BGV just launched for an hour, and the currency return rate has goes up to 80500%
December 3rd, 2020 is an ordinary day for most people. However, for investors in the currency circle, especially those holding BGV coins among NGK fans it is another unusual day.
Following the two high-power assets of NGK memory and NGK coin, NGK, a professional high-power asset incubator, ushered in a new member-BGV. As a professional coin for NGK’s decentralized financial projects, BGV has received wide attention from investors since the official announcement.
According to the official display, BGV is a dedicated coin for NGK decentralized financial projects. The project runs through a decentralized smart protocol. There is no trust cost in transactions. The market maker provides liquidity in the reserve pool at the current ratio. Users can use the reserve pool for quick flash exchange, and the exchange fee will be used as a return to the liquidity provider. This reward mechanism will attract more mobile providers to participate.
The Baccarat transaction will drive the flexibility of users’ transactions and at the same time achieve the lock-in of the total value of the reserve pool (TVL). In addition, liquidity transactions can also bring participants the mining rewards of BGV coins, realizing a fairer and more transparent coin distribution mechanism, so that all participants can analyze the price changes of BGV coins based on the liquidity reserve pool. Only supply and demand determine the market price in the system. There is a dynamic balance algorithm in the contract, which will calculate the proportion of trading pairs based on the proportion pool, and obtain the amount of currency exchanged through the change of the proportion, and then complete a new round of pricing at the same time.
According to the official information from the feixiaohao and bishijie (data at 4:10 pm on December 3rd, GMT +8), the current market circulation of BGV currency is 4.03 million US dollars. Since its launch on the A-net exchange at 3 pm that day, the total turnover in the past hour has reached 731,200 US dollars. The same real-time data reached a staggering figure of 1BGV to 403 US dollars. It is known that the official initial release price of BGV is at 0.5 US dollars, which is an increase of 806 times.
The editor no longer remembers when was the last currency that rose more than 800 times in an hour. The editor has did a simple calculation here. Assuming that the investor Mike obtained 10 BGV coins by airdrop, his 10 BGVs are now worth 4,030 U.S. dollars, and this is only the amount after A network being online for an hour. Moreover, his ten BGVs were obtained from airdrop. Thus, perhaps only a small amount of fee was paid by him.
According to feixiaohao official data, the current return on investment of BGV coins is +80500%. The editor understands that the logic calculation of feixiaohao is like this: return on investment = (current currency price-initial price) / initial price * 100%, that is, return on investment + 80500% = (403–0.5) / 0.5 * 100 %.
It is known that with a return on investment of over 80,000%, it is not a problem at all for BGV to catches up with YFI, Comp and other star projects.