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Parody Coin (PARO)
Parody Coin (PARO) is a new deflationary BEP20 token built on the Binance Smart Chain (BSC), with plans to reward users’ participation in its interactive Paroverse. The platform has devised various avenues for users to earn passive income some of which include; Parody Market, Staking on BNB Chain, and Earning from the Paroflection system.
The Parody Market is a decentralised application (DApp) on the BNB with a user-friendly interface that allows users to mint parodies of popular NFTs on Ethereum, BNB Chain, and other blockchain networks. People can also display their parody NFT for sale or make a purchase from by another seller on the network. Through a robust bridge, owners of the original NFTs can claim ownership of the parody NFTs by burning or locking up the original NFTs. If this happens, it becomes possible for parody NFTs to replace original NFTs on the marketplace.
The Parody Coin (PARO) ecosystem is built on the token reflection model which means that the fees that are charged on transactions are redistributed to various branches. On each transaction on the platform, there is a tax of 10% which is then shared as thus; 5% to token holders, 3% to the liquidity pool, and 2% to the coin burn wallet to be burned and completely removed from circulation. The platform also has a staking component that lets users earn a piece of reward from the foundational BNB Chain network. The protocol leverages a bridge to convert some of the tokens into BEP20 tokens that can participate in the network consensus mechanisms. The reward from this is shared among token holders with a smart contract. This means that investors don’t earn only from the token reflection model of Paroflection but also the BNB chain consensus mechanism. For users to participate in this, they need to lock their tokens in the system for over two weeks.
According to the platform’s tokenomics, 72 billion PARO tokens will be pre-mined before the Initial DEX Offering (IDO) on PancakeSwap and the total supply of tokens will be 240 billion. Parody Coin (PARO) is currently in its presale phase and selling for USD 0.004.
Cardano (ADA) is the first public blockchain network that was created based on peer-reviewed research and evidence-based methods. It is the first blockchain to implement the Ouroboros proof-of-stake consensus mechanism which is the first peer-reviewed, verifiably secure, and most environmentally sustainable blockchain protocol.
The platform provides unbeatable security and sustainability to decentralised applications (DApps), systems, and societies. It claims to be a network for innovators, visionaries, and change-makers with all the technology required to make global change.
Cardano is a decentralised third-generation proof-of-stake (PoS) blockchain platform with a strong focus on sustainability, transparency, and scalability and is home to the ADA token. It is the 8th largest crypto according to market capitalization and one of the most popular blockchains.
Flow (FLOW) is a high-speed, decentralised blockchain developed to be the foundation for next-gen games, apps, and the virtual assets that they are powered by. It operates on a one-of-a-kind, multi-role structure that is designed to scale without sharding allowing for a developer-friendly environment with room for improvement in speed and throughput.
Flow (FLOW) believes it has four unique features that make it stand out among its peers;
- Multi-role architecture
- Resource-oriented programming
- Developer ergonomics
- Consumer onboarding
The above cryptos all have features that make them unique in the sea of crypto projects which make them worth considering. The new project Parody Coin (PARO) looks like it’ll take the crypto world in general and the NFT space specifically by storm.
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