Tuesday, August 16, 2022

Iceberg launches hyper-deflationary Burn Protocol

The Takeaway:

The ICEBERG team released plans to burn more than 50% of the ICEBERG token supply in less than two months. In these opening weeks of the project, Iceberg has already seen greater than 20% of its total supply burned.

ICEBERG – hyper-deflationary, utility token, was fair-launched on the Binance Smart Chain December 20th. The newly launched Iceberg project is the first application utilizing the Iceberg Protocol – a smart contract design that brings together vesting and token burning. The function and purpose of these two fundamental mechanisms are hyper-deflation and price stabilization.

ICEBERG token is available on Pancake Swap, and Iceberg swap, the in-house exchange located on the official project website. Since launch in late December, the Iceberg team has published the contents of its Icepaper, roadmap, marketing plans, token metrics, and core team members. Co-founder and CEO Francesco Littiero is also team-leader of the first CAKE reflection token – BabyCake, multiple award-recipient for innovation and best DeFi project at globally-recognized DeFi events. The hard-working CEO has made strategic partnerships in an effort to expand the token network and ecosystem. One such partnership comes in the form of a multi-chain swap.

 

Innovative Iceberg Multi-chain Swap

The Iceberg web portal features a cross-chain swap built by strategic partner – Rubic. The dual-layer multi-chain swaps protocol by Rubic enables interoperability between several blockchain networks. The utility-innovation allows the purchase of ICEBERG, seamlessly exchanging from one of over 10,500 tokens from any of the 9 different blockchains which come together to make up the Rubic cross-chain swap apparatus.

The flexibility of multi-chain swapping gives traders the ease of purchasing ICEBERG from popular cryptocurrency blockchains like Ethereum, Polygon and Avalanche to name a few. The Iceberg team opted to include the cross-chain swap early on, in consideration of the anticipated continued development upon the blockchain technology. By having a bridge already in place, Iceberg intends to grow with the space.

 

Frequent BuyBacks and Burns

The team released plans to burn more than 50% of the ICEBERG token supply in less than two months. In these opening weeks of the project, Iceberg has already seen greater than 20% of its total supply burned. Those burns, not even half of what the team has in store, have been made up of transaction burns which send 1% of tokens to a buyback wallet, and supply burns from tokens auto-vested and sent to the utility: Smart Locker.

The iceberg protocol is dependent upon the smart locker, essentially a token vault, to which 50% of the initial supply was auto-vested for future scheduled burns. The protocol-utility itself has, built-in within its design, yet another mechanism. The Iceberg protocol-utility is available for use by other projects for a small fee, payable in ICEBERG, and later burned. This is the third burn mechanism present in the token’s ecosystem: a utility burn.

 

Influencers, Marketing and The Road Ahead

The team has been busy promoting this January. Iceberg has contests, giveaways and promotions planned over the next several weeks. Days ago, US-based entertainer, influencer and crypto-enthusiast Soulja Boy, took to Twitter, announcing a promotional partnership with Iceberg to over 5 million followers. The 5 day contest ended with one lucky winner receiving $5,000 in the trending retweet contest. The famous entertainer’s tweet reached just under 6,000 retweets in that time. The team also conducted a $500 giveaway in which 5 winners received $100 as the community celebrated a positive Techrate audit just last week!

The Iceberg team has a strong online community, as well as a Telegram channel for its well-represented Chinese investors. Coingecko and Coin Market Cap listings have been completed and accepted, and the team continues to plan future utility development. The fair-launch went well, but the team feels the Christmas holiday and current market conditions have given an extra challenge that they’re up for.  Updates to website content and project roadmap items are being made and will be published soon. With more aggressive marketing planned, partnership talks, and development underway, ICEBERG token expects to continue building positive momentum into this still early 2022. Follow the Iceberg journey and keep up to date with all project news and updates to come!

Telegram:  https://t.me/icebergprotocol

Twitter:  https://twitter.com/icebergprotocol

Reddit:    https://www.reddit.com/r/ICEBERGLABS/

Media Contact:

Bee Brown

beebrownwrites@gmail.com

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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