Encircled Introduced Its Hot Token, ENCD. Don’t Miss It

Encircled is a new project that wants to revolutionize the crypto industry. While blockchain and Web3 have many advantages, there are still too many obstacles to overcome. The company aims to provide solutions for the industry’s current problems. The end game is to achieve mass adoption of these technologies.

The company is launching its hot ICO token on February 1, 2023. The sale will end on March 15, 2023. The total supply of ENCD is 200,000,000, but only some percentage will be available for purchase at this stage. The platform will accept USDT, DAI, and BUSD in exchange for its utility tokens.

Cryptos and similar digital currencies are becoming more and more popular. Many market reviewers routinely include cryptocurrencies’ prices and other major fiat currencies. That means they are becoming mainstream. Moreover, S&P 500 and Dow Jones employ several indices, monitoring the performance of major cryptocurrencies. PayPal and Visa added service that enables users to swap between fiat and digital currencies. Thus, the token holders can make payments to millions of merchants worldwide by using cryptos.

Investopedia reported that in 2022, there were more than 18,000 digital coins on the market. While many of these tokens have little or no communities, some of them are thriving and generating substantial income for their investors. The main fact is that the crypto industry is growing rapidly, and many market participants claim that the future belongs to it. However, launching new crypto projects and getting them noticed is difficult. Making sure that it stays afloat is another challenge. Most founders and developers need help to achieve that goal and succeed.

What Obstacles Does The Industry Face?

The Encircled team pointed out that one of the main issues is security. Cryptos are perceived to be one of the most secure currencies around the world. Even though blockchain uses an encrypted system, and it’s virtually impossible to break it without a key, there are still some loopholes regarding the security and safety of the client’s funds.

The demand for cryptos is growing so fast that security expertise sometimes needs to catch up. According to surveys, 92% of blockchain and crypto projects have failed globally. One of the main reasons for failing is their inability to secure networks and ensure that users’ data is safe. Consequently, scammers easily break through such systems and steal the tokens. For example, the Ronin platform lost tokens worth almost $620 million to scammers in March 2022.

Platforms can lose money due to extortion or ransomware. AI bots also scour the internet and look for weak links. Usually, people, storage areas, and services functions are the easiest to exploit. The Chainanalysis stated in its 2022 Crypto Crime Report that in 2021, losses from cryptocurrency-related crime jumped to 79% from the previous year, reaching $14 billion. That is the record amount thus far.

Furthermore, criminals stole $3.2 billion worth of digital currencies last year. And 72% of these stolen funds came from various DeFi protocols. Unfortunately, so-called Rug pulls are one of the most common schemes on the market. This term applies to the situation when developers build what seems to be legitimate cryptocurrency or Defi projects. They even set up wallets and create whole platforms, offering the investors new enticing tokens and promising them fast returns. However, developers simply drain and vanish after investors start trading with this token and add them to liquidity pools.

What Are The Encircled’s Solutions?

The company proposes to create TRUST. It thinks the latter will prove to be a good solution as it will provide trustworthy information and a safe space for founders, developers, and new investors. On the other hand, this project will make it difficult for scammers and criminals to prey upon crypto users.

Furthermore, Encircled will create a safe environment where founders and investors find each other easily. The project will become a one-stop integration for launching new Defi projects. It will connect these start-ups with the entire cryptocurrency community. Thus, project creators, investors, and developers will have an opportunity to work together. What’s more important, they will know that their investments are secure.

The team hopes that this space will become a hub for new ideas. New users will have an opportunity to learn about Defi and brainstorm new ideas. They will also have a chance to find team members and build teams. When they get a general idea about what they want to do, they can work on developing the project and attracting investors.

Meanwhile, VCs and private investor groups can find promising creators and fund their projects to generate income. Encircled will offer three interlinking products to achieve that goal. The team designed all of them specifically for crypto users.

Overall, Encircled will become a one-stop integration for launching new Defi projects and connecting with the entire cryptocurrency community. The latter include developers, investors, and project creators.

What Are Encircled’s Three Products, And How Do They Work?

According to the team, these three key products are like the interlocking Borromean Rings in the center of the company’s logo. While any two stands separate from one another, together, they remain interlocked. These rings are an ancient symbol, portraying strength through unity. The company stated that this wreath is a symbol of the protection it will offer to its clients. It also symbolizes the success and prosperity the team wishes for its customers.

The company will launch three products: Encircled Connect, a social networking platform; Encircled Learn, an educational platform; and Encircled Launch. The latter is a platform for launching crypto projects and new tokens.

Encircled aims to keep its community safe and offer newbies education. The company will develop and represent a safe Defi space for founders, investors, and developers. It will also offer a world-class platform for the users to connect, interact, develop new projects, and invest. Overall, this project has strong potential. It also boasts a well-developed roadmap.