InfinityDot (IDOT) is the first-of-its-kind Polkadot reflection token that runs on the Binance Smart Chain. Binance Smart Chain (BSC) is described as a blockchain that runs in parallel with Binance Chain. The tokens are rewards that are earned by simply holding tokens, and these particular rewards come in the form of Polkadot on each transaction. Polkadot is a network protocol that helps in transferring arbitrary data along with tokens across blockchains.
According to the whitepaper, the mission of InfinityDot (IDOT) is to bring decentralized finance (DeFi) to the people. Decentralized finance aims at utilizing technologies for removing middlemen, banks, and intermediaries from financial markets, but entering into DeFi is not so easy as it is a highly complicated system. The primary objective of InfinityDot aims to make the process simple enough for each and every individual to be capable of generating passive income without the need of understanding a complex DeFi system.
InfinityDot (IDOT) token was an initial step toward attaining the goal of simplifying the process of entering into a decentralized finance world. Furthermore, IDOT is referred to as an innovative reflection token that aims to be capable of paying dividends in a pre-established token. These dividends are being paid in the form of Polkadot.
The next steps toward the achievement of the desired goal included the launch of a 3-click app. As per the whitepaper, the developers of IDOT have aimed to develop an application that claims to be clean, clear, and very simple to operate. The application is designed with the major goal of revolutionizing the decentralized space and fostering the adoption of cryptocurrency in a secure, easy, rewarding, and safe way.
