PIG

Overview of PIG

Pig Finance, commonly known as PIG, is a cryptocurrency that was launched in 2021. Due to its decentralized nature, the founders of this digital coin remain anonymous, much like the creators of many other cryptocurrencies. PIG is mainly supported by the PancakeSwap exchange, suggesting its underlying blockchain is Binance Smart Chain. To store PIG tokens, two wallets are typically used - Metamask and Trust Wallet.

Pros and Cons

What Makes PIG Unique？

Pig Finance or PIG differentiates itself from many other cryptocurrencies through its tokenomics and its automatic liquidity feature. With each transaction, PIG enforces a 2% tax, which is distributed among its holders, thus incentivizing long-term holding and stability. An additional 3% tax goes into the liquidity pool on PancakeSwap automatically, making the token somewhat self-sustaining and less prone to volatility.

Another distinct feature of PIG is its anti-whale mechanism, intended to prevent any holder from owning more than 5% of the circulating supply and making huge sell-offs less likely.

How Does PIG Work？

Pig Finance operates on a decentralized blockchain protocol - the Binance Smart Chain - and utilizes a set of distinctive features in its operations often referred to as 'tokenomics'. At the heart of PIG's working mode is an imposed tax on its transactions with the aim of promoting long-term holding and ensuring liquidity.

Each time a PIG transaction takes place, a 5% tax is imposed. This tax is then split: 2% is redistributed to all current PIG holders, rewarding those who hold onto their tokens, and the remaining 3% is automatically channeled into the liquidity pool on the PancakeSwap exchange. This automatic provision of liquidity means the PIG token maintains relative stability and can react objectively to market demands, making it somewhat self-sustaining.

Another key feature of PIG's working principle is its anti-whale mechanism. This is a protocol implemented to prevent any single holder from owning more than 5% of the total supply of PIG, thus preventing massive sell-offs, which could lead to a market crash.

Exchanges to Buy PIG

Pig Finance (PIG) is primarily traded on decentralized exchanges that operate on the Binance Smart Chain, given the native compatibility between PIG and this blockchain platform. Here are ten exchanges where one can purchase PIG, including their supported currency pairs and token pairs.

1. PancakeSwap (V2): It supports the PIG/BNB pairing.

2. 1inch Exchange: Here, users can trade PIG against multiple tokens supported by the exchange, including top tokens like BNB.

3. BakerySwap: This exchange supports the trading pair PIG/BAKE.

4. JulSwap: It allows users to trade PIG with cryptocurrencies like BNB.

5. ApeSwap: Here, PIG can be exchanged with BANANA or other supported tokens.

How to Store PIG？

Pig Finance (PIG) tokens can be stored in any wallet that supports Binance Smart Chain (BSC) tokens. Two popular wallets that are compatible with PIG are:

1. Trust Wallet: This is a mobile wallet for Android and iOS that supports multiple cryptocurrencies. It supports all BSC tokens including PIG. Trust Wallet is a user-friendly platform with a simple interface, making it suitable for beginners.

2. MetaMask: Initially a wallet for Ethereum and ERC-20 tokens, MetaMask can be configured to work with the Binance Smart Chain and therefore can hold PIG tokens. MetaMask is a browser-based wallet extension available for Google Chrome, Mozilla Firefox, and other mainstream browsers.

Should You Buy PIG？

The purchase of Pig Finance (PIG) tokens, like any cryptocurrency, should be considered by individuals who comprehend the inherent volatility, complexity, and risks associated with the crypto market. It may be more suitable for those who have the following characteristics:

1. Understanding of Crypto Space: Individuals who have a solid grip on blockchain technology, and can understand the fundamentals of cryptocurrencies and tokens such as PIG. This includes an understanding of decentralized finance, smart contracts, and tokenomics.

2. Risk Tolerance: Those who are willing to accept the significant price volatility that comes with cryptocurrencies. As a relatively new entity, PIG is susceptible to large price swings which can lead to substantial gains or losses.

3. Long-Term Investment Mindset: Given incentives like redistribution of transaction tax to holders, PIG could potentially suit investors with a long-term holding view rather than those seeking short term benefits.

4. Technically Proficient: Users familiar with using decentralized exchanges (DEXs) like PancakeSwap and digital wallets like MetaMask or Trust Wallet. The process to buy and store the PIG tokens might require a certain level of technical competence.

FAQs

Q: What is the background of Pig Finance？

A: Pig Finance, abbreviated as PIG, is a decentralized cryptocurrency that was introduced in 2021 and operates on Binance Smart Chain.

Q: Which trading platforms support the transaction of PIG？

A: PIG transactions are primarily conducted on decentralized exchanges that work with Binance Smart Chain, such as PancakeSwap, 1inch Exchange, and BakerySwap among others.

Q: How is the PIG token stored and which wallets does it support？

A: PIG can be kept in any wallets that are compatible with Binance Smart Chain tokens, with MetaMask and Trust Wallet being two common options.

Q: What differentiates PIG from other cryptocurrencies in the market？

A: PIG is distinguished by its particular tokenomics that encourage long-term holding and self-sustainability, including a transaction tax and an anti-whale mechanism.

Q: How does the operational model of PIG work？

A: PIG imposes a tax on each transaction, where a portion is redistributed amongst token holders and another portion is committed to the PancakeSwap liquidity pool, on top of maintaining an anti-whale mechanism.