PSOL, $MMY, and NX tokens are trending – Defi market wrap
Parasol Finance is the first community governed IDO platform worldwide. The team has built it on Solana, considering the needs of both investors and projects. The company also launched its native utility token on December 12, 2021. The sale will end on January 1, 2022. PSOL token’s price is $0.210000, and only 42% of the total supply is available for purchase during the initial coin offering. The team accepts USDC in exchange for its tokens.
The token holders will have various advantages. For instance, they will have a right to participate in the network’s governance and vote on projects. This governed platform will be an integral part of bringing existing and new projects and protocols into the Parasol ecosystem, giving users the possibility to invest early. Parasol and its token will enable projects to further develop with partners. PSOL will also aid in the development of its own network.
By using the DAO structure, the token owners can use Parasol Finance to participate in the governance decisions of the platform. For example, they will decide pools ratio on upcoming IDO or vote to choose the IDO for launching on Parasol. In addition, users can stake the tokens and gain money.
How many tokens are in circulation currently?
The company plans to launch its platform on January 7, 2022. It created 21 million PSOL coins initially. The team has distributed the total supply in the following manner: 3,045,000 tokens (14.50%) will go to liquidity providers (distributed retroactively to existing liquidity providers); 105,000 $PSOL (0.50%) is set aside for launch rewards; 3,150,000 $PSOL (15%) will go to ecosystem development, 1,470,000 $PSOL (7%) is for the team; 4,410,000 $PSOL (21%) goes to the Private Sale; 4,410,000 tokens (21%) are for the marketing and rewards, and 4,410,000 $PSOL (21%) is set aside for the Public Sale.
Token sales are a crowdfunding tool. The startups and projects use them to build capital or launch a new project. In a token sale, investors acquire a certain amount of new cryptos created by the organizers in exchange for other cryptocurrencies (e.g., USDC, Solana). Users sometimes call token sales IDOs (initial decentralized coin offerings).
How does Parasol Finance Token work?
Parasol Finance (PSOL) token is based on the Solana blockchain and SPL standard. As a result, the team guarantees that this token will work properly in the ecosystem. Customers can also use them in other decentralized programs without any problems. According to the company, the SPL standard ensures that the coin meets the security requirements that are common in the industry.
During the presale of the token, 42% of released PSOL (21,000,000) will be available to the public and private sale participants. The company will transfer unsold tokens to the crowd sale if there are any left by the end of the presale.
What does the Nxtech Network offer?
The team launched Nxtech Network as a prototype for automated market makers (also called AMMs). This type of exchange allows any user to pool assets into shared market-making strategies. Furthermore, customers will be able to store their digital assets in a secure crypto wallet, as well as swap any token in an instant. They will be able to do the latter with a minimum transaction fee if they use the same platform.
The company launched its native token NX on November 29, 2021. The sale will end on December 25, 2021. 272,475,200 NX (13.62% of the total supply) are available for purchase during the initial coin offering. The token price is $0.001000, and users can buy it on the Pinksale.finance platform. The team aims to raise $466,131 with the sale, and it accepts BNB in exchange for NX.
Even though Nxtech is a relatively new project, it has already garnered investors’ attention. This network will serve as a critical infrastructure for decentralized finance. It will empower traders, developers, and liquidity providers to participate in a robust and secure financial marketplace. NxTech’s goal is to build infrastructure, protocols, and user-facing products for the future of finance.
The company aims to create a secured mobile and web wallet, including. It is also working on Crypto Swap in one platform, which will serve as a means of gaining wallet market share and as a battleground for mind share.
How can token holders use NX?
The platform utilizes its native token through delegated Proof-of-Stake and settlement for transaction fees. The team based $NX token on the Binance blockchain.
However, the company requires users to stake NX tokens if they want to earn the rewards. Staking will also enable customers to use tokens for crypto swaps and settlements. There is also NxTech L2, which provides a low-fee and high-speed platform for trading, storing, and swapping digital assets.
NX initially enables traders and investors to announce their availability, but it also functions as a way for contributors to participate in development and governance. According to the team, this token is the gateway to joining and contributing to the NxTech community.
Mummy.io’s ICO will also start soon
$MMY is a trending token. It belongs to Mummy.io’s platform. The latter plans to introduce an incredibly immersive and free P2E game. Mummy will send players hunting for lost NFTs in an ancient virtual world of great civilizations, bringing together gorgeous visuals, blockchain’s new play-to-earn model for gaming, and advanced character customization in an expansive 3D fantasy world, where users will be able to earn crypto.
The team tied the game’s robust economy to the Mummy Metaverse with a combination of assets (NFTs). Players will be able to stake their MMY tokens and NFTs, and as a result, they will enjoy the full gaming experience.
Anyone can earn tokens through skilled gameplay in this Ancient World-inspired universe. They can also gain MMY by contributing to the ecosystem. Gamers will battle, explore, collect, buy, stake, and trade NFTs in the form of land, cards, treasures, and other in-game items.
Furthermore, the open-world metaverse will support building custom kingdoms, as well as decorating buildings. Players will have an opportunity to invite other users to visit their lands. The company aims to bring P2E gaming to new heights with compelling quests, adrenaline-fueled battles, gorgeous visuals, and advanced character progression and customization.
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