Thousands from all corners of the world flock into the crypto space everyday in the hopes of getting their first taste of decentralized finance and all the perks that come with it. There’s no doubt that the blockchain and the DeFi domains have a lot of potential, but amid all the glory lurks an ominous element – scam.
More than $2.8 billion was spent on a “rug pull,” a relatively new but prevalent type of scam in which developers set up what appear to be legitimate cryptocurrency businesses before taking investors’ money and fleeing. Other than the rug pulls, various crypto scams like smart contract frauds and pumps and dumps are among the top threats to investors.
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Brewlabs offers a cure to what could be called the crypto industry’s Achilles’ heel – the lack of means to differentiate between authentic and fake tokens. In doing so, Brewlabs sees to the auditing and engineering of smart contracts of a new project before they are rolled out, ensuring legitimacy and integrity.
The Brains Behind the Brand
Brewlabs was founded by David Hallet and Jesse Dean, two eminent names in their respective fields. With an enriching experience in building companies from the ground up, the duo joined forces to create Brewlabs and establish themselves as thought leaders in the industry.
David established his first company, CBS Property Group, which successfully operates to this day as a well-known, trusted, professional property management company in Australia. In recent times David has become well known for his knowledge of financial instruments, particularly cryptocurrency and derivatives.
Jesse Dean’s expert knowledge in project management extends to Brewlabs’ objectives, ensuring that investors’ and end users’ expectations are met. Jesse states,
“We’ve found that cryptocurrency startup projects lack commercial leadership experience, generally resulting in a decline in community engagement, lack of innovation, and poor exposure, which leads to the overall failure of the project. We bridge the gap between a project and them taking the next big step in legitimization, providing value and expanding their capacity in the marketplace.”
Brewlabs is building an entire ecosystem of interconnected products with the Brewlabs token at the centre. These products form a complete package for anyone who wants to get involved, be it a new crypto business or a crypto investor. Below is a detailed summary of all its current and upcoming products and services.
Brewlabs’ Smart Contract Auditing and Engineering Arm Reinforces Trust around Emerging DeFi Projects
Self-executing smart contracts are both a boon and bane to the DeFi space. While, on the one hand, they offer a trustless financial system to exist, they also encourage fraudsters to take advantage of the lack of supervision. When the cat’s away, the mice will play – the crypto domain is rife with counterfeits who develop smart contracts to siphon funds from crypto investors.
Brewlabs aims to put a stop to this – its highly experienced engineering team conducts in-depth contract reviews, covering all elements of a contract, differentiating itself from other audit services that only use software to run their audits. Brewlabs supports new projects that want to create their own token but don’t have the expertise, with its complete contract build service ensuring the highest quality of execution.
An authorized smart contract does reinforce trust around a project; however, it is not the only barometer for a project’s longevity. To make sure a crypto project exists indefinitely, Brewlabs also conducts risk assessments and reviews of a project’s business continuity plan before taking them on board. All these are naturally set to extend to the Brewlabs IDO launchpad and DEX, currently under development, which will only feature projects the crypto community can trust.
The Brewlabs Token Allows its Stakeholders Two Forms of Passive Income
The Brewlabs BEP-20 token offers crypto holders and stakers a chance to double their yields as it has a reflection mechanism incorporated in its smart contract. A reflection mechanism is a new yield generating concept in the crypto world whereby buyers pay a small tax to be added to a token’s liquidity pool, and a percentage of this tax is redistributed among its holders.
Brewlabs tokenomics allows its holders to earn the additional reflection percentage in BUSD on top of the standard pool rewards, thereby increasing their cumulative yield. Brewlabs holders also receive complementary allocations of tokens from the newest customer projects.
Brewlabs’ Suite of Services Help Crypto Businesses Optimize Processes
Besides smart contract engineering and auditing, Brewlabs also offers a few additional services to its B2B consumers that can help optimize processes. Its airdrop solution lets project owners send launch tokens to multiple wallet addresses in one go instead of initiating a separate transaction for each wallet address, which is currently the industry standard.
The experts at Brewlabs have also developed a Telegram community bot that reposts project-specific content on Twitter, Reddit and 4chan in the Telegram channel, thus automating community engagement. The bot allows a DeFi project to take advantage of these platforms and their algorithms, thus generating organic traffic and exposure. Businesses that choose the Brewlabs tokens as the payment option enjoy discounted use of these products.
Developing the Industry-first Cross-chain Bridge
A cryptocurrency specific to a blockchain network is difficult to deploy in another network. The standard procedure involves conversion to a wrapped token, incurring extra transaction costs and time.
“A wrapped token is a cryptocurrency token pegged to the value of another crypto. It’s called a wrapped token because the original asset is put in a wrapper, a kind of digital vault that allows the wrapped version to be created on another blockchain.”
– Binance Academy
Brewlabs is building an industry-first cross-chain solution that removes wrapped tokens from the equation allowing its customers and holders to move across chains directly and inexpensively. The Brewlabs Bridge will also be utilized to create one of the first true cross-chain decentralized exchanges, which in turn will be integrated into the Brewlabs liquidity pool and the future IDO platform.
Brewlabs Exhibits the Potential to Become Industry Leaders in the Coming Future
A trustless and decentralized financial system makes sense as long as it remains true to its consumers. However, without regulations, such a system loses its value over time. Blockchain can transform the world of finances, but with scammers running amok, its true potential suffers unhindered manifestation. This is the very reason the DeFi industry requires projects like Brewlabs that leverages only safe and reliable DeFi projects and products.
The Brewlabs token, which is a Binance Smart Chain token, is one of its kind—being the only smart contract crypto coin in existence. It derives its value from all the promising DeFi projects it is tied to that are either built or audited by Brewlabs. The Brewlabs cryptocurrency has already begun to garner the trust of crypto enthusiasts as 40% of its circulating supply is staked by holders. What’s more, the cryptocurrency was trending at 19 on CoinMarketCap at the time of writing, ahead of Solana.
At the center is the Brewlabs token with some unique attributes like reflections. The token’s value is tied to the smart contracts of some of the most exciting projects that are legitimate and long-term, making it the first-ever smart contract-based cryptocurrency.
Brewlabs addresses the problems of crypto scams and rug pulls head-on by developing a platform that only hosts bona fide projects. It assists emerging crypto businesses through its smart contract auditing and smart contract engineering services to help them rise above the skepticism and establish themselves as legitimate products. In addition, Brewlabs reviews a project’s business continuity to ensure that only serious projects make their way to the crypto community.
Brewlabs is leading the crypto industry in developing a cross-chain supported DEX that will allow the crypto community to keep their finger on the pulse of emerging projects that are foolproof, long-term and trustworthy. So, if you are looking to invest in a new crypto project, look nowhere else as Brewlabs is the one for you. For more information, check out their website and social media handles.
Disclaimer: This is a paid post and should not be treated as news/advice.