Announcing bTRI: Expanding The Liquidity Web to Binance Smart Chain
“Fix Gas Fees!”
It is no secret that Ethereum has been rampant in the last month, surging towards new all time highs and processing ever-increasing volumes of transactions.
This is both a blessing and a curse for Trinity.
On the one hand, the rapid expansion of Ethereum is a predictable and necessary prerequisite for the mass-adoption of DeFi products, and is bullish for the crypto sector in general.
On the other, periods of high gas are punitive to both buyers and sellers — proving particularly problematic to start-up projects that rely on volume such as Trinity.
This is an issue which has been consistently flagged within the TRI community. The question is how do we continue to strive towards our liquidity generation goals and expand our partner ecosystem during periods of high gas?
Indeed, gas fees will remain a pertinent issue to all DeFi projects until such a time as ETH 2.0, or sophisticated layer 2 solutions, is live on mainnet.
Rather than sit on our hands during periods of high gas, we at Trinity have been working on our first expansion to the Trinity ethereum ecosystem by expanding the liquidity web to Binance Smart Chain.
Why Binance Smart Chain?
BSC’s low-gas environment enables high volume, compounding strategies which are not possible on Ethereum.
As well as offering an alternative source of transactional volume, the Trinity team recognises the need to integrate DeFi products with influential chains seeking to compete with and complement Ethereum. The team will therefore look to bring the Trinity protocol to further chains as and when they release their respective mainnets.
We will continue driving the project forward on ETH and have additional partnerships to announce this week.
What is bTRI?
For those who are new to the project — in short, Trinity is a novel protocol that combines the unique mechanisms of several recently successful DeFi projects:
- Auto liquidity generation
- Frictionless yield generation
- Automated buybacks and token burns
Not only do these mechanisms work synergistically to automatically build liquidity, transactional volume, and yield, they provide the TRI token a real-world use case as a “liquidity bridge” for fledgling DeFi projects.
Trinity offers huge potential benefits towards the BSC ecosystem via our ‘Whitelisting’ function, which can build liquidity on pairs other than bTRI/BNB.
For a more detailed breakdown, we suggest reading our ELIS: What Is Trinity article.
Airdrop For Tower Holders
2.5% of the bTRI supply (250,000 bTRI) will be airdropped to current Trinity Tower holders (wallets with 100,000 TRI or more).
A random snapshot will be taken between 1/6/2021 and 1/7/2021 and all who qualify will receive bTRI airdropped to their existing wallets on the BSC network.
How do I set up a BSC wallet?
We recognise that, for much of our community, this will be the first time using a web3 wallet set up for BSC.
We recommend using a fresh wallet and following Binance’s official documentation to connect your wallet of choice to BSC and set it up for trading:
- Total bTRI supply: 10,000,000
- Liquidity Treasury (locked forever): 500,000 (5%)
- DAO Treasury: 1,500,000 (1M allocated for liquidity mining program) (15%)
- Team: 500,000 (locked for 1 month — 5%)
- Marketing: 250,000 (2.5%)
- Airdrop to current ERC-20 Tower holders: 250,000 (2.5%)
- Initial Pancake Swap Liquidity (7,000,000 bTRI / 450 BNB)
While setting up the contracts and liquidity pool, we made the mistake of adding 700k liquidity instead of 7M.
Since some people found the contract early and started buying, we decided to roll with it and just burn all remaining tokens by a factor of 10 to bring the total supply to 1.5 Million and circulating supply to 1 million.
The only tokens unburned are the liquidity treasury wallet which are locked forever and will generate yield for liquidity providers.
While isn’t ideal we decided it was better than removing liquidity (ie rug the project).
Trinity Website: https://www.trinityprotocol.io
Inner Tribe Telegram Group (for hodlers of 25,000 $TRI or more): https://telegram.me/collablandbot?start=reclvL99AX9G7VWpM_-tpc