In the "Project Spotlight" series, I give a brief overview of interesting cryptocurrency projects I have come across which I think have great potential.
- This is not financial advice
- Any project can fail, even very good projects. That's the risk of investing. Invest with care.
Project Name:
InfinityDot
Key Point:
Reflection token on BSC network
Purpose/Objectives:
Generate passive income via token reflections
Token(s):
InfinityDot (IDOT), Polkadot (DOT)
Current Token Price:
IDOT - 0.00000001, DOT - 41.98
Features (Current and Future):
- Dividends: Percentage of every transaction is redistributed to all holders. Dividends are paid with BSC-pegged polkadot tokens
- Autopay: All earned rewards are automatically paid to your wallet. No need to manually claim your earnings.
- Buyback Mechanism: structure incorporates a buyback feature that will be used to maintain the price of the currency
Exchanges:
Pancakeswap
Project Links:
https://www.infinitydot.net/
My Thoughts:
This project is just 1 or 2 weeks old but is one project that got me intrigued because of the reflections. If you hold a certain amount of IDOT tokens, you get rewarded with polkadot tokens from every transaction (buy/sell) performed. The higher the volume of transactions, the faster your rewards accumulate.
The roadmap shows that an exchange, NFT collection and wallet are in the works.
In my opinion, this is a good project to get into early. The IDOT token has a lot of room for price growth, the polkadot rewards allow you to gain additional profit, and the buyback mechanism the team has in place is intended to keep the price of the token on an uptrend.
If the current price gain continues, you can easily recoup your investment within a few weeks, provided you get in early.
NB: Minimum amount required for token reflections is 200,000 IDOT but the larger the amount you hold, the better your rewards:
1bn IDOT currently generates about 0.33 usd in daily rewards.
This is not financial advice. Do your own research.
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