• V

    Valte

    DeFying Gravity: Pitbull Community  — Auto-Staking Meme Token

    Pitbull Community Review

    Another stop in our DeFying Gravity crypto journey on discovering the new projects and opportunities is taken by Pitbull Community — a meme token dedicated to the dogs and the community. It has already demonstrated how to achieve recognition and utility by giving rulership to the people and aims to do much more. Dig into the project with us and don't miss the token that may outperform its competitors.

    What is Pitbull Community?

    Pitbull is a community-driven auto-staking token built on Binance Smart Chain. Its ownership was renounced from the first day of launch and over half of the Liquidity Pool was burnt and given to the community. It is a meme dog token but compared to numerous upcoming projects it offers many use cases. 

    The project was launched on 17 March 2021 and since then Pitbull has gotten serious community recognition and has undergone several development stages. Pitbull Community was audited by TechRate and no signs of security issues were found. 

    The project is run by a team of volunteers. Pitbull Community was released by so-called “fair launch” without a presale or ICO. The development team is always changing with the new talents and professionals taking part in the development. Moreover, the community members are regularly voting for the next development steps. For example, the community decides which exchanges to focus on for listings, which shelters should be the funds donated to, which logo is going to be used for the project, and even how the revenue is going to be redistributed. 

    Half of the initial supply was burnt to the dead address, the contract can not be modified and no one has access to it, thus making Pitbull Community completely decentralized by continuously engaging more users that make the project grow daily. Additionally, no one is able to pull the token's liquidity granting exceptional security of the asset.

    Since the day of launch, the project has attracted many professionals in the fields of design, content creation, marketing, big data and social media. For the developers, Pitbull became a real social experiment as they got engaged with the project as both users and creators.

    Products of Pitbull Community 

    Since the very first days of the launch more projects on Pitbull started to emerge. Just in 2 months, the project released the beta-version of PitTracker — the tool allowing investors to keep an eye on their portfolio changes. 

    Almost at the same time, PitCharts beta — analytical tool for BSC tokens also came out. Its full version will generate income from advertising and premium features requiring the usage of PIT token that is supposed to boost the burn and project funding. 

    Another use case of the token is PitFarm (beta) — a platform that allows users to stake PIT-BNB for points to get the official NFTs of the Pitbull Community. The non-fungible tokens also can be bought and then traded on the marketplace. The minting fee will go to the community fund, to the artists, for the development and to the charities as it’s one of the most important goals of the project. A portion of the received tokens is also to be burnt. 

    Pitbull Community also presented an Automated Market Maker that will help investors who just started with crypto and are interested in investing in PIT. This specific tool is planned to be transformed into the whole ecosystem that will have a token co-beneficial with PIT. This token will be used for staking, farming, routing, and earning the fees for the development and also for burning more tokens. 

    PIT store will sell native Pitbull merch for US dollars and in the future for PIT tokens. The store will help to build brand awareness and profits will go towards project development.

    At the moment of publishing the team is working on additional projects, including PitStop — a space where all of the PIT tools will be connected. The users will be able to log in with their wallets and use it as a social network. 

    PitFund will organize fundraisings in PIT tokens for the project’s needs and also for helping dogs in need across the world. There will be a small fee for every donation that will go to the Pitbull community fund wallet.

    And on top of everything the team carries the plan of creating PitGames — a website section that will allow users to play various games. In addition, Metaverse creation is planned in the future.

    Pitbull Tokenomics

    PIT token has a total supply of 100 quadrillions. 50% of the total supply is burnt to the black hole and this number increases with every transaction, as 2% is burnt as a fee. At the time of writing 52,9% of the total supply was burnt.

    2% of every transaction is being redistributed to the holders, allowing them to earn by holding without staking, trading or farming. This feature is called unique and new in the WhitePaper, and even though we have already seen many other tokens offering this opportunity, at the time of Pitbull Community release, the trend for hold-to-earn was emerging. 

    This also means that every holder is financially interested to spread awareness of the project. With the wider recognition and increase in the number of holders, the income of PIT token holders will grow.

    There is also a 2% tax applied on every sale that’s being added to Liquidity Pool by locked forever smart-contract.

    Moreover, the income received from selling the NFTs is redistributed to the advantage of the project and its users. For instance:

    • 15% goes to marketing;
    • 60% is allocated to the PIT Liquidity Pool;
    • 15% goes to shelter donations;
    • 10% goes for the project design and minting.

    Some limits exist in the ecosystem to protect the community. For example, a single transaction amount is limited to 500 trillion PIT.

    Development Milestones 

    At the moment of publishing, the project has undergone three first development stages and is finally approaching a set of more serious goals that will push the token to new heights. 

    Pitbull Community has already introduced the website branding and the asset got listed on price index websites. PIT token has also gotten its native wallet. Pitbull Community has already raised funds for several dog shelters around the globe.

    PIT is an official donation token for Kennel to Couch organization that is saving Pitbulls. An automatic tool that will redistribute part of the revenue from selling NFTs and merch to Kennel to Couch is planned in the development. 

    On the marketing side of things, the team is collaborating with many crypto influencers and Youtubers to boost social presence and recognition. According to the recent update in the official Twitter, PIT token is now among TOP-10 meme tokens by the social activity.

    The asset has been already listed on numerous exchanges and platforms, including LunarCrush, Hotbit, CoinTiger, WhiteBit and more. The current development stage incorporates plans for listings on major exchanges. The next step which will supposedly cause the project to be taken even more seriously is the governance token that will literally hand the development to the community. 

    Future of the Project 

    It hasn't been a year since the launch date, but Pitbull Community shows ambitions to stay on the crypto market for as long as it goes. The creators really did their best to offer a token with a bright future based on the topics that are being highly hyped up in the crypto community. 

    For instance, soon we are going to be introduced to the PIT Merch and PIT NFTs that are meant to support the shelters instead of just bringing the profit to the holders. New play-to-earn games will also allow the users to make money with the option to keep them or donate to the animal shelters. 

    Pitbull Community is steadily approaching a goal of 500 000 holders.

    Hard work didn’t go unnoticed and the project has already seen a lot of support on social media. Users get attracted by the fair and clear concept, possibility to earn, and also the quite promising frequently updated roadmap. 

    Even though PIT price still gets affected by Bitcoin and the whole crypto market tendencies, we can expect the asset to go up with time. With the significant amount of work being done on the project, it’s unlikely that it will disappear from the radars any time soon. 

     

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

    SHARE