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DataGrid Blockchain Launches DGT Token and Reveals Plans to Use Liquidity Bootstrapping Pool on Balancer

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Bitcoinist | Feb 08, 2021 | 17:12

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DataGrid Blockchain Launches DGT Token and Reveals Plans to Use Liquidity Bootstrapping Pool on Balancer

Bitcoinist

Bitcoinist | Feb 08, 2021 | 17:12


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Despite being home to a $1 trillion market, today’s blockchains are flawed. Experts have constantly warned that in order to appeal to the masses, blockchain technology should be scalable and easy to use. Security is not to be taken lightly either, given the tens of millions of dollars lost due to improper understanding of how blockchain technology works. Indeed, developers worldwide are rushing to build better blockchains that solve many of the pressing concerns, and while solutions exist, only a few are able to achieve scalability, security, and ease of use without sacrificing the benefits of decentralization. Such an example is DataGrid Blockchain, a fix-all protocol that’s currently hosting its DGT token sale via a liquidity bootstrap pool. 

Fixing the Flaws in Blockchain’s Heart 

Blockchain’s value proposition is crystal clear – being home not only to the cryptocurrency market but also to state-of-the-art data management across all business sectors, blockchain protocols must reduce today’s high entry barriers ubiquitous to most markets, which have built up by mega-corporations seeking to protect their interests. Building next-gen blockchains do indeed take a team of smart and highly-driven individuals, and Prasaga is rapidly moving towards fulfilling this goal. 

To keep things simple, through its DGBLabs subsidiary, Prasaga is building the DataGrid Blockchain (DGB), a protocol that’s fast, safe, and easy to use. With an operating system on-top, DGB marries the complexity of blockchain and all its benefits, with ease of access. DGB is in the midst of the private sale and has announced a liquidity bootstrap pool (LBP) listing on Balancer, providing significant protection to DGT token buyers against bots and whales.

Understanding the DataGrid Blockchain

At its core, DGB serves many of the same purposes that other blockchain protocols do, with the difference being that DataGrid Blockchain has opted to reach perfection in several departments. Cracking the blockchain dilemmas isn’t easy, but the team behind DGT has figured out a viable approach that can easily take care of the most pressing issues. 

For instance, ease of use is attained through the implementation of the eXtensible Blockchain Object Model (XBOM) operating system. XBOM is basically an operating software that runs on top of the DataGrid Blockchain, giving users the ability to easily interact with the chain. XBOM can be leveraged to deploy smart contracts on DataGrid or to control how one’s privacy and individual autonomy is managed. The software itself is easy to use and even easier to build for, thereby creating a more inclusive ecosystem for smart contract developers, businesses, and users alike. 

The DataGrid Blockchain must be scalable to accommodate enterprise-grade blockchain usage. With this in mind, the protocol was designed to add new resources on-demand, whenever deemed necessary. This leads to a considerable, yet sustainable transaction throughput which can easily accommodate commercial usage. 

Prasaga is staying true to its goals of building a future where optimal blockchain technology usage is destined to improve everyone’s lives, by positively disrupting most of the world’s industries. It is the team’s belief that DataGrid will serve an important role in accelerating the development and usage of blockchain technology while fostering innovation for the discovery of new use case scenarios. 

Any blockchain must have a native cryptocurrency that’s used to power transactions, incentivize users, and provide yet another degree of value to the ecosystem as a whole. In the case of DataGrid, the DGT token will serve this purpose. 

Key Points Regarding the DGT Token Sale and the Liquidity Bootstrap Pool

At this time, the DataGrid Blockchain team is hosting its community presale event. The presale kicked off on the 22nd of January 2021 and has now been extended until the 13th of February, 2021. To participate, DGB enthusiasts must whitelist themselves by carrying out the KYC/AML procedure on Blockpass. 

The second step entails opting in by verifying the email address used, and by filling out a survey. Lastly, users will have the chance of purchasing DGT tokens, while earning bonuses of up to 20%, depending on contribution size. Initially an ERC-20 token, DGT will be exchanged on a 1:1 basis with DGT that’s directly compatible with DataGrid’s token standard as soon as the blockchain is officially launched. 

Once the community presale is finalized, the DGB team will commence the DeFi listing of the DGT token on Balancer, which is scheduled for the 14th of February, 2021. The DGT token listing on Balancer will make use of the liquidity bootstrap pool. This means that the DGT token price starts off higher and gradually shrinks through automatic pool weight adjustments. 

The main benefit of this strategy is that it helps deter whales and bots from speculating and buying up the whole supply. By applying sell pressure on the token pool whilst whales are applying buy pressure, negative effects can be effectively mitigated with ease. Thus, FOMO is no longer a concern and interested investors can wait until DGT reaches a price they’re comfortable with. Of course, the liquidity bootstrap pool only works for the duration of the token sale on Balancer. Once listed on exchanges, DGT will be tradeable at a market price based on the laws of supply and demand. 

While looking at previous token sales leveraging liquidity bootstrap pools, we ought to observe platforms like Perpetual Protocol or APY.Finance, which utilized liquidity bootstrapping pools and managed to rake in over $5 million in financing. Later when the tokens were listed on the public market, trading volumes remained high and the price automatically adjusted to its organic and bullish levels. 

Wrapping It Up

With these aspects in mind, it becomes crystal clear that DataGrid Blockchain will serve an active role in improving the blockchain landscape for everyone. With the ongoing token sale attracting enthusiasts worldwide, the company expects great success for its blockchain protocol and operating system in the years to come. 

To join the DGT presale, visit the DGBLabs website and get whitelisted today


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

 

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