Blockchain technology has made it possible for several projects which seems unimaginable and impossible to have fruition today. Bitcoin, which most people thought was a joke( at the time), is still existing and topping the chart as the most expensive currency in the world.
The outcome is an outburst of innovations, which has led to the revolution of several industries using blockchain technology, nowadays it is hard to see any particular industry that have not been taken over by the blockchain revolution, we now experience several projects aimed at decentralizing several industries with the blockchain infrastructure.
However, this has created room for several projects to be run by people who do not have effective knowledge of the blockchain ecosystem, we find now that many Cryptocurrency projects have been known to over-promise the communities and participants, and under deliver on their promises, this phenomenon has effectively caused a reduction in the rate of adoption for cryptocurrency and blockchain technology.
There is need for a cryptocurrency project that would serve as a stable and market leading cryptocurrency, stable and with good supply, transparent and an effective community ecosystem. Above all, there is need for a cryptocurrency project that will set the pace for other upcoming projects to effectively maximize stability and increase liquidity, creating means of ensuring that they deliver on their promises.
Introducing Ittrium, the Cryptocurrency of stability, and reasonable returns..
Ittrium, is a cryptocurrency project that is aimed at creating a market leading cryptocurrency with features of stability, high liquidity and reasonable rewards system allowing for near instantaneous private transactions with minimal fees.
Ittrium‘s team is poised at delivering a cryptocurrency that will serve as a focal point for upcoming cryptocurrency projects to look up to in creating an ecosystem that would ensure effective stability and rewards to the community at a reasonable rate.
Using Maternode infrastructure, Ittrium is set to deliver the cryptocurrency of the future – a market leading cryptocurrency, like the bitcoin, that enforces crypto stability and set standards for other cryptocurrencies to ensure that they do not over-promise their investors and end up under-delivering. This is made possible to increase liquidity of Ittrium Coins, while creating a means of reducing negative influences of the market on Ittrium ecosystem.
The vision to make the Ittrium Cryptocurrency a rare and stable cryptocurrency, originated from the fact that the name Ittrium is an adumbration of a very rare and important earth metal Yttrium.
Yttrium is one of the rarest earth metals with much significance especially with modern day technology, Yttrium is utilized in the production of many electrical appliances, due to its special ability to conduct electricity efficiently, with minimal loss in energy (It only has no loss of electricity when used as a superconductor i.e. temperature reduced to -100C. Yttrium it is the highest temperature superconductors). Yttrium is utilized in the production of fuel cells, electrodes, superconductors, smartphones and other appliances that is synonymous with modern day technology, making Yttrium one of the most important metals as long as modern day technology is concerned. Yttrium is a stable metal that effectively conducts electricity, having no loss of energy, unlike other earth metals, and just like Yttrium, Ittriumteam plans on making the cryptocurrency a very stable currency with a plethora of important uses, creating room for more innovations in the cryptocurrency and blockchain ecosystem.
Price Stability in Cryptocurrency, How isthat Possible?
Blockchain technology in itself has made it in such a way that virtually anything is possible, but due to the fact that this technology is in its nascent stage, there are certain limitations to its full functionalities, one of those limitations includes the ability to maintain a stable price for any cryptocurrency. As seen in the crypto markets all over the world, the volatility of the market makes a name for itself as cryptocurrencies fluctuate in prices and are unstable in market value, for instance, a particular coin can be as high as $50 and in the next day, forces of volatility in the market would cause an overt crushing of the coin to as low as $0.003.
This phenomenon is evidently caused by several factors, of which 2 important factors are inherent, these factors have been proven to be the cause of the instability of several cryptocurrencies, they are:
Fear of Missing Out and Fear, Uncertainty and Doubt are interrelated and one leads to another, these factors have been one of the driving factors of coin instability, the Ittrium team plans on effectively minimizing their incidents and effects.
By ensuring communication, transparency and support of the community, Ittrium team would effectively tackle the issues of FOMO and FUD. Before we talk about HOW this would happen, let’s highlight how FOMO and FUD causes instability of cryptocurrencies.
When new coins are released, scarcity of such coins increases the FOMO for that particular coin, which would lead to a massive influx of investors buying at a high rate, as this continues and the coins become distributed to the hands of many, there tends to be a price correction, which almost always sends the coins spiraling in a downward direction, this effectively leads to FUD, where most investors begin to sell off at prices way lower than what they bought it, conclusively leading to low liquidity.
Liquidity is the term used to describe the degree to which an asset or cryptocurrency can be quickly bought or sold in the market without affecting the asset’s price. Low liquidity is often the cause of both positive and negative price volatility.
Ittrium team plans on fostering solutions to FOMO, FUD and Low liquidity by:
Stepped Defensive Buy Wall is a phenomenon utilized by companies to ensure the value of their commodities remain at a particular range, this is a form of “buying back” from investors and customers who have purchased the product, in the case of Ittrium, the team plans to enforce this phenomenon in the case of FUD, ensuring that liquidity is not reduced by either high or low volatility of the currency. With the funds received from the pre-exchange sales, the team plans to use a vast majority of it, to set up buy orders at prices little lower than the initial prices sold in order to proctect investors from people who would sell theirCoins at ridiculously low prices due to FUD.
The team plans to deploy a transparent system of informing investors of everything being carried out by the team and enabling everyone to have an adequate knowledge of each plans as they are deployed. This would go a long way to build trust among community members and between the team and investors. Due to the adverse influence of FOMO and FUD, coupled with low liquidity, Ittrium team plans on offering the coinwth a good supply balance, not too high to create scarcity, and not too low to create loss in value,with a reasonable ROI.
The community is one of the most important factors that makes for a successful cryptocurrency project, it is indeed fact that no matter what Ittrium team does to maintain stability of the coin, if the community is working against them, all the works would be in vain and the plans will not be effective. Hence the team have plans on deploying excellent community support strategies that will benefit both the project and investors.
Ittrium (XIT) is the coin ticker for the Ittrium ecosystem, it is a Masternode cryptocurrency, that would be utilized as proof of value and stability just like the Yttrium earth metal.
Algorithm: Lyra2z Maximum Supply: 33,000,000 XIT Pre-mine: 495,000 XIT (1.5%) Block Time: 60 seconds Block Size: 2Mb Maturity: 60 Blocks Confirmations: 6 Blocks Port: 39993 RPC Port: 50369 Masternode: 73% of block rewards Proof of Stake: 27% of block rewards
Block Rewards Summary
After the pre-exchange masternode sale and once Ittrium has been listed on an exchange, an additional 350,000 XIT coins will be listed for new investors to purchase, the capital raised will be used to create a ‘stepped defensive buy wall’ to improve liquidity and protect against negative price volatility. The remaining 95,000 XIT (0.28% of total supply) will be reserved for bounties and distributed amongst the Ittrium team.