Although Arab oil is becoming scarce, the entire region is developing rapidly. The United Arab Emirates (UAE) have created a new economic haven in the middle of the desert, and now the state is ready to challenge Silicon Valley. The Arab crypto industry is growing faster than local skyscrapers. One of the most famous projects of the crypto community in the Arab world is Arabic Cash.
Economy WEB 3.0
In 2018, when investments in Arab fintech projects surpassed a staggering $ 320 million, Sheikh Mohammed bin Rashid decided to completely digitize the Arab Emirates. He announced the launch of the “Blockchain Strategy 2021”, which aims to make the UAE the world leader in digital adoption. This year alone, the government will save up to $ 3 billion that the country is spending on paperwork, according to the Sheikh.
“The introduction of this technology will affect the quality of life in the UAE and increase the happiness of its citizens. By 2021, 50% of government transactions at the federal level will be processed using blockchain technology. This saves time, effort, and resources, and allows people to complete most of their transactions in a timely manner and in line with their lifestyle and work. ”
Largest Arab investment strategy
The independent joint group of Arab developers announced the creation of the “Largest Arab Investment Strategy” in March of this year. A completely new decentralized financial instrument should make it easier to attract global investments into the fastest growing region on earth. We didn’t have to wait long – at the end of March the Arab project of the New Economy 3.0 appeared to the world under the name Arabic cash (ABIC).
After six months of development and several months of private trading, the Arabic Cash project has proven its serious intentions and development prospects. It is rightly the first independent DeFi created to support the United Arab Emirates’ global “Blockchain Strategy 2021”.
Extra round to $ 1
After the full introduction of the ABIC token (BSC BEP20) at the end of July, staking of 35.6% per year as well as trading in 6 crypto pairs will be available on the main page of Arabic Cash + trading on Pancake Swap. The next step is to create your own DEX exchange. Next up – the introduction of the DeFi credit system.
The project closed each of the three private sales rounds with a surplus of the plan. And on June 25, the project prematurely completed the private sale and announced the start of the extra round, during which the price of the ABIC token will rise sharply. During the second half of July, Arabic Cash will be listed on the First Exchange at a price of $ 1.
This decision was made thanks to the open vote of the project community – only 34% supported the idea of an early closure of the public sale and the release of the ABIC token for trading with a minimum price. The remaining 66% voted for the starting bid price of $ 1 and the extra round required to achieve that goal.
As it became known, the extra round will consist of several phases that will raise the price sharply to USD 1. The first phase is currently taking place, in which the token is fixed at 18 cents.
The creators of the project assure that in addition to the funds raised during the private sale phase, additional funds from the founders of Arabic Cash themselves will flow into the project’s liquidity pool. Remember, the founders are considered an association of large real estate companies in the United Arab Emirates. Apparently the Arab maximalism manifests itself here when the price is immediately increased by x10 from the pre-sale.
The final checkpoints of the extra round on the way to $ 1 were announced this week:
▶ ️ The first phase ($ 0.18) ends on July 13th – the transition to the second phase
▶ ️ The second phase begins July 13-22 – the price is $ 0.36
▶ ️ The third phase starts July 22-28 – the price is $ 0.72
✅ July 29th Introduction of ABIC on Pancake Swap – Price $ 1
Few in history have ventured as boldly as this, but when you look back on the most striking example – pancake swap – the picture is rosy. On the first day of public trading, the price of the token was increased by $ 1. Exactly one day later, the price collapsed by 60%. But after 12 days the CAKE token leveled off again at 1 USD and after another 4 months the price of the token was over 15 USD. And this against the background of a falling global trend in Bitcoin.
At the moment, the Arab cash community is showing a confident attitude towards HODL. According to the latest survey data within the Arabic Cash community, 83% of ABIC investors are willing to hold the coin for six months or more. This clearly speaks for the strong position of the project already in the pre-sale phase.
You can use ABIC tokens on the Official website of Arabic Cash. Join the community through the Telegram Arabic Cash Link.
Disclaimer: This is a paid post and should not be treated as news / advice.