New cryptocurrency FIREPIN Token, which launched its token presale on February 25th – ongoing until mid-April – promises to shake up the crypto market. The token promises to bridge five major blockchains: Ethereum (ETH), Binance Smart Chain (BNB), Avalanche (AVAX), Solana (SOL) and Polygon (MATIC), enabling investors to complete transactions in seconds as they can find the cheapest and quickest network for a specific transaction at any given time.
FIREPIN Token
The immediate plans for the rollout of FIREPIN Token (FRPN) involve launching the token on PancakeSwap, whilst also aiming for listings on token-tracking platforms such as CoinGecko and CoinMarketCap, eventually culminating in the launch of its decentralised exchange (DEX); FIREPIN Swap.
The primary focus of FIREPIN (FRPN) is to create a community-centric ecosystem designed around the development of NFT games, 3D technologies and the Metaverse-based gaming industry.
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The whitepaper for FIREPIN Token (FRPN) has stated that it plans to build an innovative NFT marketplace in Stage 3 of the rollout, wherein community members will be able to exchange their FIREPIN NFTs through FIREPIN’s Proactive Market Maker (PMM) algorithm.
Additionally, the whitepaper also states that the project will eventually become a Decentralised Autonomous Organisation (DAO), meaning that decisions regarding the currency will ultimately be decided by holders of the token. This will eliminate human error and manipulation of investor funds by democratising the token and placing it into the hands of an automated system.
The group behind FIREPIN Token (FRPN) have claimed that the value of the token has risen 285% since the presale launch – and the value has seemingly continued to skyrocket, with a further 96% value rise in the last week alone.
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FIREPIN Token has also implemented an initiative designed to encourage investors to hold long-term – with long-term holders being rewarded on a weekly basis with extra tokens. This is made possible by a 2% tax on all transactions made on the network.
The NFT gaming functionality of the token has piqued some level of interest amongst the crypto community – particularly given the growth of crypto-based NFT game Axie Infinity (AXS), released by Vietnamese gaming studio Sky Mavis in March 2018. The game utilises a play-to-earn model where players can earn Axie Infinity’s Ethereum-based in-game cryptocurrency, with players allowed to cash out their tokens once every fourteen days. FIREPIN Token (FRPN), unlike Axie Infinity (AXS), will provide a multi-chain solution, linking Avalanche (AVAX), Binance Smart Chain (BSC), Solana (SOL), Polygon (MATIC), and Ethereum (ETH).
The rate of return from the launch of Axie Infinity has been particularly impressive, seeing a 42,000% return on investment by its peak in November 2021. This means that an investment of $1000 would’ve netted a staggering $420,000. In February 2022, Axie Infinity became the first NFT games series to surpass $4 Billion in sales.
The potential growth of FIREPIN Token (FRPN) in the months and years to come, also conjures memories of the launch and growth of Solana (SOL), the high-performance blockchain technology that found itself as one of the main centrepieces of the NFT boom in 2021. Solana has drawn comparisons to Ethereum (ETH) – the first blockchain-based server platform – due to its supremacy over its predecessor. When comparing transactions per second, Solana outshines Ethereum, with a processing capability of 50,000 TPS, which clearly dwarfs Ethereum’s 13 to 45 TPS.
A $1000 investment in Solana (SOL) on January 1st, 2021 at $1.52 per coin would have sold for $136,376 just 11 months later – a huge return that the team at FIREPIN Token (FRPN) would hope to emulate.
FIREPIN Token (FRPN)
Join Presale: https://presale.firepin.io/login
Website: https://firepin.io/
Twitter: https://twitter.com/FIREPIN_io
TikTok: https://www.tiktok.com/@firepin.io
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