New York, New York–(Newsfile Corp. – November 14, 2021) – Safemoon is a DeFi protocol built on Binance Smart Chain. The native token is Safemoon, and was launched on 9th May 2021. Safemoon team is developing a decentralised financial system, a platform that will be providing users with a range of products. Though Safemoon has been doing well in the market as a DeFi project, it faces competition from newer DeFi projects.
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Bitrise, a coin that is growing at a very fast rate and is quickly becoming a tough Safemoon competitor. The coin recently joined Bitmart Exchange. Like Safemoon, Bitrise is developing a DeFi protocol on the Binance Smart Chain. The Native token is $BRISE and was launched on 28th July 2021, almost five months after Safemoon. Bitrise platform is looking to decentralise the financial system just like Safemoon. But the team has delivered more than Safemoon so far.
Just like Safemoon, Bitrise coin is planning to provide users with a wide range of products on its platform. From the roadmap, Safemoon is developing a Safemoon mobile wallet, Safemoon exchange, Safemoonhard-wallet and a Safemoon V2 (Safemoon protocol contract). Bitrise is also developing a wallet, exchange, Audit tools, buyback protocol, and also blockchain.
What makes Bitrise different from Safemoon?
The Bitrise team has already launched Bitrise Audits and Techrate Audit just a month after the coin launch. They are free auditing programs for smart contacts and blockchains. Safemoon is not offering free audit tools. Bitrise dApp wallet was launched on 28th October, two months after the token launch. Safemoon has the mobile wallet out, but it took them a long time. Such fast accomplishments are making Bitrise coin a tough Safemoon competitor.
Bitrise is now in the process of developing its exchange. So far, not much has been said about the Safemoon exchange. Safemoon has developed only one product since March. Unlike Safemoon, Bitrise already has three products, and in November, the team is launching its revenue sharing staking program.
Bitrise has now taken its competition with Safemoon to the next level after joining Bitmart Exchange. This is one of the biggest exchanges, and with Bitrise joining, the coin will be more available to the Safemoon community. The coin recently reported receiving new members from Safemoon. With more Bitcoin available, more Safemoon members could join Bitrise.
With Bitrise joining Bitmart exchange, it will be competing with Safemoon. Both Safemoon and Bitrise are developing similar products. Being on an exchange means now traders can swap from Safemoon tokens to Bitrise tokens with ease.
After joining the Bitmart exchange, Bitrise will be taking competition a notch higher against Safemoon with the launch of the staking process. This will be a huge opportunity even for the Safemoon community members. With the staking launch, more Safemoon members will join.
Bitrise will be sharing 80% APY of all revenues generated from utility products on the ecosystem. This is an income that will even attract Safemoon users. Safemoon is yet to announce token staking on its ecosystem.
The value of BRISE is increasing at a higher rate than the Safemoon token because of the automated buyback and burning of liquidity pool tokens. Safemoon also automatically buys back but burns manually. On rewards, Safemoon is not sending reflections to token holder’s wallets automatically like Bitrise.
The Bitrise crypto team will be way ahead of the Safemoon team in delivering their roadmap. With Bitrise available on the Bitmart exchange, competition with Safemoon will become tougher. The exchange will make it possible for users to swap Safemoon to Bitrise, which will make it easy for Safemoon users to join Bitrise.
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