Introduction
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
Decentralized Finance
Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. Moreover, another main reasons why cryptocurrencies are more fashionable is because we know that traditional banks, as modern as they want to be, have an old-fashioned culture and mentality. Beyond the typical financial instruments, they have only evolved to provide some online services. Now, with the emergence of DeFi (decentralized finance), a world of financial instruments is opening up, accessible, open and without permissions for anyone with a cell phone or a computer connected to the Internet. It is a movement that takes advantage of decentralized networks to transform old financial products into transparent protocols that work without intermediaries.
For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
Moving on, the project I'm going to present you is BucksCake (https://buckscake.com), a decentralized financial platform for Staking, Yield Farming, Cloud Mining and Exchange.
Definition
In more detail, BucksCake (https://buckscake.com) is a decentralized funding platform that offers users the ability to earn money through Staking, Yield Farming and Cloud Mining on a single platform without the risk of losing funds.
Starting from the fact that the user is the main asset for the platform, the main goal of BucksCake is to offer its users a decentralized financial system offering blockchain based services, more transparent and economically viable, instead of the services traditionally provided by centralized institutions, which thing provides higher quality, security, transparency and in turn, ease of use of the platform.
How does it work?
The platform provides both, Staking and Yield Farming.
Staking:
The platform has designed an exclusive staking DApp, in which users will be able to obtain performance through different tokens such as ETH, USDT, DAI, USDC, WBTC, BNB(ERC20), as well as BKC itself. One thing to note is that the % return provided by BusckCake is fixed, unlike the other platforms, which start with a large % to attract users and then drops sharply. This ensures a certain long-term stability.
Yield farming:
BKC Farming allows earning rewards for providing liquidity in various liquidity pools. Users will receive guaranteed payments from Uniswap commissions. The amount of the reward depends on the number of tokens contributed to the pool liquidity.
Table of features
Bounty program
The project gives the opportunity to earn BKC tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_BucksCake), where you can access the link in order to see what are the conditions to become an early BucksCake contributor and start acquiring tokens.
For more information about the project, you can visit and read their WhitePaper available here (BucksCake_WP). You can also stay tuned in their official Telegram Channel (https://t.me/BucksCakeHub). I hope you liked the post and soon I'll send you new ones.
Token details
Symbol: BKC
Type: ERC-20
Total supply: 450,000 BKC
Roadmap
Q1 2021
- Creation of BKC Pre-sale
- Betting and farming Launch of the pool Trading Liquidity block liquidity Listing on exchange Launch of Cloud Mining.
Q2 2021
- Commercialization
- Audits
- ETH 2.0 Parking
- BKC Burndown and Buyback
Q3 2021
- Audits
- New partnerships
- E-commerce
- Agricultural expansion
Q4 2021
- Partners
- Marketing outreach Idea
- Project Product conception Research
- Audits
Social Media Links
Whitepaper: https://buckscake.com/whitepaper.pdf
Webpage: https://buckscake.com
Twitter: https://twitter.com/bucks_cake
Telegram: https://t.me/BucksCakeHub
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Author Details
Email: [email protected]
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum wallet: 0x91707502A8DFDC523f7a6f2c218cC9a52777d5ad
Bitcointalk Proof of Authentication link: https://bitcointalk.org/index.php?topic=5322052.msg56681997#msg56681997
