Labracoin and TANKS are in the spotlight – Defi market wrap
Labracoin, a deflationary meme token, is becoming more and more popular. Every holder can stake tokens automatically and get the staking reward from transactions. According to the team, 1% of every transaction will go to holders, while the same percentage of every transaction will get burned immediately.
The team aims to become a true competitor for Doge but be smarter. They believe that incentivizing holders and burning 1% on every transaction makes their project more fun. Besides, they have serious experience in the Defi field and are sure of their eventual success. The team has already burned 70% of the maximum supply.
The company named its token Labra for Labrador Retriever. The latter is one of the most popular dogs worldwide. The token’s ticker is $LABRA, which is easily recognizable. Labra locked all initial liquidity and burned 70% of the maximum supply, which is 1,000,000,000,000,000. However, only 30% remains in circulation currently, and every day 1% of every transaction is getting burned. This means the token is truly deflationary.
Labracoin wants to become the most fun meme token in the cryptocurrency space. That is quite hard to achieve because of the $doge position. Despite that, the team has a smart strategy and a real chance to achieve its goal. Currently, the company focuses on getting visibility, but it will reach out to exchanges after that.
What is “Tanks! For Playing?”
Tanks! For Playing, a turn-based multiplayer online blockchain game, involves cooperation, planning, strategy, coordination, and eventual betrayal. This game stands out for the similar ones due to high reward tournaments. Players pay to play, thus funding the prize money. As a result, the last tank standing wins and gets a lucrative reward. As the game progresses, players spend tokens on improving their chances, and the pot grows. The stakes get higher and higher, creating an exciting and addictive experience.
Users can play Tanks! entirely off-chain on a managed server (web2) or on-chain (web3). Furthermore, games can range in duration from a few hours to over the course of days or even weeks. Typically, multiplayer games have the potential to host up to 1000 participants. That creates the potential for an irresistible cash prize for the winner.
The game token TANKS powers “Tanks! For Playing.” TANKS are indivisible. The team plans to burn a proportion of revenue to ensure that the token is deflationary.
What about its features?
Gamers can play ‘Tanks! For Playing’ entirely on-chain, with supplemental features which do not affect the outcome of the game. The company plans to have initial deployment on Polygon, followed by Binance Smart Chain and Ethereum. However, the latter will be available only for high-stakes gameplay and tournaments. The team will consider other options according to community demand.
Tanks! For Playing will also be available to play off-chain on a managed server. However, the team will run this personally, and it won’t require gas fees. Playing off-chain is ideal for practice. It will enable players to test the game out without financial investment. Hosting invite-only games is also an option on the managed server. But users should consider that off-chain managed server games won’t have the functionality of on-chain games, such as in-app purchases and options for a pot.
On the other hand, on-chain games have the option to have a pot. The latter’s contributions will come from the initial buy-in, as well as any in-game purchases. The platform will distribute winnings based on game outcome and the pot payout strategy.
What type of token is TNAKS?
TANKS is a native ERC-20 game token. The team created it on the Ethereum blockchain. The total supply of TANKS will be 1 billion (1 000 000 000), and users won’t have the ability to mint any further TANKS. The team will use a proportion of revenue to burn tokens. That ensures that the token supply will be deflationary in addition to TANKS being indivisible.
Furthermore, the company plans to move TANKS across the chain in proportion to the funds raised during the initial token sale. For instance, if users provide 10% of funds on Binance Smart Chain (BSC), there will be 100 000 000 TANKS available on BSC, reducing the effective supply remaining on Ethereum. Post initial sale, token owners will still be able to move their tokens between chains.
The team launched the initial coin offering on September 14, 2021, and it will end on October 13, 2021. The price is 0.0025 USD per TANKS during the ICO. The company accepts ETH, USD, BNB, AUD, and MATIC in exchange for its native token. Furthermore, TANKS is very highly rated currently. It remains among the top listed ICOs on several platforms.
DTO token will become available soon
DotOracle announced that it would launch its native utility token DTO on October 26, 2021. The token is ERC20, and its price will be 0.35 USD per DTO during the initial coin offering. The company aims to raise 1,150,000 with the sale, and it will accept ETH and USDC in exchange for DTOs. The total supply of tokens is 100,000,000, but only 25% will be available for the token sale.
DotOracle is a decentralized network. It will enable users to connect the real world to the Polkadot ecosystem. The platform will provide a decentralized oracle service, transferring information from the real world to Polkadot in real-time. Furthermore, the team will create a liquidity network layer that transfers digital assets back-and-forth between Polkadot and other smart contract platforms, including Ethereum.
The team aims to ensure faster adoption of cryptocurrency, as well as make the information within blockchains easily available for everyone worldwide. It believes that its fast decentralized oracle is just what we need for that purpose.
Besides, DotOracle will act as a decentralized liquidity bridge network, as well. It will allow users to transfer digital assets back-and-forth between Polkadot and Ethereum quickly. Currently, Ethereum has the majority of liquidity, even though it has many problems such as transaction fees and scalability. However, DotOracle aims to balance the liquidity between Ethereum and Polkadot, allowing customers with small digital assets to easily access liquidity with fewer fees than on Ethereum.
How does DotOracle work?
DotOracle is a chain-less decentralized network. The team wants to achieve fast confirmation of the network. Thus, it proposes to use the Elliptic Curve (EC) Multisignature scheme combined with the Practical Byzantine Fault Tolerance (PBFT) distributed consensus protocol. The use of the EC will reduce the communication complexity of the original PBFT protocol.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.