What Is KokoSwap (KOKO)?
Trading under KOKO, KokoSwap is a decentralized platform working on the blockchain network where users can trade, earn, play, and win. According to the website, it is a platform that combines both non-fungible token (NFT) trading and blockchain gaming. Thus, it is a one-stop place for users interested in staking cryptocurrencies, trading digital assets, and playing games on the blockchain.
The whitepaper claims that gaming in the crypto environment is a largely untouched area with a lot of potential. It is also found in data studies that there is an intense desire in the business world to develop new methods to use the potential of cryptocurrency. Thus, the platform aims to become a platform where users can trade, understand, and learn about different tokens and cryptocurrencies simultaneously.
KokoSwap is working on offering improved access to a range of services by using decentralized finance (DeFi). The platform is also helping its users by providing stability in token pricing and capitalizing on promising technology. The whole project is built on the Ethereum blockchain. The project has provided the following three dimensions:
KokoSwap: KokoSwap is a publicly owned and self-sufficient cryptocurrency ecosystem. The protocol provides its users with a platform to exchange tokens and increase their value. KokoSwap is an automated market maker (AMM) that allows two tokens to be traded on the blockchain. AMM is a tool utilized to supply liquidity (token pool) in decentralized finance (DeFi) without the intervention of a third party to set the price of an asset.
KokoStake: KokoStake is a staking platform on the KokoSwap ecosystem, where users can increase their income. It simply provides both users and investors with the opportunity to stake tokens and claim incentives on them. Users can stake their idle funds and get higher returns.
KokoAvatar: Role-playing games are one of the critical gaming genres where NFTs are not being used extensively. Thus, KokoAvatar aims to hit the role-playing game industry with NFTs. According to the whitepaper, KokoAvatar is an invite-only exclusive NFT platform. The platform provides a trusted environment for celebrities to debut in NFT platforms. This helps celebrities connect with their fans and elevate their brand. Moreover, the platform is where users can trade customizable skins, accessories, and limited-edition merchandise. These things can be traded or auctioned in between players.
The platform’s native token is KOKO. Its ticker name is also defined as KOKO. It is both a utility token and a governance token. KOKO is an ERC20 standard token.
The token can be used for staking, providing extra rewards to the users. The token is also used for purchasing weapons and equipment in the game. Also, while trading NFTs on the platform, a small amount of KOKO is deducted from the user’s fee. Furthermore, the token is used as a governance token, as the holders have the right to participate and vote in the process. They can also determine how profits are spent and the future development and expansion of the game.
History of KokoSwap (KOKO)
The platform was launched in the second quarter of 2021. The token was also listed in the second quarter of 2021. The maximum total supply of the token is 330,000,000 KOKO.
How Are New KokoSwap (KOKO) Created?
A user can create new KOKO tokens with the process of staking. The staking period is a minimum of one year, and it lasts for a maximum of two years. Also, a user can earn KOKO tokens by playing games on the platform. Further, a user can earn KOKO as a reward by locking some tokens in the liquidity pool. By this, the liquidity providers will be able to earn revenue.
