We’ll talk about the Coco Swap project and COCO token in this article and tell you what is its smart contract features, protocol, tokenomics, and how and where to buy this coin…
Coco Swap is a deflationary, decentralized autonomous yield network that allows users to trade cryptocurrencies, NFTs, and cryptocurrency derivatives without relying on a central authority. The liquidity, on the other hand, will allow users to stake easily and efficiently while receiving rewards for their service.
Smart Contract Features: Coco Swap Token
Static Rewards, LP Acquisition, Manual Burn
The unpredictability of liquidation payouts from staking an LP (liquidity provider) in a farming reward generator is a widespread misconception with the high APY average. We’ve seen too many new cryptocurrency prospectors get lured into a high APY LP-farming trap, feeling hopeless as they are pushed out by earlier buyers with greater staking benefits, with the rise in DeFi.
However, the token is typically subjected to an inevitable valuation bubble that is then followed by a burst and a price collapse. This is why static rewards, often known as reflection, have become so popular. It’s a separate concept that seeks to alleviate the issues caused by farming rewards.
COCOSWAP has three easy steps: Reflection + LP acquisition + Burn-In for each trade, which is taxed a 7% fee and distributed two ways.
- 2% fee = Redistributed to all existing holders
2% fee = Burned
3% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the COCOSWAP tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
What are static rewards?
The static reward is a separate concept that aims to eliminate the problems caused by farming rewards and solve a variety of issues. Firstly, the amount of money paid out is determined by the amount of cryptocurrency traded. The purpose of this mechanism is to lessen some of the downward sell pressure placed on the token by early adopters who sold their tokens after earning crazy high APYs. Secondly, the reflect mechanism encourages investors to hang on to their tokens in order to earn bigger kickbacks, which are determined by the percentage and it depends on the total amount of tokens held by the owner.
Burns are not always serious. A continuous burn on any one protocol may be appealing in the early stages, but it prevents the burn from being finite or regulated in any way. The community is rewarded and notified when burns are controlled by the team and highlighted based on accomplishments. The procedures of the manual burn and the quantities burned may be advertised and tracked.
CocoSwap’s goal is to set up a burn plan that will be profitable and gratifying for people who participate in the long term. In addition, the total number of COCOSWAP burned is displayed on their website’s readout, allowing for greater transparency into the current circulating supply at any given moment.
Automatic Liquidity Pool (LP)
The Automatic LP is what makes COCOSWAP different. It helps you get more tokens into your wallet, and also prevents prices from rising above the set LP.
Additionally, penalty acts as an arbitrage-resistant mechanism, which secures the volume of COCOSWAP as a reward for the holders. In theory, the added LP will increase the total volume of COCOSWAP tokens, thus providing stability from the additional LP. This is different from the burn function of other reflection tokens which only benefits the holders in the short term and not in the long run because it reduces the total amount of available tokens.
As the price of the token increases, its value goes up too, and this has the effect of stabilizing the value of all COCOSWAP tokens during the entire process of the token sale. This allows for a smoother increase in value for all COCOSWAP tokens, so the price doesn’t fluctuate and the value of all COCOSWAP tokens remains steady throughout the entire process of the token sale.
This effort is about helping alleviate some of the trouble we have seen with the existing DeFi reflection tokens. Coco Swap is confident that this model and protocol will prevail over the outdated reflection tokens for these reasons.
Web 3.0 Coco Swap platform
Web 3.0 Coco Swap platform has the potential to provide features such as a farm system, which will allow people to stake and earn tokens. This could also mean that the liquidity of the network will increase, resulting in a higher demand for Coco Swap, and therefore, Coco Tokens.
Cocoswap Farms is an app that will offer several farming opportunities for its users. They can earn COCO tokens by staking their LP tokens in the farms. It will provide many liquidity pairs with a way to participate in the platform’s liquidity pools, while also providing a way for liquidity providers to earn LP tokens.
Max Supply: 149,966,767,046 COCO token
Slippage tolerance: 8%
Goes to holders: 2 %
Token Burn: 2 %
Project incentives: 3 %
How and where to buy COCO token?
COCO token is now live on the Binance mainnet. The contract address for COCO is 0x9AA6FC71aed1130DeE06a91A487BF5eA481dE80D. If you’re unsure about a smart contract, perform extensive research before making a purchase. Avoid purchasing any other token with a different smart contract since this can be easily faked.We strongly advise you to be cautious and safe throughout the launch. Don’t let your emotions lead you the wrong way.
- You’ll need to buy one of the most popular cryptocurrencies, most often either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or Binance Coin (BNB).
- Once you’ve completed the KYC procedures. You’ll be prompted to add a payment method. You have the option of using a credit or debit card or bank transfer and purchasing one of the major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
- You need a wallet address to Connect to Pancakeswap Decentralized Exchange
- You may transfer $WBNB from your existing wallet to your new one.
- Connect your new wallet to Pancakeswap Decentralized Exchange and Buy, Swap COCO token
COCO token contract address: 0x9AA6FC71aed1130DeE06a91A487BF5eA481dE80D
PancakeSwap (V2) is currently the most common marketplace for trading COCO tokens.