In recent times, a new addition to the cryptocurrency family has emerged: Eclipse (ECB). Developed on the BNB Chain, this token has quickly become the focus of investors’ attention. So, what is Eclipse, and what are analysts saying about the ECP? If you’re curious about the answers to these questions, you’ve come to the right place. In this detailed guide by Zatrun.com, you can learn about the project.

What is Eclipse and How Does It Work?

Since the release of Ethereum’s (ETH) smart contracts, the usage of smart contracts and Dapp development has increased tremendously. As a result, many large smart contract platforms like BNB Chain, Cardano, and Solana have emerged. The developers behind Eclipse are particularly interested in smart contracts on the BNB Chain.

As the popularity of smart contracts increased, so did the number of people wanting to make a profit through malicious means. Many rug pull incidents have occurred where crypto developers abandoned their projects on BNB and fled with user funds. Some of these were high-profile projects. Eclipse released a series of analysis tools for users to evaluate BNB projects and monitor the project process.

The Eclipse project relies on the ECP coin and BNB smart contracts to provide power to service platforms. The project operates with a similar structure to other projects such as SafeMoon and has three regulation functions: Reflection, LP acquisition, and burning. The project team believes that this structure helps reduce potential problems and provides sufficient rewards to token holders.

Smart contracts have an embedded function that deducts a 6% fee for each transaction. The contracts then distribute half of the fee in the “Reflection” process to ECP coin holders. Smart contracts then divide the other 50% of the fee in half, selling the first half (1.5% fee) to BNB and using the second half to acquire LP at PancakeSwap. Additionally, a portion of the token supply is burned to restrict liquidity, reduce supply, and increase the price.

What is ECP? Is It a Good Investment?

With ECP coin, users can vote on platforms on the BNB Chain and examine the project’s potential with analysis tools. However, holding ECP tokens allows users to earn passive income. The owners of the cryptocurrency receive a certain portion of gas fees collected from transactions performed on the platform. This helps increase their assets in the form of cryptocurrency.

Experts are not painting a positive picture of ECP coin for now. CoinMarketCap has included the Eclipse project on the list of “Untracked Tokens.” This means there could be a problem with the project.