It’s been almost 10 years since DeFi has stepped on the stable ground of finance to change the trajectory of its progression once and for all. Since its beginning, many projects spectacularly evolved being destined for a brilliant future, even threatening to cannibalize what we know now as centralized exchanges. That all hints to an intensifying race for excellence that in the future years will make many players knocked out from the ring, while leaving the few others to reap all the rewards.
For that reason, many platforms use various techniques to boost engagement with their market offering. One of such increasingly popular and assuredly rewarding ways of attracting the public is gaming – that’s an activity where a set of players contend for the cryptocurrency pot that is bestowed on the winning party by results of the game. The Ethereum network is largely responsible for driving the gaming forward, not least due to its feature of efficient transaction processing and smart contract functionality. That also led Ethereum to accommodate more advanced recent developments in DeFi, such as swapping and yield farming.
One of the rising actors on a pedestal of the decentralized economy is Cocoricos. The platform has recently made itself known for a claim about Initial Liquidity Offering, which is the first step to bring finance at a higher edge of democratization and liberty. The token sale is already underway, and by fulfilling the goal of $2M, Cocoricos will be able to push finance further than a traditional comfort zone.
Cocoricos: A gaming platform making finance open to everyone
Since its first steps on the DeFi scene, the main goal of Cocoricos has been to act as a promoter of democratization in this space, where the community of users will have a voice in the protocol’s future by exercising their right of governance. Towards the end of this year, this goal finally became plausible – right now, the platform is conducting pre-sale of the EGG token, which precedes its actual listing on the Uniswap platform.
Its open nature is precisely what is meant to drive more users into this project: Cocoricos brings together various assets through liquidity pools, proof of stake (PoS) and Airdrops, allowing users to reap their benefits simultaneously. Cocoricos aggregates the most progressive trends DeFi can boast of – the ones that, eventually, were responsible for pushing up DeFi to its current mark of $13,43B since the start of 2020.
Ever since it came to life, Cocoricos is basing itself on a set of embedded smart contracts, which enables the platform to adopt a data-led approach and focus on strategies with the highest investment return. In its structure, Cocoricos is using on-chain big data algorithms that have enabled speed advantages compared to off-chain data processing. This gives Cocoricos a higher edge and allows users to take the best deals on the market, not leaving aside the EGG token itself.
What does the EGG token store within?
EGG token, the native asset of Cocoricos, is the centrepiece of the platform. First, by using a dynamic staking model, the passive rewards on EGG are increasing over time. Another thing is Proof-of-Stake (PoS) consensus algorithm on which EGG token bases – it’s replacing the old Proof-of-Work (PoW) system, thus letting more energy saving and lower transaction costs.
Another thing, EGG does not require a complicated set of actions in order to start generating yield returns. For that to be done, it is sufficient to acquire EGG token with BTC or any other currency, which further allows to immediately stake any token of your preference listed on the platform. This reduces the need to directly connect to the token’s native provider, which brings ease and convenience for the ones planning to stake in multiple tokens at once.
All interested investors can already participate in token pre-sale before Jan 15th, when EGG becomes listed on the Uniswap platform. In order to participate, it is needed to invest at least 0.1 ETH in EGG, while the maximum amount to be qualified shouldn’t go above 100 ETH.
Conclusion
Although Cocoricos is a new player in the field of decentralized finance, it’s technological features promise a bright future. Let alone the rewards on EGG staking are continuously augmenting in value, Cocoricos also brings in an element of democratization by allowing the community to decide upon the future of the protocol. Each year ahead, Cocoricos will be approaching its goal of creating a more open and accessible DeFi to all people, which is the major step on the way towards making the decades-long dominance of traditional financial institutions a thing of the past.
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