In this video update NoLimitCoin CEO Rafael Groswirt and Anthony present the news that NoLimitCoin is now on the Binance Smart Chain.
In this video we discuss the reason why NoLimitCoin pivoted from launching NoLimitCoin as an ERC-20 token to a Binance Smart Chain BEP-20 token instead. There was key reasons why NoLimitCoin made this decision including:
Transactions are slow
Fees are not practical for DEFI and Online Gaming
Ethereum 2.0 that may fix this is not likely to be released for a long time
Binance Smart Chain benefits
Fees are very cheap $0.10 to $0.30
Very fast and near instant transactions
No network congestion
Practical for DEFI and Online Gaming
The right decision for NoLimitCoin
An immediate solution for the NoLimitCoin ecosystem
Platforms and web wallet will auto convert soon
Existing exchanges will keep trading on the NLC2 chain
NoLimitCoin will have the following staking rewards on the Binance Smart Chain by July 1st 2021. You are able to receive a reward of 20% more NLC tokens when you stake your NLC in the first year. 15% staking rewards in the 2nd year, 3rd year 10%, 4th year 5% and finishing on 0% in year 5.
The rewards wallet has extra minted tokens that are being used to help grow the NoLimitCoin ecosystem. No additional tokens will be distributed to the company, founders or management.
Undistributed reward tokens will be burned quarterly and Non Swapped Coins will be burned after 1 year.
PancakeSwap is the #1 automated market maker (AMM) and yield farming platform on Binance Smart Chain and it already has large volume. The new NoLimitCoin BEP-20 token will initially be traded on PancakeSwap.
Please also view our guide here on how to swap your NoLimitCoin NLC2 to the Binance Smart Chain BEP-20 NLC Token.
The NoLimitCoin Team