Warning : This article is brought to you by the company ProBit. Crypto investments are risky by nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an investment incentive.
PROB, the utility token of the ProBit exchange
ProBit, an international top exchange based in Korea
ProBit, understand “Professional Bitcoin & Cyptocurrency exchange” is, as you might expect from the illustrative image of this article, an exchange. And not just any exchange, from Seoul in South Korea, it is one of the 20 largest exchanges in terms of volume internationally and it is in 4th place in Korea, a good performance for the exchange. created in 2017 when we know the advance that the country and its population have taken in terms of the adoption of cryptocurrencies. Other notable facts, ProBit has successfully achieved nearly 200 rounds of Initial Exchange Offering (IEO) on its platform and counts more than 800,000 active users. As Binance with his BNB or Crypto.com with the CRO, ProBit also has its utility token: the problem.
A limited number of PROBs in circulation
As we know, in order to mechanically increase the prices of their utility tokens, the associated exchanges set up a bunch of mechanisms to limit the token supply gradually in order to attract as many users as possible. thus doubly rewarded as an early adopter of the platform by benefiting from a price of the utility token which must logically grow as well as many advantages for trading on the exchange.
This side, ProBit has put all the chances on his side to set up such a mechanism by controlling the reserves of Prob. Initially limited to 200 million, the offer has already fallen to 194 million following the launch of the project which made it possible to sell 14 million Prob out of the 20 million for sale. The difference has therefore been subtracted from the total number of Prob in circulation.
Otherwise, ProBit has set up a repurchase system of PROB on the market, repurchases financed by the transaction fees generated by the platform. Since the launch of the exchange, nearly 7 million PROB were repurchased and put in reserve to remove them from circulation on the markets and thus accentuate the increase of the price.
By observing the evolution of the price of the PROB since its launch, we observe a price increase of almost 872%. This is boosted by the limited number of PROBs in circulation which today allows the Prob to stabilize around $ 0.5, now the price is targeting the fateful $ 1 mark by continuing to bet on a gradual reduction in the price. outstanding offer.
Many advantages for PROB holders on ProBit
Reduced trading fees
First advantage when you trade cryptocurrencies with ProBit on trading pairs involving the PROB, you reduce your transaction costs to almost zero, they do not represent only 0.03% for members who achieve the highest level of reward from the ProBit exchange!
As a new ProBit member, your transaction fees are 0.2% but if you pay them in PROB, the costs are reduced, which allows you to benefit from very reduced costs, only 0.02% per transaction as soon as you join ProBit. It was therefore important for the exchange to offer very important advantages for new users.
4% yield for PROB staking
The staking takes an increasingly important place in the economic models of tokens in circulation on the market, the PROB is no exception to the rule. Indeed, by “staking”, that is to say by sequestering your utility tokens on your wallet for 180 days, this ensures a return of 4% per year. Staking is thus a source of returns for users and an effective way for the platform to reduce the number of tokens in circulation, which should mechanically make it possible to support the rise in price.
IEO participation bonuses
As mentioned in the introduction of this article, the platform ProBit stood out for the many IEO success that she was able to conduct on her platform. More than 200 rounds completed nowadays ! These Initial Exchange Offering are a variant of Initial Coin Offering carried out directly on the exchange platforms. It is an excellent way for investors to enter very early in the capital of promising projects and on the other hand, project leaders have a good showcase on one of the top exchanges.
Once again the PROB has advantages to offer here, in fact, by investing in IEOs with your PROBs, you can get more for your money by benefiting from bonuses ranging up to 10% of the initial value of your investment. Bonuses that can quickly increase the value of your portfolio once the price of tokens listed as a result of IEOs soar on the market.
Become a VIP within the ProBit community
Climb on the ProBit Exclusive VIP ladder!
Utility tokens are also the way to offer you real VIP privileges on the exchange and outside! Indeed, by increasing the amount of your PROB staking to 3000 you go to level 2 of VIP status, at this level you immediately win 20 new PROBs which will be added to the 4% return of your staking.
By “storing” a minimum of 8000 Prob you reach level 3 VIP status, a level that allows you to benefit from 6 month Netflix subscription offered as well as a entry pass for many events in the crypto scene!
Access trading competitions
Whether you are a crypto trading pro or not, you will be able to participate in the trading competitions held regularly on the exchange. The top 50 participants share a pot worth $ 20,000, an amount doubled compared to the first competition. To get to the top of the ranking, we count of course on your trades but also on your PROBs which will make you climb more quickly to the top 50!
Finally, another way to win the best trader award on ProBit it is also to sponsor your friends to join the platform. You are greatly encouraged to sponsor your friends because you will be able to earn 10 to 30% of the costs generated by their transactions.
Conclusion, the PROB, a utility token to follow closely!
You will have understood by reading this article, the exchange ProBit has given itself the means with its utility token PROB. It seems to tick all the boxes to support growth boosted by deflationary mechanisms and the serious advantages offered to its holders. Mechanisms already proven on the market as we have seen recently with the rise of tokens such as BNB or CRO in the top 100 of the marketcap. So, will the PROB follow the same path? We will follow this very closely on Cointribune so stay tuned!