A live meeting was held by Omar Khan (CEO of Innovation Factory) on 15th April 2024 at 8:00 pm. The meeting lasted for almost 3 hours and 12 minutes and I attended the meeting till the end. This is the biggest and most important announcement made by Innovation Factory so far. So in this post, I will tell you what the Blove coin update is and what the biggest announcement is made.
I give you a short overview of this meeting: The Blove coin update about listing, the Blove token name change regarding, total supply, the Blove coin burring, the Blove transaction gas fees, the Utility of the Blove coin and the last AI flash loan attribute project. So read the full post, and we can predict the good or bad future of Blove coin
BLove Coin Update about the Listing, Blove token name and its Supply
BLove Token was launched on March 2023 on their official BLove Network apps. And today he is almost 1 year old. Recently, Omar Khan announced in a live meeting on 15th April 2024 that the BLove token will no longer exist till 4th May 2024, it will now become the BLove coin. That is, he said in plain language that from May 4, 2024, the BLove coin will be able to trade on Xchangeon.
Blove coin will be listed at $0.0123 on XchangeOn and you can easily buy and sell it. One question that is always in the mind of the investor is how much is the supply of the coin.? Omar Khan said that at the time the Blove token was launched, its supply was 3 trillion and 20% was being burned every month. Now we are listing it on XchangeOn with a supply of 20 million. And to take it to around $2 by September 2024, the company has a very pearly strategy in place.
You may be thinking that if there is a 20 million supply, how will this Blove coin reach $2 by September 2024? The complete strategy is explained in the next paragraph.
Related Post: How to Create Account on Xchangeon
How Much BLove Coin Burn every month and Why
Many new investors do not know what is burning in the crypto market. First of all, let us know what is burning with an example.
Example: Suppose I have listed a coin called “XXX” on XchangeOn. Its total supply is 1 million. Me and my team decided to burn 1% coins every month. A 1% coin burn in the first month means if 1% goes from 1 million then 990K will remain in supply. That means 10K coins removed from supply. This entire process is called burning.
The biggest question is what is the benefit of burning? However due to burning, the supply of the coin decreases and due to the decrease in its supply in the market, the price of the coin also increases due to the increase in demand.
Following the above concept, Omar Khan has announced that this BLove Coin will be burning 10% every month. And this burning will be done for 2 years i.e. 24 times. That means the price of BLove Coin will keep increasing every month. They have also said that after 2 years BLove Coin will hit $200.
How Much are the Gas Fees Charged on Blove Transactions?
Umar Khan has clearly announced how much gas fee will be charged for each BLove Coin Transaction. Let’s know it first
When you transact BLove coin, you will be charged a 1% Gas Fee. You may think that I am losing 1% BLove Coin per transaction. But you are thinking wrong. When your 1% BLove Coin is deducted it will be credited to the burning wallet. After one month after burning 1% of it will get tokens on the Solana platform. That token will remain at the Innovation Factory. This token will be traded from day one.
Which AI Utility comes with a BLove coin?
What does utility mean for a coin? Let’s find out with a practical example. Example: If you go to a shop and want to buy a car, you have to pay some money to get the car.
Blove coin is listed with AI utility from day one. But which one it will be has not been clearly stated yet, we will know in the coming days. Having the utility of a coin means that its price will increase in the future.
What is the AI Flash Laon Project?
AI Flash Loan project has been launched by Innovation Factory. First of all, let’s know what exactly is this project.
Let us consider BitCoin as an example. BitCoin is being traded on 50+ platforms and if you look very closely you will see the price going down or going up by 1% on each platform. This 1% gap depends on how much BitCoin is being sold and bought on that platform. This 1% gap is called an arbitrary gap.
Innovation Factory has launched an AI Flash Loan project on this concept. additionally, Omar Khan also claims that you can make $500 to $1000 in minutes using this platform.
Related Post: B Love Network Real or Fake: New Update 2024
Conclusion
Blove coin update 15 April 2024 This is the biggest announcement by the innovation factory that 4 May 2024 lists BLove coin on Xchangeon at $0.0123 with 20 Million supply. Also, the company predict price in September 2024 will be around $2. This BLove coin update also announces 1% gas fees on every transaction.
Additionally, If you have any doubts or questions about it feel free to comment in the below section I will answer you. Don’t forget to share this post with your friends or audience.
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