Why is the new DeFi project Arabic Cash able to attract the attention of the entire community?
On the technical side:
The DeFi project Arabic Cash is based on the most advanced crypto technology of 2021 — Binance Smart Chain of the BEP20 protocol in the Solidity programming language. This provides the ABIC token with the most reliable protection, the highest transaction speed and the lowest fees for it. This allows investors to be calm about their assets in any quantity, and also promises them a guaranteed profit of 35.6% per annum for keeping tokens in the liquidity pool.
In terms of concept:
Arabic Cash aims to develop e-commerce for the entire Arab World, which is the most promising and ambitious vision for the entire region and even the planet for the coming decades. The United Arab Emirates has taken a direct course towards building the strongest core of the crypto industry in the world. Blockchain Strategy 2021 already operates here, as well as Crypto Valley. Since the technology of decentralized finance does not depend on the intervention of traditional regulators, Arabic Cash can become a powerful auxiliary tool for the implementation of the Emirates Crypto Strategy.
Why Binance Smart Chain?
Ethereum’s current gas fees have been exorbitant to say the least and the barrier to entry for participating in on-chain activities is only getting higher and higher. Enter Binance Smart Chain. By leveraging BSC, we will be able to increase the speed of transactions while massively reducing the fees at the same time.
Arabic Cash in a nutshell:
- The Arabic Cash developer team will only receive less than 1% of all ABIC farmed (i.e. the Arabic team gets 1 ABIC token for every 100 ABIC farmed).
- Maximum rewards for ABIC stakers. The ABIC-BNB pool will earn 10x rewards compared to other pools.
- The first Binance Smart Chain AMM to offer alt-coin liquidity pools (LPs) such as LINK, DOT, etc.
- One of the very first to utilize Binance Smart Chain for an AMM DEX.
- We’re taking full advantage of the Binance community by providing arbitrage opportunities amongst BEP2 and BEP20 tokens that are hosted on Binance.com or on the Binance DEX.
How does Arabic Cash work?
Arabic Cash is the next iteration of the now infamous Uniswap. It’s like Uniswap, but faster, cheaper and dare we say it… tastier? In addition to all of the above, liquidity providers will also be rewarded with ABIC tokens from which they can earn a share of ABIC’s trading fees and use for voting as part of ABIC’s governance.
Initial Liquidity Pools(LPs)
Arabic Cash has 2 types of liquidity pools:
- With ABIC rewards.
- Without ABIC rewards.
This is to facilitate the creation of new LPs by the community. Only designated LPs will have ABIC rewards and among those the reward multiplier for each will vary, typically based on the value they provide to ABIC holders.
The initial set of LPs and ABIC reward multipliers as below:
- BEP20 ABIC-BNB, 10x ABICrewards
- BEP20 BUSD-BNB, 3x ABIC rewards
- BEP20 ETH-BNB, 1x ABIC rewards
- BEP20 BTC-BNB, 1x ABIC rewards
- BEP20 DOT-BNB, 1x ABIC rewards
- BEP20 LINK-BNB, 1x ABIC rewards
Trading fee and reward distribution
Arabic Cash applies a 0.30% fee to all swaps/trades, of which 0.25% will go to Liquidity Providers (LPs), and 0.05% will be converted to ABIC tokens and given to ABIC holders as additional rewards.
Liquidity providers are given liquidity pool tokens (Arabic LPs) that represent their share of each pool, and can earn a portion of the fees collected in these pools when removing liquidity.
LPs can then stake their Arabic LP tokens to farm ABIC token rewards.
How will ABIC release and distribute?
ABIC tokens will be gradually released to liquidity pools according to their respective reward multiplier (e.g. 1x , 3x , etc).
Early farmers will be greatly rewarded in terms of the initial “ABIC per block” release.
Initial release schedule:
- First 30,000 BSC blocks (approx 1 day) — 400 ABIC per block
- 30,001–900,000 BSC blocks (approx 29 days) — 300,000 ABIC reduced day by day, 255 ABIC per block on average
- 900,0001 BSC blocks until full supply released (approx 11 months) — 300,000 ABIC reduced month by month, 73 ABIC per block on average
How to purchase ABIC tokens on the Private Sale stage?
To purchase and store ABIC tokens, you need to create a personal account in the MetaMask program wallet. You also need to manually add an ABIC token to your personal account.
1. Find and install the MetaMask application on your smartphone or PC Mac.
2. Open MetaMask on your smartphone, click Get Started, and then — Create a new wallet;
3. Come up with and remember / write down a strong password for entering MetaMask;
4. Protect the original phrase, which will help you recover your wallet;
5. After confirming the original phrase, click Full backup;
Then you should configure the Binance Smart Chain network:
1. Find Networks in MetaMask Settings and click Add network;
2. In the New RPC Network tab, carefully fill in each item:
— Network name: Binance Smart Chain
— RPC URL: https://bsc-dataseed.binance.org/
— Chain ID: 56
— Symbol: BNB
— Block explorer url: https://bscscan.com
3. Click Add and exit to the main screen;
4. In the Wallet tab, select the Binance Smart Chain you created.
After correctness configure you should Add ABIC token in your Metamask wallet:
1. At the top of the main MetaMask screen, click Wallet;
2. Find Binance Smart Chain in the list of networks at the bottom;
3. At the bottom of the screen, click + ADD TOKENS;
4. Switch to the CUSTOM TOKEN tab;
5. Copy and paste the Token Address / Contract Address into MetaMask
If the Token Address is filled in correctly, all other items will be filled in automatically:
- Token address: 0x4823a096382f4fa583b55d563afb9f9a58c72fc0
-Token symbol: ABIC
-Accuracy mark: 18
After filling in all the items, click ADD TOKEN.
Done! ABIC tokens are displayed on your MetaMask account even before Public Sales starts. Now you can go to the official website of Private Sale and continue the purchase by following the instructions.