ACT (Acet), a new entrant in the cryptocurrency space, is proud to announce its brand-new breed of crypto asset. ACT (Acet) is designed to tackle oversupply caused by an imbalance between supply and demand for tokens. With a "Zero Initial Supply" solution, ACT (Acet) aims to bring a new option to the broader crypto industry.
ACT (Acet) wants to help address one of the long-standing issues for cryptocurrencies: the oversupply factor. Supply and demand for particular tokens are not always balanced. When that occurs, there is often an oversupply and not enough people buying it. Such scenarios, akin to inflation, can affect any cryptocurrency on the market today or released in the future. ACT (Acet) solves this through a burning mechanism to decrease the supply of the token and ensure the circulating supply reflects the asset’s real value.
ACT (Acet) has a solution to this pressing problem, known as the Zero Initial Supply concept. A digital asset should have an initial circulation of zero. Moreover, there should only be an influx of newly minted coins based on token holder demand. It is a novel approach to cryptocurrencies, as it foregoes block rewards, staking rewards, and other systems often utilized by significant currencies.
To increase the supply of ACT (Acet), tokens are created by the real demand of token builders' staking contracts. For example, one can stake BUSD to earn and generate ACT. There is also an ACT staking option and an ACT-BUSD option, all of which have different maximum earning rewards. The ability to stake other options, such as the BUSD stablecoin, to generate ACT indicates staker demand to increase its supply.
Under the hood, ACT (Acet) is a new asset breed combining Fans Token aspects with decentralized finance. The “Decentralized Fans Financial Token - or DeFansFi Token - was coined by project founder Worawat Narknawdee or Acme Traderist, an experienced trader in global financial markets, and will seek its place in the growing digital economy. All holders - individuals or businesses - can buy, sell, trade, and conduct transactions with ACT (Acet) upon holders’ request. It will also serve decentralized finance (DeFi) purposes.
ACT has multiple use cases, including staking, harvesting - for rewards - and burning (reducing the overall supply). There are also various fees, including staking, penalty, harvesting, and additional token rewards. That latter aspect is invoked when a user agrees to engage in a staking contract. Through that process, the protocol will generate additional ACT proportionally to the contract conditions. In addition, rewards will be transferred to a developer's wallet.
The objective of ACT (Acet) is to reach as many token holders as possible. Per the roadmap, the team aims to achieve 150,000 unique addresses by late Q4 2022. That milestone would see the supply hit 100 million ACT. The token launched on August 31, 2021, yet it has already hit the “holder threshold” outlined in the roadmap for Q4 2021, well ahead of schedule. Currently, there are over 40,000 total ACT holders.
The novel approach by ACT (Acet) has attracted several million dollars in Total Value Locked. ACT has, as of October 5, 2021, a total supply of 95,429,345 tokens, and 43.961 unique users hold the token in their wallets. Moreover, the token is valued at $0.415 and can be traded on the PancakeSwap platform. Per DEXTools, the platform notes over $123,000 in daily trading volume, and its market cap sits above $39 million.
ACT (Acet) has undergone a successful audit by the Peckshield team. A second audit is onboarding on CertiK. More details will be unveiled through the official channels shortly. Furthermore, the project is listed on CoinGecko and CoinMarketCap, the two premier crypto data aggregator platforms in the industry today.
About ACT (Acet)
ACT (Acet) is a brand-new breed of cryptocurrency designed to tackle the oversupply caused by the imbalance between demand and supply of a token. It is initiated on the concept of “Zero Initial Supply”; in the belief that to be a digital asset, the initial amount of supply should start at “0”, and the amount of the token should only be generated based on the holders’ demand.
To learn more, follow ACT (Acet) through the official channels: