Coco Swap price

COCO

Coco Swap follows a familiar value proposition that provides autonomous yield through increased usage of its liquidity protocol. It promises a seamless and easy staking option for users who can earn rewards by providing liquidity to the network.

Coco Swap promises to provide investors with a safe way of earning high APY yields without suffering from impermanent loss. The protocol sees high APYs as a valuation bubble and, as a consequence, has chosen to adopt static rewards as an alternative way of value creation. Thus, the Coco Swap protocol employs three functions:

• Reflection rewards
• Acquisition of liquidity providers
• Burns on each trade

To achieve this, each transaction on Coco Swap is taxed at 7%. 2% are redistributed to all existing holders, 2% are burned, and the remaining 3% are converted into BNB and added to the COCO/BNB liquidity pool in equal parts.

Token holders can earn rewards simply by holding COCO. The more transactions are conducted on the Coco Swap network, the higher the rewards for token holders. In the future, Coco Swap aims to provide investors with additional yield farming options as another way of acquiring yield. Users will be able to stake their LP tokens and earn COCO in return, with Coco Swap promising as many liquidity pairs as possible to increase the platform’s appeal.

The total supply of COCO is 150 billion. COCO is the protocol’s deflationary utility token that rewards its holders with a 2% reflection reward from each transaction. Another 2% are burned, and 3% are added to the protocol’s liquidity pool; in total, trades are charged a 7% transaction tax. Approximately 145 billion COCO are currently in circulation, with eight unknown wallets holding about 80% of the total supply.

Coco Swap promises to implement a burn strategy that is beneficial and rewarding for long-term holders and doesn’t exclude having additional manual burns in the future.

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