue’s team is small in comparison to our competitors, but each of our employees feels a sense of belonging here.
Unlike many other companies, where employees are motivated solely by their paycheck, Bitrue employees are motivated by the opportunity to contribute to the crypto community. This is also reflected in our actions, as we are eager to receive feedback from the public and use it to improve our products.
Aside from core values, Bitrue currently provides one of the highest APYs for our yield farms, with many of them exceeding 100%. We also have one of the most extensive collections of supported tokens, which includes everything from meme tokens to blue-chip Altcoins.
Judy: How do you think Bitrue would fare in a long-running crypto bear market?
Adam O’Neill: Actually, Bitrue was first launched during a bear market as early as 2018. When it comes to business strategy and expansion, we proceed cautiously, which means that we can reduce the risks of a bear market. We know very well that a bear market will happen from time to time, so we have been very strict with our accounting. In fact, we would like to identify ourselves as cautious compared to our competitors.
Judy: The latest inflation figures from the United States and Europe are shocking. Do you believe Bitcoin (or crypto) can be used as a protection against this, or are you skeptical of the inflation hedging story?
Adam O’Neill: Bitcoin was always intended to be the ultimate inflation hedge: unlike fiat currencies, its supply is extremely limited. Regardless, BTC can only exist as part of a larger crypto ecosystem in which other Altcoins serve as utility currencies.
Because the market is so new, speculation thrives, causing Crypto to behave similarly to risky assets like equities. It will take some time for cryptocurrency to truly reflect its intrinsic value. Given the current geopolitical situation, I believe the time is approaching quickly. At the moment, refugees fleeing war-torn countries prefer crypto to local currencies as a store of value.
Judy: According to the Litepaper, automatic reinvestments will, of course, cover the opportunity cost that most investors are concerned about, reducing the risk of permanent loss. Could you please explain in more detail how this risk has been mitigated?
Adam O’Neill: It is undeniable that liquidity can result in long-term losses for users. If such losses occur on our Yield Hub, the gains from other investment instruments will serve as a hedge to compensate for these losses. In essence, BMAX allows investors to create a fully hedged portfolio that can withstand losses from a single investment instrument.
Judy: Thank you Adam, for the time you spent with me in the interview and for providing our readers with more information about Bitrue.
Adam O’Neill: Thank you, Judy.
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