Since the Dogecoin hit the crypto market, meme coins have gone from mere internet sensations to a major feature of the crypto industry. While they are often derided by certain factions of crypto investors, meme coins nevertheless remain popular, despite their lack of utility. With so many cryptocurrencies on the market today, there is genuine concern about safety and validity. Every ICO (Initial Coin Offering) holds promise, as well as risk for investors, and it is essential to carry out due research before splurging on any new coin.
What Is Big Eyes Coin?
The Big Eyes Coin is a community-driven meme coin launched to improve the crypto ecosystem, including the metaverse, NFTs and Decentralised Finance (DeFi). Like many other cryptocurrency tokens, the Big Eyes project is built on Ethereum’s decentralised blockchain and operates as a dApp (Decentralised App). Big Eyes Coin empowers its users to carry out peer-to-peer transactions, thus reducing costs and eliminating intermediaries. The Big Eyes Coin lies at the heart of the Big Eyes ecosystem and is its ERC-20 native token. Big Eyes Coin is available on various exchanges, including LBank, Uniswap and Poloniex. With its inherent deflationary model, the token’s supply reduces over time, potentially increasing its market value.
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3 Features of the Big Eyes Coin Project
With any cryptocurrency project, it is important to come to an excellent understanding of how it works. Without this knowledge, it is difficult to know if the coin you’re investing in is safe or a mere “Pump and dump” scheme. The Big Eyes project possesses 3 interesting features that are key deal-breakers for potential investors. Let’s take a closer look at the 3 features below.
A Doxxed Team
Before its launch on the 15th of June, 2023, little was known about the team behind the project. However, the token faced some challenges in the first few weeks after its launch, prompting the team to reverse its anonymous stance by going public. While such an act is by no means a guarantee that a project is safe, it is undoubtedly efficient at boosting public trust. It also makes it unlikely for a project to become a scam eventually.
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Utility
While a meme coin, Big Eyes Coin is set to be run quite differently from other popular meme coins like Dogecoin and Shiba Inu. Big Eyes Coin has practical use cases, including NFT and DeFi utility, unlike the latter two. Such applications lend the token more value and make it more appealing to investors. The native token will be used across the Big Eyes ecosystem, and, to further preserve its value, an initial liquidity pool locked in for two years will be created.
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Favourable Taxation and Transaction Fees
The Big Eyes project has a “No buy tax, no sell tax” policy, meaning that no processing or transaction fees are charged across investor categories. This is a massive incentive for potential investors, as much of the crypto industry is characterised by high transaction fees and unnecessarily high taxes imposed on users. Another incentive is that the Big Eyes project will allow token holders to carry out various DeFi activities, including yield farming, staking, and liquidity provision.
Is Big Eyes Coin Safe?
Big Eyes Coin has had its fair share of controversy, prompting investors to doubt its potential as a viable asset for the long term. Upon its launch, investors had issues claiming their tokens. Considering that its earlier presale was delayed several times, there are more than a few reasons to doubt its validity. However, its owners have taken steps to reassure the public of their commitment to the project. Plus, a recent audit of the project by Solidity Finance, with publicly-released results, further helps to cement the token’s status as a worthy crypto investment.
Conclusion
Investing in any cryptocurrency, including Big Eyes Coin, should never be done on a whim. Big Eyes Coin has experienced a stuttering start to life on the crypto market, even if its value has somewhat stabilised since. Much of its potential lies in its proposed DeFi ecosystem, which, if realised, will make it one of the top meme coins in the future.
Frequently Asked Questions
How Does Big Eyes Coin Work?
Big Eyes Coin is an Ethereum-based ERC-20 cryptocurrency that works as a decentralised app. It is a meme coin whose contract is deployed with Solidity v0.8.13, protecting it from possible overflows/underflows. Its total supply is 200 billion BIG tokens, with 20% going to crypto exchanges, 70% to online sales, 5% to the marketing budget and 5% to charity.
Is Big Eyes Coin Decentralised?
Although it supports decentralised finance activities like yield farming and staking, the Big Eyes project itself is not decentralised. The audit report points out that the team is in sole control of user funds and can withdraw all funds or blacklist any users with little or no warning.
Is Big Eyes Coin Token Fast?
Regarding transaction speeds and costs, tokens like Ripple are at the top of the hierarchy. Nevertheless, Big Eyes isn’t too far behind, given that its hybrid network supports cheaper and faster transactions compared to other platforms like Bitcoin and Ethereum.