TL;DR

• Proposal to whitelist DEFIT.

• Trading liquidity limit of 50,000 BNT.

• There are no security concerns that could prohibit whitelist status.

• There is no reason to doubt the legitimacy of the Digital Fitness project. Defit is a project incubated by Ferrum Network.

• The benefit to Bancor is clear. Providing DEFIT liquidity will attract token LPs from Digital Fitness’ community to swap on Bancor, and increase protocol trade volume.

Token Address: 0x84cffa78b2fbbeec8c37391d2b12a04d2030845e

Project Website: Digital Fitness

Liquidity

The DEFIT pools are:

The DEFIT/ETH Uniswap v2 pool with $363,213 liquidity on Ethereum [1].

The DEFIT/ETH Quickswap v2 pool with $193,311 liquidity on Polygon [2].

A trading liquidity limit of 50,000BNT opens up space for at least $228k of liquidity in the pool, with BNT at $2.28. If the pool fills up, a trading liquidity limit increase may be proposed.

Token Security

DEFIT does not have an elastic supply, or rebase mechanism. The DEFIT token has a max supply cap of 50,000,000 DEFIT. Contracts are ERC-20 contracts. The contracts don’t have any permissions that grant administrators unrestricted mint/burn capabilities. The token isn’t pausable.

The top 15 contract and addresses with the highest concentration of DEFIT are the null address (~11.5m DEFIT burnt), DEFIT/ETH Uniswap v2 contract, team wallets, vesting contracts, bridge pool contract, wallets with 1.4001%, 1.2500%, 1.0811%, 0.5076%, and 0.4849% of the DEFIT supply.

https://aws1.discourse-cdn.com/standard20/uploads/bancordao/optimized/2X/1/1b973df65a6a6ff49e655dc1d3c99a5069c3405c_2_903x576.jpeg

Figure 1 - Top 15 contract and address with the highest concentration of DEFIT [3]

Project

DEFIT | Digital Fitness is a groundbreaking decentralised fitness platform powered by its native token DEFIT connecting people with Health and Fitness professionals worldwide. Pioneer in gamification of the Fitness industry with loyalty rewards and challenges for competing and staying fit and healthy.

The future of Web3 Fitness is here.

Tokenomics

Digital Fitness (DEFIT) is a multi-chain cryptocurrency operating on the Ethereum and Polygon networks. DEFIT is on track to become the #1 cryptocurrency for the global sport and fitness community. Acting as a secure, reliable, and credible alternative to traditional payment solutions for consumer health and fitness products and services, DEFIT applies gamification to reward its community for staying fit and healthy by completing challenges, and receiving rewards by achieving its goals.

Community and Communication

Digital Fitness is active on Telegram. The Digital Fitness team also operates an official Twitter and Medium accounts.

Available Audits

The DEFIT smart contract successfully passed the audit done by Blockchain Consilium. Moreover, all of the DEFIT team members are doxxed and have successfully gone through KYC.

Market and Trading Data

• DEFIT’s price at the time of writing is $0.02373.

• All-time high: $1.31 (8th Apr, 2021).

• All-time low: $0.02262210 (22nd Jan, 2022).

• Price 90 days ago: $0.06017.

• 24,425,989 DEFIT in circulation, with a maximum and total supply of 50,000,000 DEFIT.

• The current market capitalization is $581,500.

• The DEFIT token is available on, among others, ProBit Global, QuickSwap and UniSwap.

[1] https://v2.info.uniswap.org/pair/0x0216b5f9167355c6397db0e99709b9d289f2d5ac

[2] https://info.quickswap.exchange/#/pair/0x580da9c2b04e30d79ffd130698909ef2517cdd0f

[3] https://etherscan.io/token/0x84cffa78b2fbbeec8c37391d2b12a04d2030845e#balances