Zoocoin protocol integrates mainstream and innovative Decentralized Finance products and cutting-edge Non-Fungible Tokens mechanisms. Not just that, you are going to find excellent implementations across DEX, Oracle, Swap Lending, insurance, and much more.
Four primary features make up the Zoocoin protocol ecosystem. Zooter – a decentralized Twitter-like platform for users to like/dislike posts through burning Zoocoin (ZOO). Zooswap allows users to swap from one token to another using Pancake swap. There is also ZooNFT and Zoocoin – a cryptocurrency for DAO governance.
Welcome to Zoocoin and meet your favorite animal. Zoocoin Protocol is an ecosystem of animal cryptos that allows users to own a token called ZooCoin and benefit from long-term holding. The ecosystem works on the principles of automatic liquidity provider and implements a static reward mechanism to prevent early adoption selling pressure.
Furthermore, the zoocoin protocol chooses to manually burn its coins to curb high circulation, increase demand, and grow its token price. The ecosystem has a wallet, the Zoo Wallet, from which you can purchase your favorite animal crypto. However, why buy just a single animal crypto when Zoocoin Protocol lets you own a tokenized asset package consisting of all your favorite cryptocurrencies.
Before getting into the details of this first-of-its-kind token, let’s first discuss the tokenomics of the token, how investors get rewarded and how the team governs the protocol.
The rewarding mechanism on Zoolet
First, Zoocoin implements a static rewarding formula to reward long-term investors of the token. 10% tax fees are charged from each transaction and divided into half. The first half is redistributed across all existing token holders in the platform depending on the amount of Zoocoins they own. The other half is burnt and included in an Automatic Liquidity pool. This last half is also paired on a 50:50 ratio with Binance Coin (BNB). This process is computed through the following algorithm:
Reflection + LP acquisition + Burn-In each trade
How does one own a tokenized asset package?
There are not many decentralized finance platforms that will allow you to own assets. Zoocoin Platform is that rare exception. Owning Zoocoin gives you that sense of belonging you own as a unit of value. But owning an assetized package of cryptocurrencies gives you the satisfaction of a company’s board of directors.
Zoocoin will customize a crypto-based package of asset shares that will be pegged to various existing and popular market cryptocurrencies. Purchasing into this package will help diversify your investment allocation and establish your zoo of financial instruments. Zoocoin Protocol implements the following strategy as the basis of Zoocoin:
When you add a SHIB, PIG, NFT, and Defi protocol to the Zoolet ecosystem, your result is the platform’s token, Zoocoin. The team feels this package has not yet exploited the full potential of cryptocurrency investment and hopes to diversify it in the future. In fact, you get the freedom to add whatever instrument you like to the formula to boost the value of your portfolio.
Even better, the Zoocoin platform will integrate a Zoo Passport System. ZPass is an NFT token that shares the dividend of Zootopia DeFi yield earnings. This way, ZOO holders can purchase passes to move through the system’s seven levels. The higher your ZPass level, the better value-added services and bonuses you get. What’s more, Zoocoin developers claim ZOO will also be used to buy NFT blind boxes containing varying jackpot bonuses based on your ZPass level.
Platforms like Zoocoin are meant to drive value across decentralized finance by boosting ROI for token holders and deploying a transactional unit through an on-chain yet transparent process. Owning Zoocoin is profitable and allows you to take part in the ecosystem’s governance through asset voting. The Zoocoin team has burnt the LP tokens for permanent lock-in. There are no chances of rug pull. Zoocoin can be bought in PancakeSwap here.