What Is Zoo Token (ZOOT)?
Zoo Token (ZOOT) is the native token of the Zoo Token Finance platform. Zoo Token Finance is an innovative new platform for meme tokens aimed at helping them enhance their value and, at the same time creating new ecosystems for the users. Meme tokens are cryptocurrencies inspired by memes or jokes on the internet.
As per the whitepaper, the platform aspires to become a convergence point for trending tokens by bringing all of the platforms together. Zoo Token Finance aims to provide a structured ecosystem for these new tokens and make transactions simpler and more efficient.
The platform also has a ZooRelief Fund backed by blockchain technology. The main aim of raising funds here is to support the failing zoos by donating funds. Additionally, the platform has four core components;
ZooPrediction – is a game to predict the rise of trending tokens. The game works like a ‘horse racing game’ enabled by smart contracts. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. Users can use ZOOT to bet on a token they believe is going to win.
ZooIndex - is the electronic chart or index for trending tokens showing the data of real-time growth of a particular token and the trust scores.
ZooPad – is the platform to raise funds for the entire Zoo Token Finance ecosystem.
ZooNFT – is the marketplace for ZooToken Finance’s NFTs powered by ZOOT tokens for all transactions on the platform.
The platform also plans to have a ZooBSC platform, primarily a bridge between Binance Smart Chain and Ethereum blockchain networks to enable cross-chain compatibility. Cross-chain technology is a technology that allows different blockchains to communicate with each other and share data.
Users can get ZOOT tokens by connecting their metamask wallets and can swap BNB for ZOOT. The platform has a 2 percent reward system for the token holders. On every transaction happening on the platform, 2 percent of the value is shared equally between the token holders, including the burn address for burning ZOOT tokens.
Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. As a result, the total supply of tokens reduces progressively to support the token price, and eventually, the token holders' profit increases.
History of Zoo Token (ZOOT)
The smart contracts of ZooToken Finance were audited by TechRate audit company in May 2021. The maximum supply of ZOOT is one hundred quadrillion tokens.
