CryptoNakal: Nebula Protocol - Binance Smart Chain based project using decentralized finance

Decentralized Finance

Blockchain and Smart Contracts open many doors to new, decentralized businesses and eliminate the need for expensive third parties. Many new companies are currently working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. Apart from that, another major reason why cryptocurrencies are more fashionable is because we know that traditional banks, as modern as they want them to be, have an ancient culture and mentality. Beyond ordinary financial instruments, they have only evolved to provide a few online services. Now, with the advent of DeFi (decentralized finance), the world of financial instruments is open, accessible, open and without permission for anyone with a mobile phone or computer connected to the Internet.

Therefore, many projects have started using this new technology. However, not all of them are worth it. We should carefully read what each project is dedicated to, what is the whitepaper, qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups into launching their own cryptocurrency even without convincing fundamentals. This trend arises because newcomers are more agile in adopting emerging technologies than incumbents who are hampered by the old system. However, the competitiveness and advantages enjoyed by these new players may be short-lived, as no economies of scale are taken into account.

Next, the project I'm going to present to you is Nebula Protocol (https://nebulaprotocol.org/), a Binance Smart Chain based project that uses decentralized finance.

Definition

In more detail, Nebula Protocol (https://nebulaprotocol.org/) is a community-based DeFi Token launched at the event that offers three functions during each exchange: Reflection, LP Acquisition and Burning.

Let's take a closer look at what each of these functions entail:

Reflection: A purchase, sale or transfer is subject to a 2% fee, which goes directly to each user who holds their token, proportional to their holdings in relation to the total subminister.

LP Acquisition: Every purchase/sale goes through 6% automatic liquidity generation to maintain passive yield and provide balance and stability to the token. The idea is that the token becomes a locked liquidity token and remains permanently as an LP.

Burn: the platform collects 2% of the fee on each transaction. This allows supply to decline with higher trading volume, which causes more scarcity and buying pressure into the ecosystem.

Focusing on its performance aggregators and the NFT market, SafeNebula aims to create, that said, a very mysterious fuzzy astronomical object by becoming a new protocol that adds features to existing DeFi systems.

How does it work?

The Nebula token is community driven. First, the initial liquidity is provided by the team on a blockchain basis for half a year. Meanwhile, every transaction made, be it buying, selling, staking, etc., automatically generates liquidity in the Pancakeswap Liquidity Pool.

In this way, token holders are rewarded passively through distributed transaction fees.

An important and striking feature is the smart contracts that the team created to avoid being able to wipe out all the liquidity at once. Through this contract, the tokens are blocked for a certain period of time. Until it's finished, the restrictions remain.

During the next phase, Nebula focuses on developing its performance aggregator, which allows investors to earn more rewards through our participation and liquidity pool.

Finally, the intention is also to create their own market from selected NFTs, allowing Nebula holders to bet and get special NFT digital art cards.

Bounty Program

This project provides an opportunity to earn SafeNebula tokens by doing some social media tasks and doing simple steps of the bounty program which are described in the following Bitcointalk Thread here (https://bitcointalk.org/index.php?topic=5339690.0), where you can access the link to see what are the requirements to become an early Nebula Protocol contributor and start earning tokens.

For more information about this project, you can visit and read their WhitePaper which is available here (NebulaProtocol_WP). You can also follow their official Telegram channel (https://t.me/safenebula). I hope you liked this post and I'll send you a new one soon.

Token Token details

The SfeNebula will be $ SNBL, which will serve to provide price stability and is used as a combustion mechanism. The idea is to add value to the project ecosystem and be able to create a sustainable environment for the projects launched within it.

This token is based on the Binance Smart Chain (BSC) network, which is a blockchain network built to run smart contract-based applications, allowing users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of the BSC. What is special about the Binance Smart Chain is its low fees and fast transaction speed, but what is even more special is its compatibility with EVM (Ethereum Virtual Machine). Due to EVM compatibility, DApps developed on Ethereum can be ported (imported into the Binance Smart Chain as is), and Ethereum wallets like Metamask can be used as-is.

Roadmap