BACKED Protocol Announces Entry Into P2P Crypto Insurance as June 28 Presale Nears

BACKED.insure, a P2P cryptocurrency insurance protocol, has announced its market entry beginning with a June 28 presale of its BACKED Token ($BAKT).

$BAKT is an ERC-20 token that will power transactions within the project's ecosystem.

$BAKT's Presale

The firm will hold the presale on its website starting from 13.00 UTC. It follows its recently successful completion of the seed phase. During that event, investors snapped all the $BAKT on offer in 20 minutes, indicating their confidence in the project.

To participate in the presale, you need to link your Metamask wallet account to the BACKED website and load it with Ethereum (ETH). You then proceed to place your order for the Token. $BAKT seeks to raise 400 ETH during this round.

Invest in $BAKT From As Low As 0.1ETH

You may invest anywhere from a minimum of 0.1 ETH to a maximum of 1ETH. The firm will proceed with its Initial Decentralised Exchange Offering as soon as it concludes the presale. Keep Checking their Twitter and Telegram channels for the details.

During the presale stage, BACKED insure will peg 1 ETH to 95,387 $BAKT. On listing, the ratio will shift to 1ETH to 79, 429 $BAKT. The presale is thus the right time to maximize your acquisition of the Token.

Why $BAKT is Your Kind of Investment

$BAKT is more than your usual crypto-insurance product. It's the first of its kind to offer you a fully automated trading experience through its embedded smart contracts.By keeping true to decentralization, the project guarantees you a genuine P2P experience. This way, it gives you total control over your policies and interactions with other investors.

Besides these, you can look forward to the following exciting features:

Participate In The Upsides Without The Downside

AiVIF in $BAKT ensures that you benefit from the market upsides without worrying about the downsides. You can insure your holding against 100% devaluations.

$BAKT is Anti-deflationary

The project's users will pay for their premiums in $BAKT. Its fixed supply is 100 million tokens. Eighty-five million of these go to general circulation, while the remainder is for research and development.

The protocol will charge you a 10% fee to complete transactions. It then uses a smart contract to burn all these fees, thereby reducing the Token's circulating supply. This anti-deflation measure ensures that the value of your Token will keep growing.

Fully Customizable Contracts

BACKED's personalization feature allows the users to create contracts suited to their needs. It doesn't matter if yours is a short-term or long-term contract; the platform gives you the flexibility to draw contracts to your satisfaction.

Launch Your Insurance Business

$BAKT's major shift is providing you the opportunity to use its platform to go into the insurance business. Now you needn't be the client that only purchases insurance products from other parties.

You can be the insurer, drawing an income from the premiums you're paid for your underwriting services.

Dependable Team

The team behind the project is highly experienced. They bring a wealth of experience to the protocol, having participated in the development of other major projects. One case in mind is the YOP protocol.

Again its developers are certified professionals from Evacodes. Further, the protocol will conduct a thorough KYC of the team.

$BAKT Tokenomics and Governance

As stated earlier, the project has a permanent supply of 100 million $BAKT tokens. Research and development lock 15% of these while the rest goes to the general supply. The protocol will gradually unlock the 15% earmarked for RD.

$BAKT is also the project's governance token. The Token's holders wield voting rights on the platform and its evolution. The community ensures that the project stays true to the investors' needs.

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