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CocoSwap Becomes Second Trending Token on CoinmarketCap

CocoSwap Becomes Second Trending Token on CoinmarketCap
CocoSwap Token

CocoSwap Becomes Second Trending Token on CoinmarketCap Just Months After its Launch

CocoSwap secured second place on Coinmarketcap's trending crypto token list on June 17. Coinmarketcap is the platform that nearly 300 million visitors turn to every month who visit the website for crypto rankings, news, analytics, and much more. A mention on the platform's trending crypto token list shows that the majority of the crypto world is noticing the token and Cocoswap has managed to do just that in a very short period of time since its launch.

Cocoswap, the next-generation autonomous performance and liquidity protocol, has risen to second place on Coinmarketcap's list of trending crypto tokens on June 17. $ COCO was trending in Asian markets as well, which is a significant fraternity given that Asia accounts for the majority of cryptocurrency traders and traders.

The native $ COCO token would power the decentralized CocoSwap ecosystem. $ COCO is a progressive deflation token based on the latest DeFi Coin protocol systems. The main purpose of the token is to provide decentralized transaction network transactions with faster time and cheaper exchange fee. The way forward for COCO is determined by market fluctuations. The recent rankings in the top trends table not only show the growing popularity of the platform, but would also help it reach a new user base through a website that has hundreds of millions of visitors each month.

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  • How $ Coco Managed to Get Such an Attraction in a Short Period of Time.
  • Secret Sauce for $ Coco Success
  • Automatic liquidity
  • Manual Burn
  • Static Rewards
  • The Future of Web 3.0
How $ Coco Managed to Get Such an Attraction in a Short Period of Time
CocoSwap Crypto coin

How $ Coco Managed to Get Such an Attraction in a Short Period of Time.

The deflation token model has worked wonderfully, as it distributes 2% to holders, 2% to token burning, and the remaining 3% of the deflationary transaction to project incentives that guarantee the sustenance of the platform. . COCOSWAP tokens are automatically paired with the aforementioned BNB and added as a liquidity pair in Pancake Swap.

Built on top of the Binance Smart Chain, the Coco Swap protocol will allow users to trade cryptocurrencies, NFTs, and other derivatives through its autonomous performance protocol. Liquidity, on the other hand, will allow for simple and hassle-free betting options for users to incentivize the network while earning rewards for their service.

The other reason for its popularity is the all-in-one defi and NFT experience offered by the platform. Defi has become one of the most successful use cases in recent years, growing into a $ 100 billion industry in one year. CocoSwap leverages Defi's functionality to allow traders on the platform to earn more by betting and holding the $ COCO token.

Secret Sauce for $ Coco Success

While there are hundreds of Defi protocols on the market, what propelled Cocoswap to the top was its automatic liquidity funds. Liquidity is a big problem for any new defi project in the absence of a centralized inflow of stablecoins like centralized exchanges. Thus, defi protocols create pools of liquidity where traders stake their tokens for a certain period in exchange for a reward in the form of LP tokens. This form of participation and passive income is also called yield farming. While liquidity could be a major headache for any defi project, Cocoswap's automatic liquidity funds are the secret sauce to your success.

Automatic liquidity

Cocoswap's liquidity funds have a function that acts as a doubly beneficial implementation for holders. First, the contract absorbs tokens from sellers and buyers alike and adds them to the LP creating a solid price floor. Second, the sanction acts as an arbitrage-resistant mechanism that secures the volume of COCOSWAP as a reward for holders. In theory, the added LP creates stability from the supplied LP by adding the tax to the overall liquidity of the token, which increases the overall LP of the token and supports the minimum price of the token. This is different from the burn function of other reflection tokens, which is only beneficial in the short term from the offer reduction granted. This is all an effort to alleviate some of the problems seen with DeFi's current reflection tokens.

Manual Burn

Another factor influencing the popularity and demand for $ COCO tokens is manual burn. While token burns can work as well as not for many token ecosystems. CocoSwap aims to implement a burn strategy that is beneficial and rewarding for those committed for the long term.

Static Rewards

Static rewards are the third prominent secret sauce for cocoswap success. Static rewards solve a number of problems. First, the reward amount is conditional on the volume of the token being traded. This mechanism aims to alleviate some of the downward selling pressure exerted on the token caused by early users who sold their tokens after cultivating very high APYs. Second, the reflective mechanism encourages holders to hold onto their tokens for higher kickbacks that are based on percentages made and dependent on the total tokens the owner owns.

The future of Web 3.0

Cocoswap is working to become a core part of Web 3.0 through its platform and upcoming applications and platforms. The platform is still in the early stages of development and background work will be completed by the end of this quarter.

The third quarter would see the start of the alpha development of COCO Swap. During this phase, the application will develop in a closed alpha. Along with the app developments, the platform would finalize the exchange listings and the COCO Swap beta sign-up waiting list would be launched.

COCO Price Live Data

The live Coco Swap price today is $0.000439 USD with a 24-hour trading volume of $43,556.82 USD. Coco Swap is down 20.49% in the last 24 hours. The current CoinMarketCap ranking is #3521, with a live market cap of not available. The circulating supply is not available and a max. supply of 149,966,767,046 COCO coins.

CoinMarketCap, Data was taken on 8 July 2021

To learn more about CocoSwap visit - https://coco-swap.finance/

Coco Swap Crypto Media Contact:

  • Company: Coco Swap
  • Contact: Edward - Coco Swap
  • Email: info@coco-swap.finance
  • Website: https://coco-swap.finance/
  • SOURCE: CocoSwap

View source version on - CocoSwap Becomes Second Trending Token on CoinmarketCap Just Months After its Launch

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