Pitbull (PIT) is a community-driven project on the Binance Smart Chain (BSC) that has garnered notable attention since its launch in 2017. Emphasizing community involvement, Pitbull's unique features and secure smart contract have contributed to its growing popularity.
What is Pitbull
Pitbull (PIT) is a community-driven project launched in 2017 on the Binance Smart Chain (BSC). Initially conceived as a social experiment, similar to Dogecoin (DOGE) and Shiba Inu (SHIB), Pitbull has since gained significant community interest.
A group of volunteers contribute to the project's development and governance. The community plays a crucial role in decision-making, including the allocation of funds and the project's trajectory.
Pitbull did not have a presale. Half of the total supply of Pitbull tokens was burned during the token launch, ensuring scarcity and value for the remaining tokens. Additionally, the hardcoded functions in Pitbull’s smart contract prevent any modification or liquidity withdrawal. The smart contract of Pitbull has been audited by TechRate, ensuring the safety and transparency of the project.
To further showcase the commitment and support of the Pitbull community, the developers created a community wallet that enables users to contribute to causes like animal protection. The wallet features multi-signature protection, preventing any individual team member from accessing and withdrawing funds independently.
The Pitbull team
The Pitbull team consists entirely of volunteers working daily to keep things going on the project. Community leads work on critical software development and are supported by a team of 48 volunteer administrative staff coordinating and suggesting ideas for the daily running of the project.
15 volunteer marketers manage outreach and grow Pitbull through its social media channels. Another group of 45 volunteers is committed to project design, while 22 members work together to build various PIT utility projects. There is also a dedicated group of communicators and writers in multiple languages working to enhance outreach effectiveness.
How does Pitbull work
Pitbull features an auto-staking and redistribution mechanism that allows all holders to earn two percent of each transaction on the network. Anyone can start earning this reward by buying and holding PIT as it is automatically distributed to all addresses holding PIT.
The Pitbull ecosystem also includes various applications designed to increase the utility of PIT. PitTracker, for instance, enables users to track their PIT holdings and monitor the amount earned from staking. PitCharts, a BSC token tracker, is set to launch soon and will offer premium features accessible with PIT tokens. Additionally, the ecosystem includes projects such as PitFarm, PitSwap, PitStore, PitStop, and PitGames, further diversifying the range of utility and engagement opportunities for PIT holders.
Pitbull’s native token: PIT
PIT, the native token of Pitbull, is an integral part of the upcoming Pitbull ecosystem. With an initial supply of 100 quadrillion tokens, Pitbull took a significant step to ensure scarcity and value by burning 50 percent of the total supply in the genesis block, effectively locking 50 quadrillion tokens in a dead address.
To further enhance the value proposition, Pitbull implements a unique two percent burn and distribution mechanism. Through the burn mechanism, two percent of each PIT transaction is sent to dead addresses, reducing the token supply and fostering scarcity. Simultaneously, holders of PIT tokens are rewarded with a two percent distribution on every transaction, providing an incentive to hold and potentially increase their PIT holdings.
What the future holds for Pitbull
Pitbull emerges as a contender in the memecoin space with its unique features. The automated redistribution and the consistent burn mechanism contribute to its appeal among crypto users seeking passive yields. As the Pitbull ecosystem continues to evolve and introduce new decentralized applications (dApps) on the Binance Chain, it is poised to gain significant traction in the years to come.
Within Pitbull’s roadmap, they unveil that they are going to introduce a Pitbull magazine called PitMag. Furthermore, they also have plans to create their own metaverse and their own play-to-earn game.
