Dear Respected Users,
Hotbit is scheduled to list FIRETOKEN (Fire Token) on Growing Section.
Deposit function launches at: 2021.05.19 06:00 AM UTC
Trading function launches at: 2021.05.19 08:00 AM UTC
Withdrawal function launches at: 2021.05.19 08:00 AM UTC
Trading Pair: FIRETOKEN/USDT
Note: According to the mechanism of FIRE’s contract, by successfully depositing FIRE into their Hotbit accounts, the users are required to pay a 6% of deposit transaction fee, which means that the actual volume of FIRE that the users will receive as deposit = The volume of FIRE that the users initially transferred - 6% of transfer transaction fee deducted on-chain - 6% of deposit transaction fee payable to Hotbit. For further details regarding the mechanism of FIRE’s contract, please feel free to contact FIRE’s official team.
Since Hotbit has already launched FIRE (Fire Protocol), its token name is the same as the current token name, in order to avoid confusion when users making transactions, Hotbit will use the full name of FIRETOKEN (Fire Token) as its token name.
【Hotbit users exclusively enjoy “Minus Maker Means Minus Transaction Fee” mechanism. By placing and settling any maker order, the user will enjoy 0 transaction fee and an extra 0.50% of the trading volume of his/her maker order as reward on Growing Section!】
Project Name: Fire Token
Abbreviation: FIRETOKEN
Project Introduction
Fire Token is a deflationary BEP-20 that uses the reflection model to benefit holders and guarantee the project longevity. Fire Token has a built-in mechanism to secure funding for marketing and does not have Safemoon issues with the Liquidity Pool Tokens.
Fire token taxes sellers by 6%:
Holders of Fire Token will be rewarded 2% of every transaction; in other words, it is an in-wallet staking mechanism that does not require tokens to be locked.
Fire token depends on Pancakeswap liquidity pools to have a market. For that reason, there is a 2% tax on every transaction, used to add FIRE and BNBs back to Pancakeswap Liquidity Pool to guarantee that there is always liquidity for Fire Token.
Lastly, there will also be a 2% fee on seller transactions directed to the Marketing Fund. The tokens on this fund will be 100% used to grow the
project.
Security:
The Problem: Most projects in the Binance Smart Chain from 1 million to 1 billion market cap are all forks, not say copy and paste, of Safemoon. Fire Token used the Safemoon contract as a base, but we removed several functions that served no purpose and fixed a security vulnerability. Safemoon and all their forks have functions that allow them to exclude addresses from getting rewards and not pay fees. They also have functions that enable them to update the fees, which means that in theory, Safemoon & Co could increase the liquidity fee to 100% and force all transaction value to be added to the Pancakeswap Liquidity Pool. This, combined with the fact that they designed their contract to receive the new-minted liquidity pool tokens, allows them to do a rug pull at any time. Most forks are forced to renounce ownership to fix this issue, which can have long term consequences.
The Solution:
Fire token removed all functions related to this to keep its users safe. Fire token does not allow the owner to update the value fees nor exclude accounts from fees or rewards. Furthermore, new-minted liquidity pool tokens go directly to the burn address, making the Fire token rug proofed. These features make the Fire Token the safest deflationary reflection asset to date.
Token type: BEP-20
Total supply: 1,000,000,000 FIRETOKEN
Circulating: 650,000,000 FIRETOKEN
Official Website: www.firetoken.xyz
Explorer: https://bscscan.com/address/0xbacbf768795c50fc5e877830a127276741651d0a
Risk warning
The investment on cryptocurrency projects is subject to high market risks.Please make your investments cautiously. Hotbit will make best efforts to choose the cryptocurrency projects with high quality,but Hotbit will not be responsible for any of your investment losses.
Thank you for your support！
Yours truly
Hotbit Team
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