EXPLAINED: WHAT IS HUMMINGBIRD FINANCE?
Hummingbird Finance is a new cryptocurrency token, which launched in April 2021.It’s a smart contract, or program, built on the Binance Smart Chain blockchain network.
Blockchain technology is at the heart of most cryptocurrencies, including Bitcoin. It can seem complicated, but it’s a kind of database used to record transactions.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun: “Hummingbird’s founders promise to use proceeds from the token to help finance charities to protect the species in the wild and spread awareness.
“But this promise can’t easily be verified, and the way the token works rewards holders for not selling their tokens, and taxing those who do.
“That raises suspicions of an aim to simply drive up the price on a wave of speculation and so traders would be wise to treat the token with extreme caution.”
