People in the cryptocurrency sector for a long time say that this is the perfect time to accumulate digital assets in preparation for a positive turn of events. There are a lot of factors and projects to be excited about when you look at the current cryptocurrency market. Venture capitalists continue to believe in the nascent industry as they invested more than $10 billion in the sector in the first quarter of the year.
On the other side, the industry is seeing the emergence of promising projects. Parody Coin is one of the emerging projects of 2022 as it is a meme coin with utility. BNB Chain will likely continue as the blockchain is favoured by new projects that prefer the network’s scalability and low fees. Another exciting project is ApeCoin because of its links to the successful Bored Ape Yacht Club NFT collection.
ApeCoin (APE) is a governance and utility token based on the Ethereum blockchain. ApeCoin was launched in 2022 by Yuga Labs, the team behind the Bored Ape Yacht Club NFT collection. The token can be traded on several leading decentralised and centralised exchanges. Investors’ interest in ApeCoin grew because they trusted the team behind the project because of its impressive record in the NFT space.There is no doubt that investors will continue piling into the APE ecosystem and other projects that are a haven for their investments. These projects could be focused on NFTs, the metaverse, or a combination of both.
Parody Coin is an ecosystem on the BNB Chain that supports the minting and trading of Parody NFTs. The PARO token, a BEP-20-based meme token, is the fuel that powers the Parody ecosystem. Users can generate income using several methods. 72 billion PARO tokens will be pre-mined and sold in the initial DEX offering (IDO) on the decentralized exchange PancakeSwap. 70% of the total supply will be reserved for IDO while the remaining 30% will be split between operational expenses, community incentives and rewards, marketing, and the organisation. Parody Coin will consist of the Parody NFT marketplace, the ParoReward System, the Paroverse, and the DApp store.
The project is built with a reflection model to reward token holders to provide liquidity. Each PARO transaction is charged a 10%-tax which is distributed to token holders. 5% of the tax is shared amongst PARO token holders, 3% goes to the liquidity pool, and the remaining 2% is sent to the coin burn wallet. There are revenue streams for PARO token holders to earn passive income while they hold their tokens. Users can stake their PARO tokens on the BNB Chain. The tokens are lent out and the interest charged benefits the stakers.
Another way of earning is through the minting of popular NFTs as parodies and selling them on several marketplaces including the Parody NFT marketplace. The Parody NFTs are not completely detached from the original non-fungible tokens, as the real owners of the NFTs can claim ownership of the Parody NFTs.
The project is planning to have a DApp store that allows developers to build and launch applications within the Parody ecosystem. These DApps will be focused on NFTs as they will support the minting and flipping of NFTs. What sets the PARO token apart is that it is not an ordinary meme token. It has all the charming traits of a meme token as well as a utility token. It offers the best of both worlds and its growing community is a clear indication that the interest in the PARO token is starting to gather momentum.
Binance Coin (BNB)
Binance Coin (BNB) is the native token of BNB Chain, a leading smart contract platform backed by Binance and one of the largest cryptocurrency exchanges in the world. It is positioned fifth on coinmarketcap, being regarded as one of the most valuable cryptocurrencies. They are well known for their unique ecosystem, including outlets such as: Binance Academy, Binance Smart Chain and Binance Trust Wallet. The interest in BNB will likely continue to grow as long as people trust Binance and the BNB Chain.