SAN FRANCISCO, March 8, 2021 /PRNewswire/ -- In May 2021, Brinc Finance is launching the Brinc Token (BRC) - the world's first defi cryptocurrency backed by on-chain reserves that delivers intrinsic value by distributing fees and governance tokens directly to holders. The BRC Token is powered by an algorithmic bonding curve which governs the minting, burning, price, and supply via smart contract.
The BRC Token is an alternative to fiat-pegged stablecoins for use in decentralized finance applications. Offering decentralization, transparency, continuous liquidity, and price appreciation, BRC is a compelling new cryptocurrency that justifies its price.
"A fundamental problem with crypto is in the ability of cryptocurrencies to justify their coin prices," says Brinc Finance co-founder Luke Shim. "Bitcoin and Ethereum are great blockchains but not as strong as currencies, while stablecoins like Tether represent everything that crypto is not supposed to be: centralized, opaque, and subject to US Federal Reserve monetary policy. My idea was simple: to create the first cryptocurrency with real value that's completely decentralized."
Unlike stablecoins tied to fiat currencies, BRC is a reserve-backed cryptocurrency that holds a measurable value of DAI on-chain. The BRC Token offers price stability but reverses the inflation inherent in cryptocurrencies by gradually increasing the price of the token via a bonding-curve algorithm that sets price as an increasing function of supply. All fees generated in the minting and burning of BRC Tokens are redistributed back to holders in a sustainable staking rewards model.
Users can visit Brinc.Fi to sign up for early access to the BrincSpearhead Program, the invite-only closed BETA. Participating early adopters will have exclusive access to governance tokens, community rewards, and more.
About Brinc Finance
Brinc Finance is a decentralized team located in Seoul, San Francisco, and Los Angeles that is building seismic applications for the defi space. The Brinc Token (BRC), is a next-generation cryptocurrency that blends high ROI, transparency, liquidity, and intrinsic value to deliver a cutting-edge, value-packed token powered by the community.