With ethereum burning and removing more coins from supply, the second-largest cryptocurrency by market cap remains strong. Meanwhile, Borroe Finance (ROE) is taking a similar approach, aiming to impact the web3 space through deflationary tokenomics.
BorroeFinance and its role in web3 financing
BorroeFinance improved its credibility on web3 financing after being audited by BlockAudit. This external validation and the project's approach explain why decentralized finance (defi) enthusiasts look at the platform.
The protocol's open smart contract encourages transparency and accountability, which contributes to the reliability of the project. This openness allows for public scrutiny and can build trust among potential investors and users.
As an nft-based marketplace that connects web3 participants with revenue sellers, BlockAudit's BorroeFinance compliance assessment reinforces its position as a trusted platform for revenue financing. This audit demonstrates the network's commitment to data security and integrity.
BorroeFinance's innovation lies in its ability to provide immediate financing to web3 players using their recurring revenue, royalties and subscriptions as collateral. These recurring revenues are tokenized as non-fungible tokens (NFTs) for seamless trading on the BorroeFinance platform.
This approach has attracted many investors, with over 170 million ROE. bought in pre-sale, helping the project raise more than $1.8 million.
BorroeFinance also has deflationary tokenomics, with a built-in mechanism that reduces the total supply over time. This approach could also stabilize prices.
ethereum is deflationary
A recent report from on-chain metrics provider Glassnode noted that ethereum is now deflationary.
glass node noted:
“The growth rate of ethereum's validator pool has slowed in recent weeks as an increasing number of validators exit voluntarily. This has slowed down the pace of eth issuance. In addition to the increase in eth burned through EIP1559 due to increasing network activity, the supply of eth has become deflationary again.”
ethereum began burning some eth from gas fees after the London hard fork in 2021. Analysts expect the coin, in the long term, to be deflationary.
In October, the network was burning 899 eth, on average, daily.
Learn more about BorroeFinance (ROE) here:
Visit BorroeFinance Presale | Join the Telegram group | Follow Borroe Finance on Twitter
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